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.

Corruption remains a significant issue in Gabon, despite the existence of a legal framework that criminalizes various corrupt practices, including bribery and embezzlement. Enforcement of these laws is limited, leading to a culture of impunity, particularly in the extractive industries where transparency is lacking. Although recent efforts by the government, including the establishment of a task force to recover stolen funds, have shown some promise, widespread perceptions of corruption persist, and investigations are often seen as politically motivated.

Gabon has a small population of approximately 2.3 million and is rich in natural resources, particularly oil and minerals, which dominate its economy. However, the country faces economic challenges, including declining oil reserves, high unemployment rates, and the need for significant infrastructure investment, leading to a modest growth rate of 2.3% in 2023. The recent military coup has further complicated the economic landscape, impacting sectors reliant on late-night operations due to imposed curfews.

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 various sectors, particularly oil, gas, and mining, while also offering incentives through customs and tax exemptions. However, the country faces challenges such as a lack of infrastructure, bureaucratic delays, and a recent coup that has created uncertainty in the economic environment.