(Business in Cameroon) - Alamine Ousmane Mey, Cameroon’s minister of finance has recently paid CFA15 billion to ENEO, the country’s public electricity concessionaire, out of the CFA100 billion Cameroon owes the electricity company. This was revealed by sources close to the case.

The electricity generation and distribution company has instantly dispatched the money to its service providers to whom it owes a large sum of money.

Those service providers are notably, TRADEX, the petroleum products’ distribution company, SONARA, the country’s refining company, (two firms which usually supply fuel to thermal power plants) and KPDC, owner of Kribi gas power plant whose production capacity was reduced by 100MW (from 216MW), since November 2017, due to ENEO, which is its major client, being highly indebted.

Let’s note that Cameroon’s debt toward ENEO comprises the bill for power consumed by the government and its institution as well as tariff-related losses accumulated for years now (since 2012, the tariffs are fixed, while under the concession agreement, they must be readjusted every year, depending on investments made by the concessionaire). 

BRM