Cameroon has completed the purchase of the 51% stake in electricity distributor Eneo previously held by British investment fund Actis, in a transaction valued at CFA78 billion, according to Investir au Cameroun.
The payment was made on February 10, six days ahead of the contractual deadline of February 16, and was financed under the 2026 state budget, a source said.
The CFA78 billion transaction, carried out without a public announcement, concludes more than two years of negotiations between Yaoundé and Actis, which had entered Eneo’s capital in 2014.
An interministerial working committee has been set up to manage the transition, though the new management structure has not yet been disclosed.
Authorities have assured that jobs will be preserved and service continuity maintained.
“This operation does not entail any change to the status or rights of Eneo employees,” the ministers of Finance and of Water and Energy said in a joint statement at the time the agreement was signed.
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The formal agreement marking Actis’s exit was signed on November 19 at the Ministry of Finance, with Finance Minister Louis Paul Motazé, Water and Energy Minister Gaston Eloundou Essomba, and an Actis delegation in attendance.
Following the deal, the state now holds 95% of Eneo’s capital, with the remaining 5% reserved for employees.
This new shareholding structure effectively renationalizes the electricity distribution company and opens a new phase of governance, as seen on business in cameroon news agaency.
On January 22 in Douala, during a meeting with business leaders, Gaston Eloundou Essomba outlined what he described as the “first 100 days of action” following the takeover, describing Eneo’s crisis as primarily economic rather than technical.
The recovery plan rests on three pillars: renegotiating debt with local banks to extend maturities, gradually clearing arrears owed by public entities, and reducing operating costs.
The strategy aligns with the Energy Compact signed in August 2025, which aims for 3,000 megawatts of installed capacity by 2030 and seeks to expand electricity access to eight million additional people.
Speaking before more than 200 business representatives at the headquarters of Gecam in Bonanjo, industrial leaders emphasized the need for transparent dialogue and operational monitoring tools to track progress in generation and distribution, which they described as crucial for maintaining investor confidence.
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Image Credit: Eloquent Displays
