The World Bank Group has imposed an eight-month sanction on Christian Magni, a Gabonese national, due to his involvement in a corrupt practice related to an International Finance Corporation (IFC) investment in Société d’Exploitation du Transgabonais (SETRAG). SETRAG is responsible for managing the Transgabonais railway under a long-term agreement.
The IFC loan aimed to support the rehabilitation of existing railway infrastructure and the acquisition of new rolling stock. Magni, who has served as Chief Executive Officer (CEO) of SETRAG since October 2020 and was previously Deputy CEO, engaged in questionable activities in September 2020. During this time, he acquired an All-Terrain Vehicle (ATV) through a SETRAG supplier while the supplier was seeking payment for previous invoices and requesting new services from the company. This act constituted a corrupt practice.
Magni faces conditional non-debarment, allowing him to remain eligible for participation in Bank Group-financed projects as long as he fulfills obligations under a settlement agreement. Failure to comply will result in debarment with conditional release until conditions are met.
The World Bank Group acknowledged Magni's cooperation with their Integrity Vice Presidency, his admission of misconduct, and voluntary corrective actions such as returning the ATV. As part of his release conditions from sanction under the settlement agreement terms, Magni agreed to undergo corporate ethics training and maintain cooperation with INT.