Gabon: Public procurements under $241,000 to be granted to local SMEs to spur entrepreneurship

The junta in power in Gabon, the Committee for the Transition and Restoration of Institutions (CTRI), decided Thursday to leave from now on all public procurements below $241,000 to local small and medium enterprises (SMEs) in a move to boost entrepreneurship in the central African country.

“From now on, public works contracts worth less than 150 million CFA ($241,000) will be reserved for small and medium-sized Gabonese companies,” the Committee said in a statement.

The CRTI also announced the payment of the public interior debt.

The CRTI led by General Brice Clotaire Oligui Nguema seized power on August 30 removing longtime leader Ali Bongo Ondimba who led the country for 14 years, since the death of his father Omar Bongo Ondimba in 2009.

Oligui Nguema was inaugurated on September 04 President of the transition. The General promised to redistribute the wealth of the country to all Gabonese and to spur the economy by promoting local entrepreneurs and investors.