MWE Correspondent
Gabon’s President Brice Oligui Nguema has reshuffled his economic leadership, dismissing Finance Minister Henri-Claude Oyima and appointing a new official at a time when the country is under increasing financial strain from rising debt and pressure on public finances.
According to a statement from the presidency, Nguema has appointed Thierry Minko as Minister of Economy, Finance, Debt and State Holdings, placing him in charge of steering the economy through a difficult period marked by liquidity challenges and high living costs. The expanded portfolio signals the government’s intention to centralise economic decision-making as it seeks to stabilise the situation.
The leadership change comes as Gabon, a Central African oil-producing nation, continues to struggle with persistent fiscal imbalances despite its natural resource wealth. Over recent years, the government has increasingly turned to regional capital markets to meet its financing needs, a move driven by limited access to cheaper international borrowing and growing debt obligations.
Henri-Claude Oyima, a well-known banker and business figure, was appointed finance minister in May last year following Nguema’s election victory, the first presidential poll since the 2023 military takeover. His appointment was initially viewed as a move to reassure markets and bring financial expertise into government. However, his removal suggests the presidency is now seeking a different strategy as economic pressures intensify and expectations for tangible reforms grow.
President Brice Oligui Nguema, who came to power after the 2023 coup, has repeatedly promised to restore fiscal discipline, improve governance and ensure more transparent management of public resources. His administration has also committed to tackling structural weaknesses such as a narrow tax base and heavy dependence on oil revenues, which leave the economy vulnerable to global price fluctuations.
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The appointment of Minko is seen by analysts as an effort to inject new momentum into these reform pledges. By combining oversight of economic policy, debt management and state holdings under one ministry, the government appears to be aiming for a more coordinated response to its financial challenges, including rising debt servicing costs and inflationary pressures affecting ordinary citizens.
As a member of the Central African Economic and Monetary Community, Gabon operates within a regional monetary framework that limits its ability to adjust interest rates or currency policy independently. This makes prudent fiscal management and credible reforms all the more critical as the country navigates a challenging economic environment.
With oil revenues under strain and borrowing needs increasing, investors and regional partners will be closely watching how the new finance team performs. The success or failure of these changes is likely to play a key role in shaping Gabon’s economic outlook in the months ahead.
