Eneo to raise 16 billion to finance projects

ENEO soon intends to raise on the Cameroonian banking market, a sum of 16 billion Cfa Francs to finance its projects. Approval was given to Joël Nana Kontchou, Director General of the company, dealer in the electricity public Service in Cameroon during the last Board of Directors meeting held on December 02.

The projects in question have not been explained. But we know that taking the structure, the Sprott, British investment, Actis, majority shareholder of Eneo Cameroon announced a five-year plan to invest 170 billion Cfa Francs (2014-2018) intended to boost the performance of the company, referring to the rehabilitation of the Songloulou dam, the improvement of the commercial activity, production and Distribution of electricity.

Knowing that it will soon face the low flow period, characterized by lower water levels in the dams in the dry season, the Board of Directors of Eneo Cameroon according to a source cited by Invest in Cameroon proposed "temporary rental of production units in the gas on the Bassa and Logbaba sites as well as the mobilization of emergency thermal programme works, including the Central of Ahala, in the suburbs of the city of Yaoundé, with a capacity of 60 MW and managed by Aggreko.