"Gabon\u2019s Junta Gets Direct Access to $620 Million Timber Industry"

" Gabon\u2019s Junta Gets Direct Access to $620 Million Timber Industry \r\n The junta in Gabon, the world\u2019s second-most forested nation, has taken full control of the nation\u2019s timber company, giving it direct access to a $620 million industry. \r\n The military rulers took over control of the Soci\u00e9t\u00e9 Nationale des Bois du Gabon from the Gabon Special Economic Zone, which is managed by Dubai-based Arise IIP and the African nation\u2019s government. \r\n Gabon\u2019s timber industry accounts for about 3.2% of the $19.4 billion economy, according to the World Bank. The government has so far strictly controlled logging and banned exports in 2010. The decree brings 600,000 hectares (1.5 million acres) of forest under the junta\u2019s control, military leader Brice Oligui Nguema said. \r\n \u201cThis shows our determination to protect our resources, manage them responsibly and make them a driving force for the development of our country,\u201d Nguema said on X. \r\n The junta has been taking over assets. Earlier this year it used its preemptive rights to buy shares in Assala Energy, preventing a sale to Etablissements Maurel & Prom SA by the Carlyle Group. \r\n The latest move will help the military rulers improve the use of Gabon\u2019s forest assets, according to Marc Ona Essangui, head of the Brainforest, a non-state organization, and third vice-president of the nation\u2019s Senate. \r\n \u201cThe challenge today is to set up the mechanism for controlling logging,\u201d Essangui said. \u201cWe must have systems for the monitoring and the traceability of wood. We must have a forest code that lives up to international standards and above all one that guarantees the sustainable exploitation of forest resources.\u201d \r\n The junta signed a memorandum of understanding with Arise IIP on Monday, Nguema said. It wasn\u2019t immediately clear whether Arise was compensated. The company couldn\u2019t be reached for comment by phone or e-mail outside office hours. "

"Gabon\u2019s Junta Gets Direct Access to $620 Million Timber Industry"

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