In a recent op-ed, Yves Fernand Manfoumbi, a former director general of the budget and minister of trade, called for Gabon to prioritize production as a key driver of national prosperity. Manfoumbi argued that the country must choose between continuing to consume its wealth or starting to produce, transform, and share it. He believes that commerce and small and medium-sized enterprises (SMEs) should become a cornerstone of Gabon's economic refoundation.
Manfoumbi has set out specific goals for the development of Gabon's SME sector, including the creation of 50,000 formal SMEs, mobilizing 500 billion FCFA in financing, and generating up to 200,000 direct and indirect jobs. To achieve these goals, he proposes simplifying the process of starting a business, including the creation of a one-stop shop and digitalization. He also suggests establishing a national fund for SME development, which would involve banks and development partners.
Another key aspect of Manfoumbi's plan is to create new markets for Gabon's SMEs, including by reserving a significant portion of public procurement for local SMEs and promoting the "Made in Gabon" label. He also believes that SMEs should aim to export to regional markets, including the CEMAC, CEEAC, and ZLECAf. To support this, Manfoumbi advocates for a diversified industrial policy organized by sector, including agriculture, wood, fishing, and mining.
Manfoumbi also addresses the issue of informal enterprises, which he sees as a form of entrepreneurship seeking a place in the economy. He argues that formalizing these enterprises is essential to provide them with access to credit, markets, and social protection. However, he notes that formalization must be made attractive to businesses by making it profitable.
The economist calls for a "strategic state" that is evaluated not on the adoption of laws, but on the creation of businesses, jobs, and exports. He believes that Gabon's future prosperity will not be built solely on its natural resources, such as oil, manganese, and wood, but on the success of its entrepreneurs. Manfoumbi argues that it is time for Gabon to move away from relying on rents and towards a production-based economy.
According to a report by the African Development Bank (BAD), 80% of informal enterprises in Gabon are owned by foreigners. The bank's 2026 country report highlights the need for Gabon to mobilize large-scale resources to finance its development. The report was released on October 1, 2026.
The United Nations has also been active in Gabon, with a commitment of 10.5 billion in 2025. The country's coordination resident, Fatou Aminata Lo, recently met with representatives of the press to discuss the organization's activities. Gabon is also set to participate in the 2030 Expo in Riyadh, Saudi Arabia, after attending the 2025 Expo in Osaka, Japan.
Key points
- Economist Yves Fernand Manfoumbi calls for Gabon to prioritize production and support small and medium-sized enterprises to drive economic growth.
- Manfoumbi sets out specific goals for SME development, including 50,000 formal SMEs and 200,000 jobs.
- The African Development Bank reports that 80% of informal enterprises in Gabon are owned by foreigners.
