SovereignWealthFunds.comFonds Gabonais d'Investissements Strategiques
Fonds Gabonais d'Investissements Strategiques: what it invests in
Geography Mainly domestic
Fonds Gabonais d'Investissements Strategiques: how big it is, and on what basis
In US dollars: about USD 1.9B. Tracked assets as reported in the press.
Fonds Gabonais d'Investissements Strategiques: what it publishes
Published 6 · Partly 2 · Not published 2
Our 10 item score. It measures what is public, not how well a fund is run.
At a glance. FGIS manages Gabon's sovereign fund, the FSRG, and the State's unassigned holdings. Set up in 2012, it acts as a development fund: power and water PPPs, urban projects, SME equity through Okoume Capital, and stakes in banks and telecoms. Tracked assets were about USD 1.9 billion at end 2024, of which about USD 500 million is directly managed. S3 S1 S5 S6
Key points
- Targets over XAF 400 billion of managed assets by 2027 and about FCFA 600 billion of value by 2030. S1
- About 31 percent of the portfolio is in banking, private equity, guarantees and insurance. S1
- Most new money went to three energy projects: SEEG restructuring, Dibwangui dam and Kinguele Aval. S5
- The FSRG received FCFA 16.0 billion in 2024 from oil operators and dividends. S1
- Exclusive agent for marketing Gabon's carbon credits since November 2022. S3
- Accounts certified by EY; IFSWF full member since January 2022. S1 S2
Interesting facts
Mandate and goals
FGIS aims for shared prosperity for current and future generations through inclusive, sustainable development, with a dual goal of financial return and social impact. Under the 2012 ordinance the FSRG takes stakes in Gabonese and foreign firms, backs growing SMEs and steadies strategic companies. S3 S1
How it invests
| Industries | Financial services, Infrastructure and utilities, Telecoms and media, Real estate, Tourism and hospitality, Agriculture and food security, Healthcare and life sciences, Renewables and climate S11 S1 |
|---|---|
| Asset classes | Private equity, Infrastructure, Real estate, Strategic state holdings, Cash and money markets S1 |
| Stages | Growth, Infrastructure, Real estate S1 |
| Geography | Mainly domestic. Mostly Gabon; some pan-African funds such as RISE S11 S3 |
| Direct / through funds / co-invest | Yes / Yes / Yes S3 |
| Ticket size | No ticket size is published. S1 |
| Deal sizes seen | FCFA 2B to 4.8B per 2024 disbursement |
| External managers | Holds interests in funds such as RISE S3 |
| Co-investment programme | PPP vehicles with international operators and co-owned funds S3 |
Sector weights: Banking, private equity, guarantees, insurance 31%, Energy and infrastructure 14%, Telecoms and technology 10%, Urban development 7%, Tourism 7%, Other 31% (as of 2024-12-31) S1
Past investments
| Year | Investment | Type | Sector | Stage | Amount | Stake |
|---|---|---|---|---|---|---|
| 2024 | UGB shares. Bought 3.75 percent of the bank's capital. S1 | Direct investment | Financial services | Growth | FCFA 4.8B | 3.75% |
| 2024 | Gabon Power Company. PPP vehicle for power and water access. S1 | Direct investment | Infrastructure and utilities | Infrastructure | FCFA 4.15B advances | |
| 2024 | Facade Maritime du Champ Triomphal. Developer of La Baie des Rois in Libreville. S1 | Direct investment | Real estate | Real estate | FCFA 2B advance | |
| Not published | Dibwangui dam and Kinguele Aval. Hydropower projects among three energy projects that took 88 percent of investment. S5 | Direct investment | Renewables and climate | Infrastructure | Not published | |
| Not published | SEEG restructuring. Management of the national water and power utility moved to the fund. S5 | Direct investment | Infrastructure and utilities | Infrastructure | Not published | |
| Not published | Okoume Capital. Wholly owned private equity arm for SMEs. S1 | New company or platform | Financial services | Growth | USD 32M SME support (reported) | |
| Not published | RISE infrastructure fund. Transport infrastructure fund co-owned with the Islamic Development Bank. S3 | Fund commitment | Transport and logistics | Infrastructure | Not published | |
| Not published | Gabon Telecom and BICIG stakes. Holdings paid FCFA 3.18B and FCFA 3.42B of dividends. S1 | Direct investment | Telecoms and media | Growth | FCFA 6.6B dividends (2024) | |
| Not published | SCG-Re. Reinsurer with about FCFA 50B of assets; IPO on the regional exchange announced. S1 | Direct investment | Financial services | Growth | Not published |
Case studies
Powering Gabon S5
- What: Directed most investment to SEEG restructuring and two hydropower projects, Dibwangui and Kinguele Aval.
