Maina wa Njuguna
Gabon 🇬🇦 is the fifth richest country in Africa after Seychelles, Mauritius, Libya, and South Africa rounding up the top five per Gross National Income (GNI).
In a headlining rare debt exchange deal, the country signed off $500 million national debt exchange for marine conservation of its rich biodiversity with Bank of America (BOA) and The Nature Conservancy (TNC).
A major part of refinancing its debt for nature is also to hasten the country’s transition to a green economy at such a time where climate change factors high on nations and corporations economic goal posts.
Why Gabon is considered Africa’s Eden or hidden gem?
• Gabon is said to have the best beaches ⛱️ of the entire African coastline.
• It is the most urbanized country in Africa and one of the most globally.
• 88% of the country is forested. The country is home to fifteen national parks, diverse wildlife and pristine coastline.
• Gabon exports most of its petroleum production outside Africa, with the much of the crude oil going to the France and the United States.
• Gabon’s wealth is as a result of its immense oil and mineral reserves and a relatively small population, and is able to protect and preserve its pristine rain forests with a rich biodiversity.
• Gabon is known for its rich biodiversity and is often referred to as “Africa’s Eden”. It is part of the Congo basin, also known as the ‘lungs of Africa’ is the second largest carbon sink in the world after the Amazon.
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