The concessionaire of the public electricity service in Cameroon, controlled by the British investment fund Actis, wants to raise 100 billion FCFA to settle a previous loan and finance its investments in 2020 and 2021.
Eneo is preparing to approach the local banking market for a loan of up to 100 billion FCFA, reveals the company in its latest newsletter. Despite the discharge obtained since January 2020 from the Board of Directors of this company, the operation has not been able to take place so far because of certain contingencies.
“(…) The financial market needed to be reassured about Eneo’s ability to meet the deadlines of this loan, and about regular payments from the State of Cameroon”, explains the Director General (DG) D ‘Eneo, Éric Mansuy, in a recent interview with Business in Cameroon . And the latter to continue : “thanks to the collection of 45 billion FCFA ( in June, Editor’s note ) and the regular payment of government bills over the first five months of the year, negotiations on the loan of 100 billion FCFA have truly been revived ”.
The financing sought by this producer and distributor of electric energy in Cameroon, we officially learn, will primarily be used to repay ” the balance of a medium-term loan” contracted by Eneo, and to finance the company’s investments in during the years 2020 and 2021.
As a reminder, this company has an investment plan of 45.7 billion FCFA for the year 2020. This envelope, initially set at 67 billion FCFA, had to be reduced by more than 21 billion FCFA. FCFA, due to the effects of the coronavirus pandemic.
Source: Agence Ecofin