By Enyichukwu Enemanna
Gabon’s President Brice Oligui Nguema has announced the replacement of the country’s finance minister, Henri-Claude Oyima, a presidential decree indicates, as the Central African country grapples with a liquidity pressure and rising arrears.
The oil-rich nation has become increasingly reliant on regional capital markets to meet its financing needs, though appetite for its debt “has weakened substantially”, ratings agency Fitch said last month, when it downgraded the country’s long-term foreign-currency issuer default rating.
Oyima, a prominent banker and businessman, was named finance minister May last year, after Nguema won the first presidential election since he took power in a coup in 2023.
The presidential decree released late on Thursday said technical adviser Thierry Minko would be taking over as “minister of economy, finance, debt and shareholdings, responsible for combating the high cost of living”.
The decree said another senior official, Marc Abeghe, would be in charge of the budget at the ministry.
Fitch cited a widening fiscal deficit and lack of official creditor financing for downgrading Gabon’s long-term foreign-currency issuer.
The agency said it expected government debt to increase from 72.9% of gross domestic product in 2024 to 80.4% in 2025, 85.5% in 2026 and 86.7% in 2027.
Gabon’s presidency said in December it was planning to introduce a new housing tax in 2026 to improve public lighting, road maintenance and city cleanliness.