- When: Through 2024
- Size: 88 percent of investment
- Why: Power and water shortfalls limit growth; the fund acts as the State's project vehicle.
Okoume Capital and SME champions S1
- What: Runs SME equity through a wholly owned private equity firm and the Fabrique des Champions programme.
- When: Ongoing
- Size: USD 32M SME support (reported)
- Why: Diversifying away from oil needs a stronger local private sector.
La Baie des Rois S1
- What: Funds the developer of a new Libreville waterfront through FMCT.
- When: 2024
- Size: FCFA 2B advance in 2024
- Why: Urban renewal and tourism are portfolio priorities.
- Outcome: About 1 million visitors in 2024.
Investment process
A board of State representatives, two company executives and the Director General decides through audit and risk, governance, and investment and strategy committees. A Strategic Guidance Council led by the Prime Minister oversees the FSRG. S1
| Committee | Role |
|---|---|
| Investment and Strategy Committee | Investment review S1 |
| Audit, Risk and CSR Committee | Audit and risk S1 |
| FSRG Strategic Guidance Council | Prime Minister, parliamentary heads and ministers of Economy, Budget and Hydrocarbons S1 |
- Projects are set up as PPP vehicles with operators, or SMEs approach Okoume Capital. S7 S1
- Committees review; the board approves. S1
How to approach: Use the contact form on the FGIS website; SMEs can approach Okoume Capital. S7
Size and returns
- Headline size: About USD 1.9B (Portfolio value, as of 2026-09-23) S5 S6
- In US dollars: about USD 1.9B. Tracked assets as reported in the press.
- Directly managed assets: About USD 500M (Assets under management, as of 2026-09-23) S6
- FGIS entity balance sheet: FCFA 14.03B (audited) (Total assets (balance sheet), as of 2024-12-31) S1
- FSRG cash at year end: FCFA 27.8B (Fund market value, as of 2024-12-31) S1
- Returns: the fund does not publish a return figure.
Leadership
Governance and transparency
- Legal basis: Ordinance 002/PR/2012, ratified by Law 5/2012 S1
- Oversight: Board of directors; FSRG Strategic Guidance Council; Ministry of Economy and State Holdings S1
- Auditor: EY S1
- Santiago Principles: IFSWF full member since January 2022; 2021 self-assessment S2 S8
- Board met 6 times and committees 13 times in 2024. S1
Transparency score: 7.0 of 10 (band 4 of 5). Our own 10-item rubric; see the methodology page.
History
For family offices
FGIS partners with operators in PPP vehicles and co-owns funds with development banks, so investors meet it as a project co-sponsor in Gabon. S3
- Co-invest in PPP vehicles for power, water and urban projects. S7
Reports
- Annual Report 2024: https://bit.ly/FGISAnnualReport2024 S1
- Santiago Principles self-assessment 2021: https://www.ifswf.org/assessment/fgis-2021 S8
Common questions
What is FGIS?
Gabon's strategic investment fund, created in 2012 to manage the sovereign fund FSRG. S3
Who runs it?
Ismael Libizangomo, named Director General in September 2026. S4
How big is it?
About USD 1.9 billion of tracked assets; its own balance sheet is FCFA 14.03 billion. S5 S1
Is it an IFSWF member?
Yes, since January 2022. S2
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Sources
- S1FGIS, Annual Report 2024
- S2IFSWF, FGIS joins the IFSWF
- S3FGIS, About
- S4Agence Ecofin, Ismael Libizangomo to head FGIS (French)
- S5Ecomatin, FGIS triples its assets in a year (French)
- S6Echos de l'Eco, Ismael Libizangomo from BGFI Capital to FGIS (French)
- S7FGIS, home page
- S8IFSWF, FGIS Santiago Principles self-assessment 2021
- S9FGIS, installation of the new Director General, February 2025 (French)
- S10FGIS, News
- S11FGIS, Our activities
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