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 in Gabon is a significant issue, with the Penal Code criminalizing various forms of corruption, yet enforcement is limited and impunity persists. Despite the establishment of anti-corruption bodies and Gabon's commitment to international conventions, the lack of transparency in contracting processes, particularly in the extractive industries, exacerbates the problem. Recent efforts by the transitional government to recover stolen funds indicate some progress, but widespread perceptions of endemic corruption remain.

Gabon has a small population of approximately 2.3 million and is rich in natural resources, particularly oil and mining, which significantly contribute to its economy. However, the country faces challenges such as declining oil reserves, high unemployment rates, and a need for substantial investment in infrastructure to diversify its economy beyond petroleum. Following a military coup in August 2023, the new transitional government has implemented reforms aimed at addressing the rising cost of living and promoting foreign investment across various sectors.

Gabon has a relatively open investment climate, promoting foreign investment across various sectors such as oil and gas, infrastructure, timber, ecotourism, and mining, while ensuring that foreign and domestic investors are treated equally under its 1998 investment code. The government has established the Investment Promotion Agency (ANPI-Gabon) to facilitate investments and reduce bureaucratic hurdles, although challenges remain due to a lack of transparency and lengthy administrative processes. Recent reforms by the military-led government aim to enhance economic stability and attract investment, despite the ongoing dependence on oil revenues and the impact of political instability.