This is good news considering the output was down in the first and second quarters. However, the government actively works to diversify the economy and reduce its reliance on these sectors, especially the oil industry.
Gabon’s extractive industry fared well in Q3 2024, with output rising 3.5%. According to the Ministry of Economy, which disclosed the information, the increase was primarily driven by manganese, marketed natural gas, and oil. Oil production rose by 3.1%, rebounding from previous challenges, including operational incidents and a tragic accident at the Becuna site operated by Franco-British Perenco.
Mature fields performed better during the quarter under review, and new wells started production. These may have also contributed to the overall increase in output.
Manganese output grew 4.5%, driven by the performance of Compagnie minière de l'Ogooué (COMILOG), a subsidiary of France's Eramet, which extracted 2 million tonnes during the period. Additionally, marketed natural gas production rose by 3.7% following technical challenges related to upgrading gas transport infrastructure.
Gabon’s authorities said they intend to sustain the upward dynamic and achieve even greater returns in the coming months.
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...
Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...
Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...
Tether partnered with the United Nations Office on Drugs and Crime to strengthen digital asset cyb...
Microfinance deposits in Togo increased by CFA11.9 billion, a 2.7% rise in the second quarter of 2...
Nigeria licensed Amazon’s Project Kuiper to operate satellite services from 2026, setting up direct competition with Starlink. Amazon plans a...
Libya’s central bank cut the dinar by 14.7% to 6.37 per dollar, marking the second devaluation in less than a year. Authorities cited unchecked...
Benin held investor meetings in London for a multi-tranche international bond that would include its first seven-year sukuk. The deal could reach...
Ghana ends long-term stability deals and pushes a 9–12% sliding royalty, redrawing the fiscal map as gold prices soar. GoldBod expands state control:...
Located at the mouth of the Senegal River, about twenty kilometers from the Atlantic Ocean, Saint-Louis Island holds a distinctive place in the country’s...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...