Despite growing competition, Gabon’s three largest lenders continue to maintain substantial market shares. Combined, BGFIB ank, Banque Internationale pour le Commerce et l’Industrie du Gabon (BICIG), and Union Gabonaise de Banques (UGB) accounted for more than 80% of all loans and deposits in the country as of March 2012, according to the...
Political stability, strong fundamentals and robust economic expansion have been the underlying drivers of the success of Gabon’s banking sector. The year 2011 saw strong growth in deposits, loans and new accounts, while measures to increase stability reduced the risk of overheating.
Significant changes have taken place in the insurance sector in Gabon, expanding opportunities for investment. Addressing the issue of unpaid premiums, the regional regulator has adopted a new norm with regard to the relation between clients, brokers and insurance companies. It has also adopted a new regulation aimed at encouraging investments in...
Since 2009, the number of players in the banking sector has increased from seven to nine. A tenth is soon to be added as the Gabonese postal service rolls out the Poste Bank. In a country of 1.5m people, competition is growing, which in turn is driving innovation in an effort to increase customer retention and win over new commercial and retail...
Having noticed that insurance companies operating in Gabon were transferring, on an annual basis, about 50% of their premiums to international reinsurance companies, the government has sought a solution to ensure that such capital serves the financing needs of the country instead of going abroad.
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