Sector group
Financial services
Gabon's financial system operates within the monetary and prudential framework of the Central African Economic and Monetary Community (CEMAC). Eight banks, two financial institutions and eighteen microfinance institutions are active, alongside mobile payment institutions, and 68% of adults hold an account.
- Banks in operation
- 8banks
- Bank customer deposits
- 3,019billion CFA francs
- Gabon's share of CEMAC bank deposits
- 16.8%
Source: Rapport annuel 2024 de la Commission bancaire de l'Afrique centrale
Key figures
Key figures for financial services
Banks in operation
8 banks
31/12/2024
Bank customer deposits
3,019 billion CFA francs
31/12/2024
16.8 %
2024
Banks' net banking income
325.1 billion CFA francs
2024
Banks' total assets
4,374.1 billion CFA francs
2023
Credit extended by banks
2,135.5 billion CFA francs
2023
Licensed microfinance institutions
18 institutions
2024
Microfinance institutions' total assets
197.9 billion CFA francs
2024
Reference series
Account ownership
68.2 %
2024
Source: World Bank
Domestic credit to the private sector
13.4 % of GDP
2019
Source: World Bank
Broad money (M2)
22.9 % of GDP
2019
Source: World Bank
Locations
- Scale
- Nationwide
Source: OCHA / Institut national de cartographie du Gabon (CC BY-IGO)
Trends
A concentrated banking sector
According to the Central African Banking Commission (COBAC), Gabon had eight banks in operation at 31 December 2024, out of 56 in CEMAC. Customer deposits rose from 2,178 billion CFA francs at the end of 2020 to 3,080 billion at the end of 2023, before easing to 3,019 billion at the end of 2024 (-2%). Net banking income grew from 214.9 billion CFA francs in 2020 to 325.1 billion in 2024, or 21.2% of the CEMAC total, second behind Cameroon. According to COBAC figures reported by Direct Infos Gabon, banks' total assets reached 4,374.1 billion CFA francs in 2023 and loans 2,135.5 billion, with 581,997 banked customers.
The market has historically been dominated by three institutions. In 2019 the French Treasury estimated credit market shares at 40% for BGFIBank and 19% each for Union Gabonaise de Banque (UGB) and Banque Internationale pour le Commerce et l'Industrie du Gabon (BICIG). Credit to the private sector remained modest, at 13.4% of GDP in 2019 according to the World Bank.
Changes in ownership
According to the Conjonctures website, in March 2020 BNP Paribas sold its 47% stake in BICIG to the Gabonese Strategic Investment Fund (FGIS). Atlantic Financial Group (AFG) became the majority shareholder at the end of 2020 with 52% of the capital; share capital was later raised from 18 to 54 billion CFA francs. The bank, founded in 1945, was renamed AFG Bank Gabon on 7 December 2024.
Microfinance and mobile payments
The eighteen licensed microfinance institutions are growing steadily: their total assets rose from 110.3 billion CFA francs in 2020 to 197.9 billion in 2024 (+24.8% over the last year). Mobile payments have expanded quickly: according to Bank of Central African States (BEAC) data reported in 2022 by Direct Infos Gabon, the country had 2.7 million e-money accounts and mobile payments reached 353 billion CFA francs in 2020, up from 55 billion in 2019. In 2024 Airtel Money Gabon and Clickpay Gabon were among the seven licensed payment institutions in CEMAC. Account ownership, bank or mobile, rose from 58.6% of adults in 2017 to 66.1% in 2021 and 68.2% in 2024 according to the World Bank Global Findex database.
Regional capital market
Since 1 July 2019 the Central African Stock Exchange (BVMAC), created in Libreville in 2003 and now based in Douala, has been the single regional exchange following its merger with the Douala Stock Exchange. Its regulator, the Central African Financial Market Supervisory Commission (COSUMAF), is headquartered in Libreville.
Account ownership
Account ownership (Gabon) went from 18.9% in 2011 to 68.2% in 2024.
| Period | Account ownership (%) |
|---|---|
| 2011 | 18.9 |
| 2014 | 33.0 |
| 2017 | 58.6 |
| 2021 | 66.1 |
| 2024 | 68.2 |
Domestic credit to the private sector
Domestic credit to the private sector (Gabon) went from 8.2 % of GDP in 1960 to 13.4 % of GDP in 2019. The highest value was reached in 1987 (29.7 % of GDP).
