Nigeria’s leading carrier, Air Peace Limited, has expanded its regional footprint with the commencement of inaugural flight operations on the Lagos-Douala-Libreville route. With this service, the airline has reinforced its commitment to deepening intra-African connectivity and linking more African cities through its growing network. Air Peace stated in a statement that the new route marks another significant milestone in the airline’s strategic expansion across the continent, connecting Nigeria’s commercial capital with Cameroon and Gabon while creating greater opportunities for business, trade, tourism, cultural exchange and stronger people-to-people relationships across Central and West Africa. Upon arrival at the Douala International Airport, the Air Peace delegation, led by the airline’s Chief Commercial Officer, Mr. Nowel Ngala, and Director of Flight Operations, Captain Augustine Kamano, was warmly received by Mrs. Suliat Paramole, Foreign Affairs Officer, Nigeria General Consulate, representing the Nigerian Ambassador to Cameroon; Hon. Chief Sir Lovinus Ezeh. Keep up with the...

Gabon’s public debt is set to rise to 94.3% of gross domestic product in 2027 from 70.9% in 2024, according to the International Monetary Fund. The ratio is projected at 78.9% in 2025 and 86.1% in 2026, an increase of 23.4 percentage points over 3 years. The figures are IMF staff estimates based on data available through April 2. The path puts Gabon at odds with sub-Saharan Africa. The debt ratio for the median country fell to 53.1% in 2025 from 57.2% in 2024 as growth, exchange rates and debt restructuring supported public finances. Ethiopia, Ghana and Zambia made progress on debt workouts during the year. The region’s median budget deficit narrowed to 3% of GDP. Gabon’s budget balance explains much of the increase. The deficit, including grants, widened to 8.5% of GDP in 2025 from 3.3% in 2024. The IMF expects the gap to reach 10% in 2026 and...

The sovereign credit ratings of the leading credit rating agencies are most visible through their outputs: an upgrade, a downgrade or a change in “outlook”. The evaluative work that produces those outcomes receives far less attention. Yet it is precisely that work that explains why credit rating agencies occupy such an influential position in international finance. The recent case of Gabon provides an unusually clear opportunity to observe this process in action. Gabon had recently: Follow us on WhatsApp | LinkedIn for the latest headlines revised its budget widened its deficit – meaning that it expected government spending to exceed revenues by an even larger margin planned a Eurobond (borrowing from international investors in a foreign currency). It was also in negotiations with the International Monetary Fund to launch a new programme that would combine financial support with commitments on fiscal and transparency reforms. In addition, an audit that was...