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, and public officials often face little consequence for corrupt activities, leading to a perception of widespread impunity. Although the government has made some efforts to combat corruption, including the establishment of a task force to recover stolen funds, the lack of transparency in contracting processes, particularly in the extractive industries, continues to pose challenges for businesses operating in the country.

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 challenges such as declining oil reserves, high unemployment rates, and the need for significant infrastructure investment, which has led to a modest economic growth of only 2.3 percent in 2023.

Gabon has a historically stable investment climate, but recent political upheaval due to a coup has created uncertainty. The country promotes foreign investment in sectors like oil, gas, and mining, while its 1998 investment code offers equal rights to foreign and domestic investors. However, significant infrastructure investment is needed to support trade and diversify the economy, as Gabon remains heavily reliant on petroleum and mining revenues.