| Period | Domestic credit to the private sector (% of GDP) |
|---|---|
| 1960 | 8.2 |
| 1961 | 10.7 |
| 1962 | 12.6 |
| 1963 | 20.3 |
| 1964 | 16.0 |
| 1965 | 13.9 |
| 1966 | 14.5 |
| 1967 | 14.2 |
| 1968 | 14.7 |
| 1969 | 15.6 |
| 1970 | 17.8 |
| 1971 | 18.5 |
| 1972 | 22.8 |
| 1973 | 20.6 |
| 1974 | 13.1 |
| 1975 | 14.4 |
| 1976 | 13.9 |
| 1977 | 18.1 |
| 1978 | 24.1 |
| 1979 | 19.1 |
| 1980 | 15.8 |
| 1981 | 16.3 |
| 1982 | 15.6 |
| 1983 | 17.7 |
| 1984 | 16.2 |
| 1985 | 20.2 |
| 1986 | 28.5 |
| 1987 | 29.7 |
| 1988 | 16.7 |
| 1989 | 15.5 |
| 1990 | 12.9 |
| 1991 | 14.6 |
| 1992 | 10.9 |
| 1993 | 10.3 |
| 1994 | 6.8 |
| 1995 | 7.9 |
| 1996 | 6.6 |
| 1997 | 8.7 |
| 1998 | 10.8 |
| 1999 | 10.0 |
| 2000 | 8.7 |
| 2001 | 12.5 |
| 2002 | 12.3 |
| 2003 | 11.5 |
| 2004 | 9.3 |
| 2005 | 8.5 |
| 2006 | 9.6 |
| 2007 | 10.0 |
| 2008 | 8.7 |
| 2009 | 10.1 |
| 2010 | 8.2 |
| 2011 | 9.5 |
| 2012 | 11.3 |
| 2013 | 15.0 |
| 2014 | 14.5 |
| 2015 | 14.5 |
| 2016 | 13.8 |
| 2017 | 10.3 |
| 2018 | 13.1 |
| 2019 | 13.4 |
Broad money (M2)
Broad money (M2) (Gabon) went from 15.6 % of GDP in 1960 to 22.9 % of GDP in 2019. The highest value was reached in 2013 (24.9 % of GDP).
| Period | Broad money (M2) (% of GDP) |
|---|---|
| 1960 | 15.6 |
| 1961 | 15.2 |
| 1962 | 16.5 |
| 1963 | 21.3 |
| 1964 | 16.3 |
| 1965 | 16.6 |
| 1966 | 14.9 |
| 1967 | 14.2 |
| 1968 | 14.7 |
| 1969 | 15.3 |
| 1970 | 15.4 |
| 1971 | 15.0 |
| 1972 | 18.5 |
| 1973 | 16.5 |
| 1974 | 11.9 |
| 1975 | 15.5 |
| 1976 | 18.6 |
| 1977 | 19.3 |
| 1978 | 21.1 |
| 1979 | 19.1 |
| 1980 | 16.9 |
| 1981 | 16.9 |
| 1982 | 16.9 |
| 1983 | 18.4 |
| 1984 | 17.6 |
| 1985 | 20.5 |
| 1986 | 23.5 |
| 1987 | 24.4 |
| 1988 | 21.1 |
| 1989 | 19.1 |
| 1990 | 16.3 |
| 1991 | 18.8 |
| 1992 | 16.3 |
| 1993 | 15.5 |
| 1994 | 14.0 |
| 1995 | 14.5 |
| 1996 | 14.4 |
| 1997 | 15.1 |
| 1998 | 17.4 |
| 1999 | 15.5 |
| 2000 | 14.6 |
| 2001 | 14.9 |
| 2002 | 15.5 |
| 2003 | 15.0 |
| 2004 | 15.1 |
| 2005 | 16.3 |
| 2006 | 17.4 |
| 2007 | 17.0 |
| 2008 | 16.1 |
| 2009 | 20.3 |
| 2010 | 19.7 |
| 2011 | 20.7 |
| 2012 | 22.3 |
| 2013 | 24.9 |
| 2014 | 23.5 |
| 2015 | 24.9 |
| 2016 | 24.5 |
| 2017 | 19.4 |
| 2018 | 23.9 |
| 2019 | 22.9 |
Main players
Main players
| Name | Activity | Location |
|---|---|---|
| BGFIBank Gabon | Commercial bank | Libreville |
| AFG Bank Gabon (formerly BICIG) | Commercial bank, Atlantic Financial Group | Libreville |
| Union Gabonaise de Banque (UGB) | Commercial bank | Libreville |
| Orabank Gabon | Commercial bank | Libreville |
| Ecobank Gabon | Commercial bank | Libreville |
| UBA Gabon | Commercial bank | Libreville |
| Citibank Gabon | Commercial bank | Libreville |
| Airtel Money Gabon | Licensed payment institution | Libreville |
| Clickpay Gabon | Licensed payment institution | Libreville |
| Gabonese Strategic Investment Fund (FGIS) | Public investor, equity stakes and SME guarantees | Libreville |
| BEAC and COBAC | Regional central bank and banking supervision | Yaoundé (BEAC); COBAC official seat in Libreville |
| COSUMAF and BVMAC | Regional capital market regulator and stock exchange | Libreville (COSUMAF), Douala (BVMAC) |
Regulatory framework
Banking regulation is set at regional level. BEAC conducts monetary policy for the zone and COBAC, created by the convention of 16 October 1990 signed by the six CEMAC states, ensures that credit institutions comply with the rules, sets accounting and prudential standards, carries out off-site and on-site inspections and can impose sanctions up to withdrawal of a licence. Licences are granted after a binding opinion from COBAC.
