For Eneo, faced with cash flow tensions, it will not be easy, but the energy company must mobilize 521 billion FCFA for its investments over the next decade, in Cameroon.
During the period 2020-2031, Eneo, the concessionaire of the public electricity service in Cameroon, announces investment needs amounting to 795 million euros, or 521 billion FCFA, learns about Investing in Cameroon in official company documents.
But, according to this company controlled by the British investment fund Actis, the mobilization of this envelope is far from certain. ” Only the sustainable consolidation of the finances of the energy sector will allow the return of investor confidence and the raising of the funds necessary for these investments “, indicates Eneo in its newsletter for August 2020.
Indeed, for several years, Eneo has been facing recurring cash flow tensions, following the non-payment of invoices by certain large consumers, in particular the State and its divisions. From good sources, these unpaid debts were estimated at more than 100 billion FCFA a few months ago.
But, in June 2020, in addition to having become a good payer over the first five months of the year, we learn, the State of Cameroon made a first advance of 45 billion FCFA on its unpaid bills. This allows Eneo to view the immediate future with much more serenity. A second installment of up to 32 billion FCFA is also about to be regularized.
From this point of view, the company is also preparing to raise an envelope of 100 billion FCFA on the local banking market, to repay the “ balance of a medium-term loan” and to finance the company’s investments in the region. during the years 2020 and 2021.
In 2020, the envelope devoted to investments by Eneo was 67 billion FCFA. It was reduced to 45.7 billion FCFA, due to the effects of the coronavirus pandemic. An amount of 6.4 billion less than that which will have to be devoted on average to investment annually over the next 10 years to meet the needs.
Source: Agence Ecofin