Cameroon: Eneo sale blocked, Actis refers matter to Paris Chamber of Commerce and Industry

The acquisition of Actis’ 51% stake in Eneo, Cameroon’s main electricity operator, is becoming more complicated. Faced with the Cameroonian regulator’s refusal to validate FCFA 60 billion in investments claimed by Eneo, the British fund has taken the matter to the International Chamber of Commerce in Paris.

This aims to revalue these investments, a key point in the negotiations. Actis is asking for between FCFA 100 and 125 billion to sell its shares, but the Cameroonian government does not want to exceed FCFA 80 billion.

At the same time, the government has launched an audit of Eneo’s assets to better assess its value. Despite investments of 400 billion over ten years and an increase in the electrification rate from 56% to 75%, the company remains weakened by a debt of more than 500 billion FCFA.

source: Eco Matin