ENEO plans to generate 3700 billion investments over 10 years

The Director General of ENEO, Joël Nana Kontchou has called on stakeholders of the electricity company to take part in contributions to come up with a sum of FCFA 3.7 billion over 10 years, needed to strengthen the energy sector in Cameroon.

He made this statement in Douala, the economic capital at the opening ceremony of the 4th sitting of the University of Professional Associations of the country (GICAM). According to Kontchou, his company has been able to mobilize 477 billion FCFA out of the 2500 billion FCFA needed to invest in the production of an installation medium of at least 3,000 megawatts. He however added that, another 700 billion FCFA will be needed to convey energy.

"By 2025, we will consider a supply rate of about 75% with a reduction of over 85% of electricity supply interruptions”, said Joel Nana Kontchou who said the aim of the operator to double the number of subscribers in 10 years, is to surpass the 2 million customers in 2024.

The Eneo boss said he intends to reduce the power fluctuations by 70% over 5 years against the average annual duration of the non-supply of energy faced by consumers and to repair 400,000 wooden poles over the next five years. This, he said, will create 4000-5000 new low voltage distribution substations as part of the fight against brownouts and reduce technical losses.

The company has also drastically moderated the terms of connection and payment of its services in order to increase the regular payment of electricity bills, to reduce queues at commercial agencies and establish a remote meter reading system.

"By mobilizing all these strategies, we will offload the detestable to an electricity exporter station in Central Africa”.

Joël Nana Kontchou realized that the electrical system in Cameroon unfortunately works without sufficient power reserve.

The operator thus said it is crucial to maximize production by commissioning new works, rehabilitation of existing structures, the purchase of energy from independent producers and possibly renting equipment to deal with emergencies.

“Cameroon has a huge hydro, gas potential and exceptional human resources to which this market will be fluid and attractive once the reform is implemented sector”, said Joel Nana Kontchou.