Gabonese President Brice Clotaire Oligui Nguema has appointed Thierry Minko as minister of economy, finance, debt and state holdings in a cabinet reshuffle, marking a new phase in the country’s post-transition political and economic reset.
Minko replaces Henri-Claude Oyima, a prominent banking executive who was appointed finance minister in May 2025, shortly after Oligui Nguema won the first presidential election since taking power in a 2023 coup. Oyima’s tenure drew public attention because he retained his role as chairman and chief executive of BGFI Group while serving in government, a dual position that prompted scrutiny, particularly as the bank pursued a long-planned listing on the Central African regional stock exchange, BVMAC. The listing, seen as a landmark transaction for the region’s financial market, has faced repeated delays and remains unresolved.
The presidency said the reshuffle was aimed at creating a streamlined and more efficient government, focused on institutional stability, economic recovery and restoring confidence after the political transition that began in August 2023.
Minko will head one of the most powerful portfolios in the new administration, with responsibilities spanning economic policy, budget preparation and execution, public debt management and oversight of state shareholdings. His mandate also includes tackling the rising cost of living, a politically sensitive issue as households face sustained pressure from inflation and declining purchasing power.
The appointment comes at a time of heightened concern over Gabon’s public finances. Debt levels are under close scrutiny following a sovereign downgrade by Fitch Ratings on Dec. 19, which cut Gabon’s long-term foreign-currency rating to “CCC-” from “CCC”. The agency cited severe liquidity constraints, weakening access to financial markets and rapidly rising public debt.
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Fitch said Gabon has become increasingly reliant on regional capital markets to meet its financing needs, but investor appetite has deteriorated sharply. The agency expects government debt to rise steadily over the medium term, driven by large financing requirements, higher interest costs and limited access to concessional funding.
Against this backdrop, authorities have signalled that tighter oversight of public finances and improved debt management will be central to the new government’s agenda. Officials say restoring fiscal credibility is essential to stabilise the economy, secure financing and rebuild investor confidence.
Little is publicly known about Minko’s background, but his appointment underscores the government’s intention to place debt management and price stability at the heart of economic policy. Analysts say his effectiveness will be tested quickly, given the scale of fiscal pressures and public expectations for tangible improvements in living standards.
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The new cabinet comprises 31 members and reflects an unusual institutional structure, with President Oligui Nguema also serving as head of government. The role equivalent to prime minister vice president of the government — was assigned to Hermann Immongault, the former interior minister who oversaw the organisation of elections. Hugues Alexandre Barro Chambrier was appointed vice president of the republic.
Other key appointments include Adrien Nguema Mba as interior minister, Marie-Edith Tassyla-Ye-Doumbénény as foreign minister, Augustin Emane as justice minister and Clotaire Kondja as oil minister.
As the post-transition government settles in, markets and citizens alike will be watching closely to see whether the new economic team can rein in debt risks, stabilise prices and lay the groundwork for a more sustainable recovery.
