Gabon is grappling with significant financial liabilities resulting from extravagant private jet travels during the latter years of Omar Bongo’s presidency, according to a report from Africa Intelligence. These unsettled debts, amounting to approximately USD90 million, now threaten the government’s shares in TotalEnergies Gabon.
The unresolved invoices stem from numerous trips made between 2006 and 2010, including flights taken by Bongo’s daughter, Pascaline Bongo, to various global destinations like Miami, Los Angeles, and several European capitals. These flights were initially managed by Swiss charter broker TraVcon AG, which has since declared bankruptcy and passed the outstanding debts to Whitewell Limited AG.
This financial burden continues under the new regime, which took power after the 2023 coup that ousted Ali Bongo Ondimba, Omar Bongo’s son. The interim government, led by President Brice Clotaire Oligui Nguema, inherited these debts and is facing repercussions including potential asset seizures.
Legal proceedings initiated by TraVcon in 2016 led to a 2022 court ruling by the St Gallen cantonal court in Switzerland, mandating the Gabonese state to pay Whitewell USD4 million and EUR2.5 million (USD2.6 million), including retrospective interest from 2009. Despite an appeal, the Swiss Federal Supreme Court upheld the decision.
As a result, Whitewell has taken precautionary actions such as seizing Gabon’s dividends from TotalEnergies EP Gabon. This action has already impacted Gabon’s dividend receipts in 2023 and may continue into 2024, significantly affecting the nation’s financial resources.
Whitewell aims to convert these precautionary seizures into definitive ones if Gabon fails to settle its debts, which could lead to the forced sale of Gabon’s shares in TotalEnergies EP Gabon. Meanwhile, Gabon maintains that the aviation bills are not a state responsibility and has so far declined to engage in settlement discussions with Whitewell.
This ongoing financial dilemma highlights the long-term consequences of the Bongo family’s governance, which has left the current administration with a challenging legacy to navigate.
