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Monday, 20 December 2021 Repost
Electricity: Cameroon commits to paying XAF182 bln debt to ENEO within two months
(Business in Cameroon) - Cameroon has initiated the payment of XAF182 billion owed to electric utility ENEO, Business in Cameroon learned from several official sources. According to the sources, the envelope will be paid within two months (December 2021-January 2022). Ultimately, several stakeholders of the electricity sector will benefit from those payments.
For the government, with the upcoming AFCON2021 to be hosted in the country in January-February 2022, it has become crucial to address the financial problems facing the electricity sector. Hence the huge effort made by the government at a time when the public treasury is much stressed.
The XAF70 billion was planned to be raised through two bill issuances (13 and 26-weeks to raise XAF50 billion) and 2-year bond issuance to raise XAF20 billion. The operations were effectively organized on December 15 but the bank of Central African States (BEAC) is yet to publish the result of those operations.
Another bond issuance operation is planned for January 2022 to raise XAF48 billion to pay part of the debt to ENEO. Also, a debt offsetting mechanism is in place between the state (the national hydrocarbon coportaion), Eneo, and KPDC (Kribi Power Development Company) over a XAF25 billion debt.
In the coming days, the government will pay XAF39 billion representing the debt it was owing ENEO as of late 2020, according to authorized sources. To raise that fund, the government proceeded to debt securitization. The securities were then transferred to ENEO, which sold them at a discount (ENEO will receive XAF39 billion for a little over XAF40 billion debt) to a pool of banks constituted of Afriland First Bank, Société générale, SCB Cameroun, Commercial Bank of Cameroon, Ecobank Cameroun and Union Bank of Cameroon.
Ripple effects
more....... https://www.businessincameroon.com/energy/2012-12170-electricity-cameroon-commits-to-paying-xaf182-bln-debt-to-eneo-within-two-months
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Bassa industrial zone: Government to build an electrical substation to anticipate growth in energy demand
Minister of Water and Energy Gaston Eloundou Essomba recently issued a call for expression of interest for the recruitment of a consultant who will carry out preliminary and detailed project studies and help plan tender calls for the construction of a 225/5 kV electrical substation in Bassa industrial zone, Douala. The planned electrical substation is aimed at anticipating future energy needs in the said zone.
Candidates interested in the consulting offer are expected to submit their applications by February 17, 2022.
https://www.businessincameroon.com/energy/0701-12192-bassa-industrial-zone-government-to-build-an-electrical-substation-to-anticipate-growth-in-energy-demand