Gabon has inked a $3.8 billion deal with Afreximbank to supercharge its development ambitions across mining, energy, and transport. Signed during Afreximbank’s annual meeting in Abuja, the agreement will support the formalization of gold and manganese trading, expand energy infrastructure, and modernize the country’s railway. With 70% of Gabon’s gold production currently informal, and poor infrastructure stalling progress, the deal aims to bring order and opportunity through Special Economic Zones and quality assurance initiatives. Gabon, an OPEC+ member and the world’s second-largest producer of manganese by volume, is trying to diversify its economy and reduce its reliance on oil production. The deal with Afreximbank will allow it to progress towards this goal by strengthening other sectors, ensuring a more resilient future for the small Central African nation.
Business Insider Africa
