logoBC
Yaoundé - 03 July 2020 -
Electricity

Cameroon: NHPC paid XAF2bln in compensation to 772 persons, on Nachtigal Dam construction

Cameroon: NHPC paid XAF2bln in compensation to 772 persons, on Nachtigal Dam construction
  • Comments   -   Friday, 21 December 2018 16:30

(Business in Cameroon) - Nachtigal Hydro Power Company (NHPC), the company in charge of the development and operation of the Nachtigal hydro plant project, announced it has disbursed XAF2 billion to compensate 772 people affected by the project.

This operation, says NHPC, is part of “a process rigorously examined, in consultation and transparency, to establish a fair and equitable compensation”. First, affected assets and people were identified between August 2015 and April 2016, then inventories were validated in a contradictory manner with each affected person.

The company said the level of compensation was defined on the basis of a 2003 decree that enables to include international best practices and the reality of local market prices, after which compensation decrees establishing the list of beneficiaries were issued in February 2018. Beneficiaries were made aware of the proper management of compensation before payments were made.

Nachtigal Hydro Power Company is 40% owned by EDF, 20% by the International Finance Corporation (IFC), 15% by the State of Cameroon, 15% by Africa50 and 10% by STOA Infra & Energy. Under this shareholding, NHPC will operate the facility for 35 years. The dam, whose commissioning is scheduled for 2023, is expected to produce more than 2,900 GWh/year.

S.A

cameroon-validates-a-territorial-communities-development-program-based-on-the-employment-intensive-investment-approach
Cameroon recently validated an integrated national program aimed at developing decentralized territorial communities using the Employment Intensive...
cameroon-the-general-tax-directorate-reminds-taxpayers-of-the-special-mitigation-provisions-in-the-2020-finance-law
The General Tax Directorate (DGI), in a recent note, reminded Cameroonian taxpayers of a tax moderation procedure that will help them clear their tax...
cameroon-prepares-to-officially-resume-flights-after-keeping-borders-closed-over-the-past-three-months
In Cameroon, the government is finalizing a protocol to manage international flights, as the country prepares to resume air transport. This was disclosed...
chinese-firm-cwe-given-60-day-ultimatum-to-deliver-nkolessong-nding-road-in-cameroon-s-central-region
Sixty days. That is how many days Cameroon’s minister of public works (Mintp), Emmanuel Nganou Djoumessi, gave the Chinese firm China International Water...

Mags frontpage


Business in Cameroon n88: June 2020

Covid 19 Its impacts so far


Emmanuel de Tailly (SABC) : «Preserving jobs at all costs»


Investir au Cameroun n98 Juin 2020

Covid 19 Et maintenant, l’étendue des dégâts


Emmanuel de Tailly (SABC) : «Maintenir l’emploi coûte que coûte »