Banking

While Gabon’s banking sector is one of the more developed in the Economic Community of Central African States, penetration lags behind its sub-Saharan African peers. Banking assets accounted for 21% of GDP in 2012, according to the IMF, while the private sector’s ratio of credit to GDP stood at 11% (19% of non-oil GDP). As of April 2013 there were just over 266,000 accounts for 1.5m people. Yet as banks’ over-liquidity continues to grow, the sector will be looking to expand its intermediation to the real economy. The €25.5bn Emerging Gabon development strategy is expected to create greater demand for long-term funding, and Gabonese banks should have a bigger role to play in this as new regulations aim to encourage local content. This chapter contains a viewpoint from Lucas Abaga Nchama, Governor, Bank of Central African States (BEAC); and an interview with Thierry Tanoh, Group Chief Executive Officer, Ecobank Transnational.