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Yaoundé - 25 May 2018 -
Electricity

Cameroon: Société générale Cameroon to lend CFA108 billion to government for the construction of transmission lines in Douala

Cameroon: Société générale Cameroon to lend CFA108 billion to government for the construction of transmission lines in Douala
  • Comments   -   Monday, 12 February 2018 13:51

(Business in Cameroon) - On February 2, 2018, Paul Biya signed two decrees authorizing Louis Paul Motaze, the minister of economy, to sign two funding agreements worth CFA108.65 billion with Société Générale Cameroun (SGC).

The first decree is about €140.065 million (CFA91.88 billion) agreement to finance the consolidation and stabilization of electricity transport networks in Douala. The second decree allows the signing of €25.578 million (about CFA16.77 billion) loan agreement for the same purpose

These loan agreements show that the negotiations between government and Bouygues have progressed. Indeed, in December 2017, the ministry of energy and water announced that there were negotiations with the French company for the construction of the electricity distribution line Edea-Logbessou-Bekoko, passing through Douala and the reinforcement and stabilization of the electricity grid in Douala.

Bouygues will then have to build power lines to transport energy from the production centers to the largest consumption centers and relieve the overloaded transformers on the Edea-Logbessou-Bekoko line notably.  

S.A

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