L’Archer raises 30 billion to finance SEEG
According to our colleagues at Financial Afrik, the Congolese financial group L’Archer has structured a bridge loan for the Gabonese State, backed by a public securities issuance on the regional bond market, to enable the SEEG to pay approximately 30 billion FCFA to Karpowership.
T he operation aims to clear a portion of the arrears owed to the Turkish operator, whose floating power plants have been supplying Greater Libreville since 2025.
Financial Structure According to the published details, L’Archer acted as the arranger by organizing an issuance of public securities, the proceeds of which were then converted into a bridge loan for the benefit of the SEEG.
The scheme allows the public operator to access liquidity quickly while subsequently deferring repayment toward a bank credit intended to refinance the State. This structure addresses a classic public treasury constraint: mobilizing local resources rapidly without immediately resorting to more costly external financing.
Operational Stakes The payment of this first installment of 30 billion FCFA comes amidst persistent tension between the SEEG and Karpowership, the Turkish company having already brandished the threat of a supply suspension. It is therefore a measure of appeasement, rather than a definitive settlement of the debt, as the SEEG's overall indebtedness remains above 150 billion FCFA. In practice, the operation secures the electricity supply for Libreville in the short term.
Technical Review This file illustrates the rise of domestic financial engineering in Central Africa, capable of addressing liquidity emergencies related to essential public services. L’Archer thus positions itself on structures where the traditional banking market struggles to intervene, particularly when it is necessary to combine sovereign risk, social urgency, and structured refinancing. For Gabon, the stakes go beyond simple payment: it is also a matter of restoring confidence surrounding the financing of the electricity sector.
