Gabon’s dollar bonds surged after the junta declared presidential elections for April 12, 2025, indicating a shift towards civilian rule. Energy Minister Séraphin Akure-Davin confirmed adherence to regulations for the elections, which will follow a new constitution that transitions Gabon to a presidential system. Nguema, who led the coup in August 2023, is now the transitional president. The upcoming elections have generated positive investor sentiment, though Gabon’s economic stability remains tied to oil revenues.
Gabon’s dollar bonds experienced a notable rally following the junta’s announcement that presidential elections will be held on April 12, 2025. This move signals a possible return to civilian governance after the military coup led by Brice Oligui Nguema in August 2023. The announcement aligns with the timeline promised by military leaders to transition back to democratic rule.
Energy Minister Séraphin Akure-Davin confirmed that the election will adhere to existing regulations, although no candidates have announced their intentions to participate yet. Following the adoption of a new constitution in November 2024, Gabon will implement a presidential system, eliminating the prime minister position, and establish a seven-year presidential term alongside a one-time re-election limit.
The military leadership’s rationale for the coup stemmed from allegations of irregularities in previous elections. Nguema, who was the commander of the Republican Guard, assumed the role of transitional president post-coup, cementing the military’s authority during a turbulent political period.
The announcement of the election date and constitutional reforms represent a significant step towards stabilizing Gabon’s political framework. The positive bond market response reflects investor optimism regarding the potential for improved governance. However, Gabon’s reliance on oil revenues poses ongoing challenges to its economic sustainability. The international community’s perspective on military transitions remains cautious, yet the planned return to civilian rule could enhance Gabon’s attractiveness to global investors.
Original Source: dabafinance.com
