Gabon Country Summary

FATF Status

Gabon is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Gabon was undertaken in 2023. According to that Evaluation, Gabon was deemed Compliant for 3 and Largely Compliant for 12 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Gabon faces significant challenges with corruption, as the Penal Code criminalizes various forms of corrupt practices, yet enforcement is weak and impunity is prevalent. The country ranks 136 out of 180 in Transparency International's Corruption Perceptions Index, and while the government established a commission to combat illicit enrichment, it has not effectively addressed conflicts of interest or encouraged private sector compliance. Additionally, Gabon is a transit point for human trafficking and counterfeit goods, with environmental crimes exacerbated by corruption, highlighting the need for improved governance and accountability.

Gabon has a small population of approximately 2.3 million and is rich in natural resources, particularly oil and mining, which dominate its economy. However, the country faces challenges such as declining oil reserves, high unemployment rates, and the need for significant investment in infrastructure to diversify its economy beyond petroleum. The military coup in August 2023 has further complicated the economic landscape, leading to curfews that have impacted business operations and overall economic growth.

Gabon has a relatively open investment climate, with foreign investors enjoying rights similar to those of domestic firms under its 1998 investment code. The government promotes foreign investment in sectors such as oil, gas, infrastructure, and ecotourism, while also providing various tax incentives and establishing special economic zones to attract industrial investment. However, the country faces challenges such as bureaucratic delays, a lack of transparency in regulatory processes, and a recent coup that has created uncertainty in the investment landscape.