Gabon launches $38bn steel plant and reforms utilities amid budget surplus

The Gabonese government inaugurated the Prometal Gabon steel complex in the Nkok special economic zone on 1 July 2026. The $38 billion (38 bn FCFA) investment will initially process scrap metal, with an annual capacity of 78,000 tonnes of steel products, creating 1,350 jobs and targeting near‑term self‑sufficiency in construction steel. A second phase will add a direct‑reduction unit to use domestic iron ore, further boosting industrial autonomy and projected annual tax revenues of about 12 bn FCFA.

In the same week, Libreville reported a municipal budget surplus of 1.311 bn FCFA for the 2025 fiscal year, the largest recorded in recent local government history. Mayor Eugène Mba presented the surplus as a platform for investment, citing the forthcoming Mindoubé commercial complex as a key project to diversify city revenues and spur urban growth.

Concurrently, the Akanda district saw a coordinated demolition of illegal structures along a planned 11.5‑km, four‑lane arterial road linking the Carrefour des Neuf Provinces to the northern beach. The operation, led by the National Urbanism Agency and the special urbanism brigade, aims to clear the public domain for the road and the broader Mondah Beach development programme.

Finally, the Council of Ministers approved the split of the SEEG into two mixed‑ownership entities – Gabonaise des Eaux and Électricité du Gabon – mirroring reforms already undertaken in several other African countries. The separation is intended to improve governance, attract investment and enhance service quality in water and electricity provision.