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Cameroon: Globeleq to increase employee wages by 3%

Cameroon: Globeleq to increase employee wages by 3%
  • Comments   -   Thursday, 21 February 2019 16:25

(Business in Cameroon) - Independent power producer, Globeleq, which manages the Dibamba fuel and Kribi gas power plants in Cameroon, has just signed a collective agreement with its employees, under the supervision of the Cameroonian Ministry of Labour and Social Security, official sources reported.

This agreement introduces benefits in terms of housing and transportation allowances, and provides for an increase by 3% of employee salaries. According to Globeleq officials, this collective agreement aims to share the added value generated in Cameroon. The company said it produces a quarter of Cameroon’s electricity production.

Formerly controlled by the British investment fund, Actis, which holds a majority stake in the capital of Cameroon's power utility (Eneo), Globeleq Africa has been since 2015 controlled by a consortium held by the Norwegian investment fund, Norfund, and the British financing institution, CDC Group.

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