Eneo Cameroon assures that the frequency of power cuts has been reduced by 16%. According to the newspaper Eco Matin, the envelope of 100 billion CFA francs raised in January 2021 from eight banks was used to finance its production and distribution activities. In the same vein, officials claim to have improved the quality of service by 18% compared to 2020. They also replaced 84,000 wooden electricity poles as of September 30, 2021.
The company's objective is to reach the milestone of 90,000 poles mixing new wood,concrete and metal fixed throughout the national territory. "This program will continue in 2022. The pace of production of concrete poles in local industries whose creation Eneo has stimulated is expected to increase. And this despite a sharp increase in the prices of inputs (iron and cement)," explains Eneo.
As a reminder, Eneo provides 70% of the production of electrical energy in Cameroon. Its investment plan of 100 billion FCFA has enabled this company to build 250 km of new lines. It also made it possible to rehabilitate 52 km of underground lines. Since 2014, 700,000 lines have been created, bringing the rate of access to electricity in Cameroon to 63% (49% in 2013).
The State of Cameroon created the company on May 18, 1974 under the name of Société Nationale d'Electricité du Cameroun (SONEL). It will be privatized in 2001 for the benefit of AES Sirocco Limited, a subsidiary of the American company AES Corporation which holds 51% of the capital, the Cameroonian State retains 44% and the staff 5%. It takes the name AES Sonel1.
In May 2014, the British investment fund Actis took control of 56% of the capital, the State holds 44%. It changed its name to Enéo Cameroon SA on 12 September 20142. In 2017, Actis revised its stake to 51%, employee shareholders hold 5% of the capital.
Its main activities are the production, distribution and marketing of electrical energy in Cameroon. It is bound by a concession contract with the State of Cameroon.