Microfinance is governed by Regulation no. 01/17/CEMAC/UMAC/COBAC of 27 September 2017 on the conditions for carrying out and supervising microfinance. Payment services, including e-money, fall under Regulation no. 04/18/CEMAC/UMAC/COBAC of 21 December 2018, and foreign exchange operations under Regulation no. 02/18/CEMAC/UMAC/CM of the same day on exchange controls. The regional capital market is supervised by COSUMAF.
Reference texts
-
Revised treaty of the Central African Economic and Monetary Community (CEMAC)
Traité révisé de la CEMAC, fait à Libreville le 30 janvier 2009
-
Convention establishing the Central African banking commission (COBAC)
Convention du 16 octobre 1990 portant création d'une Commission bancaire de l'Afrique centrale
-
CEMAC regulation on microfinance activity
Règlement n° 01/17/CEMAC/UMAC/COBAC du 27 septembre 2017 relatif aux conditions d'exercice et de contrôle de l'activité de microfinance
-
Regulation on payment services in CEMAC
Règlement n° 04/18/CEMAC/UMAC/COBAC du 21 décembre 2018
-
Regulation on foreign exchange in CEMAC
Règlement n° 02/18/CEMAC/UMAC/CM du 21 décembre 2018
Opportunities
The PNDT 2024-2026 includes several commitments on financing the economy:
- Microfinance: broaden the activities of microfinance institutions and increase their contribution to financing small and medium-sized enterprises, through partnerships with the National Investment Promotion Agency (ANPI) and FGIS.
- Guarantees: develop guarantee funds for SMEs and strengthen the Société de garantie du Gabon, an FGIS subsidiary.
- Long-term resources: conclude discussions with BEAC on repatriating oil and mining site rehabilitation funds so that they can be made available to the economy.
Financial inclusion also leaves room for growth: nearly one adult in three did not hold an account in 2024, and the World Bank-supported Digital Gabon Project plans digital payment systems for public services.
Take the next step
These opportunities translate into concrete formalities: find the ones that apply to your project, or ask the assistant.
Documents
-
COBAC annual report 2024, PDF format (opens in a new tab)
COBAC, BEAC
-
Regulation no. 04/18/CEMAC/UMAC/COBAC on payment services, PDF format (opens in a new tab)
BEAC
-
National Development Plan for the Transition 2024-2026, PDF format (opens in a new tab)
Ministère de l'Économie et des Participations
Sources
14 sources cited
Documents and datasets used for this profile.
- Rapport annuel 2024 de la Commission bancaire de l'Afrique centrale (opens in a new tab)
- La Commission bancaire de l'Afrique centrale (opens in a new tab)
- Règlement n°04/18/CEMAC/UMAC/COBAC du 21 décembre 2018 relatif aux services de paiement dans la CEMAC (opens in a new tab)
- Gabon : tous les chiffres du secteur bancaire de 2021 à 2023 (opens in a new tab)
- Le secteur bancaire au Gabon (opens in a new tab)
- Après près de 76 ans d'activités, la BICIG disparaît au profit de AFG Bank Gabon (opens in a new tab)
- Mobile money : le Gabon totalise 2,7 millions de comptes en monnaie électronique (opens in a new tab)
- BVMAC chronology (opens in a new tab)
- Account ownership at a financial institution or with a mobile-money-service provider (% of population ages 15+), Gabon (opens in a new tab)
- Domestic credit to private sector (% of GDP), Gabon (opens in a new tab)
- Plan national de développement pour la transition (PNDT) 2024-2026, version 3 (opens in a new tab)
- Gabon: Digital Gabon Project, project appraisal document (opens in a new tab)
- World Bank (opens in a new tab) Account ownership, Domestic credit to the private sector, Broad money (M2)
- International Monetary Fund (opens in a new tab) Inflation (consumer prices)
