Foreign Exchange Shortage in Gabon's Banks and Currency Exchange Offices Raises Concerns
The shortage of foreign exchange in banks and currency exchange offices in Gabon is taking a worrying turn. In an official note dated September 29, 2025, the National Economic and Financial Committee (CNEF), chaired by Henri-Claude Oyima, also Minister of Finance, sounded the alarm on the potential consequences of this situation. The committee warns that the slow supply of foreign exchange by the Bank of Central African States (BEAC) is weakening the official financial system and promoting the growth of a black market for foreign exchange, with increased risks of money laundering and terrorist financing.
Causes of the Shortage
According to the CNEF, the lengthy delays in making foreign exchange available by the BEAC are forcing many economic operators and individuals to resort to informal channels to finance their imports, transfers, or travel. This massive recourse to the parallel market is causing distortions in the exchange system: exchange offices are practicing rates far higher than those officially set, fueling capital flight and weakening the control of financial flows by monetary authorities.
Measures to Address the Shortage
To try to curb these abuses, the CNEF is calling on the BEAC to accelerate the supply of authorized operators with foreign exchange. The Committee also plans to strengthen the fight against informal networks of sales, with tougher sanctions against offenders. This approach is part of the broader framework of exchange regulation within the Economic and Monetary Community of Central Africa (CEMAC), which strictly regulates foreign exchange outflows.
Implications and Next Steps
The CNEF's warning highlights the need for urgent action to address the foreign exchange shortage in Gabon. The committee's recommendations aim to restore stability to the financial system, prevent the growth of a black market, and ensure compliance with regional regulations. The situation will be closely monitored, and further measures may be taken to address the root causes of the shortage and prevent its recurrence.
