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Yaoundé - 21 June 2021 -
Energy

Cameroon presents its 2020-2030 electricity development strategy to Korean investors

Cameroon presents its 2020-2030 electricity development strategy to Korean investors
  • Comments   -   Thursday, 06 May 2021 13:46

(Business in Cameroon) - On May 5, 2021, the 10th edition of the Cameroon-South Korea Economic and Energy Forum was held in Yaoundé. According to Jongham Kim, South Korea’s ambassador to Cameroon, despite the restrictive measures (travel bans notably) prompted by the coronavirus pandemic, two South Korean energy giants were present. They are notably Korea Midland Power, the state-owned company in charge of the implementation of the South Korean government’s electricity development strategy, and construction company Daewoo E&C.

Besides those giants, the Korea Trade Promotion Corporation (KOTRA) was also represented, we learn. During the forum, Cameroon’s Minister of Economy Alamine Ousmane Mey explained the importance of the electricity sector in his country’s 2020-2030 national development strategy.

"The government intends to develop the country's significant hydroelectric potential, which is the second largest in Sub-Saharan Africa. It also intends to develop alternative energies - solar energy particularly, optimize and enhance the use of biomass as well as modernize its electricity transmission and distribution network. The government’s aim for the investments is to first increase the energy offer from 1,650 MW in 2019 to 5,000 MW in 2030. The government knows that it can count on the technical and financial support of its Korean partners to fulfill its ambition to promote inclusive and sustainable development," Alamine Ousmane Mey said.

Although it is a partner in the elaboration of Cameroon’s national renewable energies’ development strategy, South Korea is still a minor operator in Cameroon’s electricity sector.

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