The move by President Ali Bongo Odimba to clamp down on his chief political rival could raise tensions in the normally sleepy central African state, after Mba Obame supporters took to the streets in violent protests earlier this year.
Gabon’s parliament on Thursday removed Mba Obame’s parliamentary immunity to allow the state prosecutor to pursue treason charges against him, in a vote shunned by opposition members.
Mba Obame representatives were not available to comment.
Samir Gadio, emerging markets strategist at Standard Bank said tensions have eased in recent months in the 240,000 barrels per day petroleum-producing nation and it is still to be seen whether Mba Obame would be prosecuted.
“Overall, the political situation is likely to remain broadly stable in coming weeks and should not directly affect the Gabonese Eurobond,” Gadio said.
The bond, has rallied so much since March to 5.3 percent or a spread of 284 bps that there is limited incentive to buy or hold the instrument at present, he added.
Mba Obame, who has always contested his defeat in an August 2009 poll against Bongo, took a presidential oath in January and told thousands of his supporters that they were “no less brave than the Ivorians”, or the Tunisians.
Ivory Coast incumbent leader Laurent Gbagbo was ousted last month after refusing to step down following an election he was judged to have lost, and a popular uprising in Tunisia toppled leader Zine al-Abidine Ben Ali.
Gabon security forces cracked down on two demonstrations shortly after the illicit swearing-in ceremony, firing tear gas canisters and injuring dozens.
Bongo’s election in 2009 allowed him to take over power from his father and led to days of rioting across the country as opponents accused him of vote-rigging.
Final results put Bongo first with 41.79 percent, veteran opposition figure Pierre Mamboundou in second with 25.66 percent, and Mba Obame third with 25.33 percent.
In stark contrast to Ivory Coast’s Gbagbo, however, Bongo has wide international recognition as oil-rich Gabon’s leader, including from former colonial power France which cemented ties with a defence deal last year.