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Yaoundé - 25 October 2020 -
Energy

Eneo announces “very encouraging” Q1-2020 operating results

Eneo announces “very encouraging” Q1-2020 operating results
  • Comments   -   Tuesday, 05 May 2020 10:50

"(Business in Cameroon) - Our operating results for the first quarter are very encouraging. Let's continue our efforts.” This is one of the main messages addressed to the electricity utility company Eneo’s staff by its Managing Director, Eric Masuy, during the Labour Day celebration on May 1, 2020.

 "In general, production performance is holding up well, with innovations and a promising dynamic. Eneo did well in ensuring the coverage of a demand that has evolved since the beginning of the Coronavirus epidemic in Cameroon," said the CEO of this company controlled by the British investment fund Actis.

"After its stabilization in the second quarter of 2019, distribution yield is now following a clear upward trend since January 2020, remaining slightly above the 70% mark, pending the results of April," he says by way of illustration.

In terms of quality of service, disruptions have persisted on the Eneo network. "There has been a lot of rationing," confesses the CEO of Eneo, who blames this situation on "the insufficiency of fuel in some thermal power stations, due to enormous cash constraints."

At the same time, he notes, the waiting time for clients who request connection to the network has been decreased by half compared with the level in 2019, he indicated. Although this performance is appreciable, he said, "an improvement is needed here, as well as in the number of new connections. Teams must focus on this objective."

BRM

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