Managem to Invest 85 Billion FCFA in Gabon's Gold Sector
Moroccan group Managem plans to invest 85.2 billion FCFA in Gabon's gold industry as part of a larger 436 billion FCFA initiative across Africa. This investment aims to boost gold production and diversify Gabon's economy away from hydrocarbons.
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Managem will allocate 85.2 billion FCFA for the development of Gabon's gold sector, as part of a broader 436 billion FCFA investment across five African countries. The majority of this funding will support the Etéké mining project in the Ngounié province, which aims for commercial production to begin in Q4 2028, targeting an annual output of 60,000 ounces of gold.
This investment aligns with Gabon's strategy to reduce its reliance on hydrocarbons and manganese, enhancing local employment and infrastructure development. Gabon captures 20% of Managem's total investment in Africa, reflecting its growing appeal to major mining companies.
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