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Gabon restricts wood exports [Business Africa]

Gabon restricts wood exports [Business Africa]

Business Africa

The Gabonese government has imposed a definite ban on three highly priced wood species. The announcement comes a decade after the ban on logs in this Central African nation. The news has been welcomed by small operators.

They see the plan as an opportunity to protect segments of the processing sector and lower prices of raw materials. But industry players say the move could cost investors their cash.

And Egypt’s borrowing needs would likely reach 820.7 billion Egyptian pounds or $48 billion in the 2019/2020 fiscal year. This is an increase of 26 percent from 2018, a draft budget cited by Reuters show.

We must now declare these essences to be the heritage of the Gabonese people. Therefore, inalienable and cannot be sold.