Since the political transition began in August 2023, the Burkinabè conglomerate Ebomaf has emerged as Gabon’s top public contractor. Within just three years, the company founded by businessman Mahamadou Bonkoungou has reportedly secured contracts worth over 700 billion Central African francs—a scale unmatched by any single foreign operator in the country. The projects span critical infrastructure, including major roads, the Andem airport expansion, and Libreville 2, the new administrative capital championed by transition leader Brice Clotaire Oligui Nguema.

Dominance in Gabon’s public procurement landscape

Ebomaf’s rapid accumulation of contracts raises concerns about both speed and scale. Nearly every presidential announcement on infrastructure has been awarded to the same company, with limited public disclosure on competitive bidding processes. The projects include hundreds of kilometers of roadworks, airport infrastructure, and a large-scale urban development aimed at alleviating congestion in the capital.

This concentration of contracts introduces a structural risk: reliance on a single operator for design, execution, and sometimes pre-financing. For a nation like Gabon, whose oil revenues have declined in recent years and whose external debt is under scrutiny by international financial institutions, such dependency narrows fiscal maneuverability.

Transparency gaps in budget tracking

The 700 billion FCFA figure, cited by Ebomaf itself, lacks official validation from Gabon’s public authorities. Neither the Ministry of Public Works, the Ministry of Public Accounts, nor the Audit Chamber has released a consolidated report detailing the state’s contractual obligations to Ebomaf. Without a unified financial dashboard, it remains difficult to trace actual cash flows—whether through direct payments, bank pre-financing, or compensatory mechanisms.

This opacity fuels concerns about treasury management. Which agency approves invoices? Which financial institution processes the funds? What sovereign guarantees back the pre-financing arrangements? In line with transparency standards set by the International Monetary Fund and the African Development Bank, regular publication of commitments and disbursements is expected. Yet, while inauguration ceremonies are widely publicized, institutional silence persists on financial flows.

Assessing the pre-financing model

Ebomaf has built its regional reputation on an integrated model combining technical execution with bank-backed pre-financing, often leveraging West African financial institutions. This approach allows cash-strapped governments to initiate projects without immediately tapping fiscal resources. However, it shifts repayment obligations to future budgets, with costs dependent on negotiated financial terms.

The model has enabled Ebomaf to establish a strong presence in Burkina Faso, Côte d’Ivoire, Togo, and Senegal. Yet, it has also sparked recurring controversies over interest rates, potential cost overruns, and the quality of delivered infrastructure. Replicating this model at scale in Gabon—amid a transitional political context—warrants rigorous scrutiny of financial clauses and oversight mechanisms.

For Gabon’s financial partners, the stakes extend beyond operational performance. They touch on the credibility of the transition government’s fiscal trajectory and the long-term sustainability of debt servicing post-election. Releasing a consolidated audit on Ebomaf-related commitments would signal a commitment to transparency, especially as multilateral lenders reassess their exposure to Gabon’s sovereign risk.

Beyond financial governance, Ebomaf’s dominance also raises questions for Gabon’s domestic construction sector. Local firms, often confined to subcontracting roles, struggle to scale up due to limited access to major contracts. The issue of who audits Ebomaf’s financial records in Gabon remains unresolved.