Home / Business / Power Company Eneo demands payment of more than XAF100bln from debtors including the State and Alucam

Power Company Eneo demands payment of more than XAF100bln from debtors including the State and Alucam

Business in Cameroon | Cameroon’s power utility Eneo is demanding the payment of more than XAF100 billion from its debtors including State-owned Alucam and the State itself, which alone account for about 70% of the sum, we learnt.

Our cash flow has gradually weakened in recent months, mainly due to pressure by the government and some public entities’ receivables. When these receivables are isolated in our portfolio, the recovery rate is within the margins provided for in our plan,”Joël Nana Kontchou (photo), Eneo’s MD, said to highlight the public administration’s share in debt.

Indeed, arrears in the payment of electricity bills by government have increased particularly in recent months due to the financial difficulties facing Cameroon Aluminum Corporation (Alucam).

The latter, which consumes about 40% of the national power production, lost its strategic partner Rio Tinto in 2014 and since then, government actions to find another investor to acquire Tinto’s assets have not yet been successful.

Check Also

2019 Women’s World Cup: Cameroon finalise squad for France

BBC | Cameroon coach Alain Djeumfa has named his women’s World Cup squad with experienced …

4 comments

  1. Fictitious billing practices as a result of monopoly always lead to loss of customer trust and a search for alternatives.
    Candles and bush lamps have served the people well.

  2. Bienvenu dans le royaume des incompétents, feymen, jouisseurs, dormeurs, nullards.

    • Is cameroon power produced by terrorists? What do terrorists have to do with our country dear engineer in idiocies Your answer is as good as mine.

  3. Everything, is out of control in that Bulu run damned country. It can not pay
    bills, but it boasts, to feed refugees, rebuild burnt down houses by it`s dumb
    military, rehabilitate Ambas who drop their weapons etc etc. Folks have adviced
    the old owner of the vineyard, to stop listening to those angels of hims, who are
    misinforming him and like the stubborn fly, he will not listen.
    But sanctions, are also up on the table and soon to come.

Donec sem, mi, Nullam dapibus commodo libero tempus facilisis risus