Cameroon Takes Back Control of ENEO in Major Shift for the Electricity Sector

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CameroonOnline.ORG | Cameroon has initiated a significant restructuring of its electricity industry by acquiring 95 percent of the shares of ENEO, the national power utility. The remaining 5 percent will be held by employees. The transaction, valued at 78 billion CFA Francs, ends years of private majority ownership by the British firm Artis and marks a decisive move toward the nationalization of a key strategic asset.

Following the signing ceremony, Minister Gaston Eloundou Essomba described the takeover as an essential step to restore stability within the sector. According to the government, the electricity system has been weakened by a deep financial imbalance, reflected in delayed payments to producers such as Nachtigal, Kribi, and Memve’ele, ongoing tensions with SONATREL, and persistent operational challenges.

Authorities have outlined a priority plan to address these issues. Refinancing ENEO’s debt aims to strengthen cash flow and improve the regularity of payments across the supply chain. The government also intends to enforce stricter payment discipline among all consumers, including public entities. Expanding the industrial customer base is another objective, supported by the development of a second energy corridor to Douala, which is expected to generate an additional 150 MW of demand by 2026, representing an estimated 50 billion CFA Francs in extra annual revenue.

The fight against electricity fraud has been identified as a major focus. Current losses are estimated at 15 percent of the system, or about 60 billion CFA Francs per year. Planned measures include the wider installation of meters, the standardisation of connections, and increased field inspections.

Officials describe the takeover as a strategic decision intended to reinforce energy security, modernize infrastructure, and improve service quality. The move signals a new phase in the country’s approach to managing its power sector and preparing for long-term development.