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Over the last 50 years Gabon’s economy has been largely dependent on oil extraction and this continues to be true today. After reaching peak oil production in 1997, with an average of 370,000 barrels per day (bpd), maturing oil fields and slowing discovery rates have resulted in a decline in output to 245,000 bpd in 2012. Oil companies are embarking on major investment programmes to help boost production from a number of existing oil fields. Access to electricity and water continues to be a challenge, and the government is undertaking a number of reforms to help consolidate the sector. In addition to more conventional renewable resources such as hydro, solar and wind, the government is also exploring the potential of biomass by, for example, using wood waste to generate electricity. This chapter contains interviews with Etienne Ngoubou, Minister of Petroleum, Energy and Hydroelectric Resources; and Izak Elyashiv, CEO, Telemenia; as well as a viewpoint from Charles Tchen, CEO, Independent Petroleum Consultants.

Over the last 50 years Gabon’s economy has been largely dependent on oil extraction and this continues to be true today. After reaching peak oil production in 1997, with an average of 370,000 barrels per day (bpd), maturing oil fields and slowing discovery rates have resulted in a decline in output to 245,000 bpd in 2012. Oil companies are embarking on major investment programmes to help boost production from a number of existing oil fields. Access to electricity and water continues to be a challenge, and the government is undertaking a number of reforms to help consolidate the sector. In addition to more conventional renewable resources such as hydro, solar and wind, the government is also exploring the potential of biomass by, for example, using wood waste to generate electricity. This chapter contains interviews with Etienne Ngoubou, Minister of Petroleum, Energy and Hydroelectric Resources; and Izak Elyashiv, CEO, Telemenia; as well as a viewpoint from Charles Tchen, CEO, Independent Petroleum Consultants.

The past 40 years of oil production have turned this small but strategically positioned Central African state into an upper middle-income economy. The country’s extractive industries are sizeable by global standards, with oil, timber and manganese being key exports. Following the 2008-09 financial crisis, GDP growth provided evidence of a recovery, reaching 7% in 2011 and 5% in 2012, according to the African Development Bank. With a current account and fiscal position persistently in surplus, Gabon has the resources to realise its ambitious public investment plans. The issue will be in balancing its books, namely the non-oil fiscal deficit, and in streamlining its regulatory framework to attract the private investment necessary to finance the target figure of 72% of investments planned by 2025. This chapter contains interviews with Magloire Ngambia, Minister of Investment Promotion, Public Works, Transport, Housing and Tourism; Henri-Claude Oyima, Director and Chairman, BGFI Bank; Nina Abouna, Director-General, Agency for the Promotion of Investment and Exports (APIEX); Yves Fernand Manfoumbi, Director-General of the Budget; and Richard Attias, Executive Chairman, Richard Attias & Associates.

OBG introduces the reader to the different aspects of the legal system in Ghana, in partnership with Bentsi-Enchill, Letsa & Ankomah. This chapter contains a viewpoint from Kojo Bentsi-Enchill, Managing Partner, Bentsi-Enchill, Letsa & Ankomah.

In conjunction with Deloitte & Touche, OBG explores the taxation system, examining Ghana’s investor-friendly environment. This chapter contains a viewpoint from Andrew Opuni-Ampong, Managing Partner, Deloitte & Touche.