Gabon leasing association launches to boost business finance
The new professional body aims to increase leasing's role in funding productive investments and company growth.
The Gabonese Association of Leasing Actors (AGA CB) has officially formed in Libreville, supported by the International Finance Corporation (IFC). This initiative aims to make leasing a key tool for financing investments, developing companies, and transforming the Gabonese economy. The association's creation is seen as a significant step in structuring a sector with substantial potential but currently underutilized.
During its constituent general assembly, members reviewed statutes and internal regulations to establish a framework for the new association. Ruffin Nzoghé Ndong Simore, elected president, stated that the AGA CB's creation addresses the major challenge of giving leasing a more prominent role in financing the Gabonese economy. In 2021, leasing finance stood at 22.3 billion CFA francs, representing only 2.6% of private sector financing, despite a market potential estimated between 180 and 200 billion CFA francs annually.
Leasing allows businesses, particularly small and medium-sized enterprises (SMEs), to acquire necessary equipment without significant upfront capital, thereby supporting modernization, job creation, and economic diversification. Serge Bertrand Abessolo, representing the Minister of Economy, emphasized that leasing is a vital instrument for supporting private investment, especially for SMEs. The ongoing reform process, initiated in 2021, seeks to establish an appropriate legal, fiscal, and institutional framework for the sector.
Why it mattersGabonese businesses, particularly SMEs, are affected by the launch of the AGA CB as it aims to make leasing a more accessible and significant tool for acquiring necessary equipment and financing growth.