Around 18 000 Gabonese families are seeking $144 million in compensation from three major commercial banks, Ecobank, UBA, and Orabank, over their alleged role in the collapse of microfinance firm BR-Sarl.
The legal action, spearheaded by the public civil servants’ union CAPPE on behalf of affected depositors, claims $57 million in lost principal investments alongside $87 million in damages. The claimants accuse the financial institutions of facilitating the operations of BR-Sarl despite lingering questions over its legal and regulatory compliance prior to its bankruptcy.
The Libreville Commercial Court adjourned the latest pre-trial hearing until September 3, 2026, to allow all parties to submit further evidence and examine legal documentation. The court emphasized that the adjournment is procedural and does not indicate any preliminary finding of liability against the banks.
Journalist Roland Olouba Oyabi, reporting live from Libreville, noted that the lawsuit carries immense social weight across Gabon, as thousands of families attempt to recover life savings lost in the microfinance scandal.
–ChannelAfrica–
