In an unprecedented move this November, Gabon successfully repurchased nearly half of its dollar-denominated bonds due in 2025. The $290 million buyback marks a historic financial operation for the nation, achieved with the support of the Gabonese Union of Banks (UGB), a subsidiary of Morocco’s Attijariwafa Bank, along with contributions from both local and international financial partners.
This ambitious undertaking was financed through bond issuances in the sub-regional market, orchestrated via two domestic syndication operations led by UGB and pan-African banks. The innovative strategy allowed Gabon to convert a portion of its external dollar debt into internal CFA franc debt, significantly boosting the country’s financial stability.
The achievement reflects the commitment of Attijariwafa Bank to fostering economic and financial growth in Gabon and the broader CEMAC (Economic and Monetary Community of Central Africa) region. Moreover, it underscores the growing influence of African banks on the global financial stage.
