• Gabon’s National Economic and Financial Committee (CNEF) says FX shortages in banks are driving demand for the black market.
• The CNEF warns the situation heightens risks of money laundering and terrorist financing.
• The committee urges the Bank of Central African States (BEAC) to speed up FX supply and pledges tougher action against informal dealers.

Gabon’s National Economic and Financial Committee (CNEF) raised concerns over a shortage of foreign currency in banks and exchange offices, warning it threatens the country’s financial stability.

In a note published on Sept. 29, CNEF President and Finance Minister Henri-Claude Oyima said the situation weakens official financial channels and risks boosting the informal FX market. He cautioned that the crisis “presents risks in terms of money laundering and terrorist financing.”

BEAC Supply Delays Drive Black Market

The CNEF attributed the shortage to delays in foreign-currency provisioning by the Bank of Central African States (BEAC). The committee said companies and individuals increasingly turn to informal circuits to obtain FX for imports, transfers, and travel.

This trend, it said, is fueling a black market where dealers impose rates above official levels. The distortions cause capital flight, reduce monetary authorities’ control over financial flows, and undermine the official FX market.

Calls for Policy Action

The committee urged BEAC to “take all necessary measures to improve FX supply timelines for licensed operators.” It also announced a crackdown on informal FX networks, including sanctions against offenders.

These steps align with strict foreign-exchange regulations in the Central African Economic and Monetary Community (CEMAC), which imposes tight controls on currency outflows. The Gabonese government aims to reduce pressure on the official market while containing risks tied to the informal economy.

This article was initially published in French by Chamberline Moko

Adapted in English by Ange Jason Quenum