ENEO earned FCFA 279 billion in 2014

The electricity company of Cameroon has had an increase of FCFA 279 billion in 2014 against FCFA 244 billion recorded in 2013, according to a financial report.

With a turnover increase of 14.22% and a gross margin of around 12.5%, this increase is the result of growth (7.5%) of the domestic demand but also compensation tariff of FCFA 17.5 billion granted by the government in return for locking in customers.

As a result, the company blamed commercial and distribution losses due to the non-billing or invoicing errors (34.37%), fraudulent connections (15%) and fraud by count (12.50%).

Eneo also affirmed that the rate of electrification in Cameroon is less than 50% across the country. This deficiency is doing more garish in rural areas and 90% of the population still uses traditional solid fuels (wood and charcoal).