Economic Diversification in Gabon

Gabon is one of the most economically developed countries in Africa. Yet, there is still a major disparity in income among its residents. This is mainly due to the fact that Gabon's main source of production is oil. When a country has mainly one source of production, the economy isn't very stable because the economy fluctuates, so demand for their good will constantly go up and down. This is why economic diversification is a key factor to maintaining a country's economic stability. President of Gabon, Ali Bongo Ondimba understands the importance of  diversification and this is why he has new plans to expand the economy into other sectors outside of oil production.

President of Gabon, Ali Bongo Ondimba

President Ondimba recently discussed some of his initiatives to expand the economy of Gabon with Oxford Business Group. He mentions in his interview a current program his administration has created to close the gap between the wealthy and poor called "Achieving Agricultural Outcomes with Engaged Citizenry". The purpose of this program is to provide land grants to residents. Allowing for more people to obtain land will be an effective way for more residents to earn a living from farming. Aside from this program, the country is also working to boost tourism. Additionally, Gabon is working on getting more international investors to do business in the country.

The new strives that President Ondimba are making to close the gap between the wealthy and the poor will surely make a difference in allowing low income residents of Gabon to improve their lifestyles. The oil industry in Gabon is dominated by the wealthy. However, by introducing new programs such as the "Achieving Agricultural Outcomes", more residents will have the opportunity to contribute to the economy and earn a decent living. One of most vital pieces of any economy is an investment in human capital. Initiatives such as this are certainly an investment in the people of Gabon, and it will make all the different for the residents of Gabon and the country as a whole. Expanding tourism will also be a new form of job creation for Gabonese people, as more more residents can take jobs as tour guides, etc. Not to mention that expanded tourism will also create a larger demand for hotels and resorts within the country. Lastly, working on international investment is a strategic way to diversify the economy as more countries will be willing to loan the capital needed to create new opportunities. 

Gabon is already making progress in improving their economy just by even planning ways to diversify their economy. With the combination of economic diversification and investing in its human capital, the country's wealth will improve and offer a higher standard of living for more residents and a better quality life. 

Source(s):

Oxford Business Group. "Ali Bongo Ondimba, President of Gabon, on economic reform and diversification". 26 August 2016.
http://www.oxfordbusinessgroup.com/views/ali-bongo-ondimba-president-gabon-economic-reform-and-diversification.

GETTING TO KNOW THE COUNTRY OF GABON

The country of Gabon does not come to most minds when one thinks of Africa. People usually think about commonly known African countries such as Nigeria or Egypt. Despite the unpopularity of Gabon, it is one of the Africa's most economically developed countries and new initiatives are being created to increase investment, so it is definitely an African country to look out for. Here is a brief synopsis of the country. 

GEOGRAPHY, ETHNIC GROUPS, AND LANGUAGE
Gabon is located in Central Africa between Equatorial Guinea and Republic of Congo. The country is comprised of over 40 ethnic groups, with the Fang and Nzebi being the largest. Most Gabonese ethnic groups stem from Bantu origin. The official language for the country of Gabon is French, but in recent years the country has contemplated changing its official language to English due to disputes with France.

Fang Ethnic Group
(one of major ethnic groups in Gabon)

POLITICS
The political system of Gabon can be viewed as a republic in which a President is elected, who then appoints a Prime Minister. The legislative branch of Gabon consists of a Parliament. The Parliament has two chambers:  The National Assembly and Senate, where each chamber is responsible for creating and passing laws on a national and state level.  The rule of law is based on the Gabonese Constitution established in the 1990's. The Supreme Court in Gabon is responsible for upholding this rule of law. The current President of Gabon, Ali Bongo is son of Omar Bongo, who was president from 1967 to his death in 2009. After Omar Bongo's death, Ali Bongo was elected.

STANDARD OF LIVING
Though Gabon is one of the most economically developed countries in Africa, income is not proportionately distributed and many find themselves in poverty. Despite this, the standard of living for regular Gabonese people is improving as the President takes on new initiatives to decrease unemployment by offering incentives for more investors to enter into the country.

RELIGION & CULTURE
The major religion in Gabon is Christianity, yet there are small percentages of people that practice other religions. The Gabonese people are highly spiritual and a lot of their traditions are centered around religion. In addition, the Gabonese are very artistic and are known for their mask making. To get an up close view of Gabonese art, there is a virtual museum of traditional arts for Gabon which you can view here:  http://www.gabonart.com/visites-virtuelles/carnet-de-voyage.

Gabonese Mask created by Fang people
representing harvest time. 

To get a better sense of the people that make up the country of Gabon, here are couple of more links to a traditional Gabonese dance and a recipe for Gabonese Mustard Chicken.

https://www.youtube.com/watch?v=gAdSJwtQlxs

http://thehungarybuddha.com/2013/03/cheater-cheater-french-food-eater-gabons-mustard-chicken-and-cucumber-salad/

Sources:
CIA World Fact Book: https://www.cia.gov/library/publications/the-world-factbook/geos/gb.html
BBC News "Gabon Country Profile". 27 September 2016.