A new headquarters for the Bank of Central African States in Gabon is now under construction.
A new headquarters for the Bank of Central African States in Gabon is now under construction. The foundation stone for the new building was laid by Gabon's President, El Hadj Omar Bongo, during a ceremony in Libreville on Friday (12 January).
SYNOPSIS: President Bongo flew into the capital city to preside over the dedication. He was greeted by bank and government officials.
The President led the delegation down the red carpet to the future site of the Bank of Central African States - an institution which benefits the nations of Gabon, Chad, Congo, Cameroon, and the Central African Republic.
Local dancers performed as part of the celebration. The Central bank is especially important to the five central African nations. It will give the loans for economic development which other banks would refuse, due to their countries developing economies. The bank also symbolises the desire for greater African control of African resources. The former French colonies of West and Central Africa are still, to some extent, dependent on their Paris banking ties. The central bank complex is expected to be completed in 1981.