According to the final communiqué published by the Presidency of the Republic, the Council of Ministers of Thursday 27 March 2025 welcomed the signing, the same day at the Presidential Palace, of agreements formalising the acquisition by Gabon Oil Company (GOC) of the assets of Tullow Oil and SMP Afrique. The communiqué states that SMP Afrique specialises in oil drilling and well workover, and that the purchase is expected to expand GOC's operational and technical capacity while reducing operating costs.
On a proposal from the Minister of the Digital Economy, the Council approved the Medusa Africa optical submarine cable project, with a landing point in Port-Gentil carried by ACE Gabon, a state-owned national entity, and an extension towards the Ogooue up to Ndjole to connect with the Gabonese national backbone. The project is to receive funding from the European Union's Connecting Europe Facility and from the Global Gateway investment package. It is intended in particular to prepare for the end of life of the ACE cable currently in operation and to strengthen the resilience of the country's international digital infrastructure.
The Council also adopted a bill creating the Stabilisation and Equalisation Fund (CAISTAB), a public body in charge of stabilising and equalising the prices of hydrocarbons, coffee and cocoa and of supporting the prices of basic necessities, as well as a decree approving the statutes of the Gabonese Standardisation Agency. Finally, the communiqué mentions the recent Investment Symposium held in Libreville and the head of state's meeting with the Gabon Business Federation (FEG), where he recalled priorities such as macroeconomic stability, simpler procedures, stable taxation and public debt management.
