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Energy ALUCAM still owes close to XAF20 billion to ENEO despite the government’s assumption of a previous XAF34 bln debt (Business in Cameroon) - While ALUCAM’s overall debt to ENEO is currently over XAF50 billion, the April 16, 2021, agreement consecrating the government of Cameroon’s assumption of ALUCAM’s debt to ENEO concerns just the XAF34 billion the aluminum producer was owing as of December 31, 2019, ENEO informs. The reason is that since December 31, 2019, there was no electricity supply contract binding ENEO and ALUCAM because the last one concluded in 2009 ex...

Ecobank Cameroon provides digital electricity bill payment solutions for Eneo customers Tuesday, 27 April 2021 10:23 ( ECOBANK CAMEROON) - Ecobank Cameroon, a member of the leading pan-African banking group, the Ecobank Group, is enabling its digital platforms for payment of Eneo electricity Bills. Ecobank’s digital platform channels, Ecobank Mobile App, Omni Lite, Omni Plus and Xpress Points will provide convenience for Eneo customers enabling them to pay their electricity bills from the comfort of their homes or offices. Gwendoline Abunaw, Managing Director, Ecobank Cameroon, sai...

Globeleq to sell its about XAF83 bln receivables owed by ENEO (Business in Cameroon) - Through its local subsidiaries Kribi Power Development Corporation (KPDC) and Dibamba Power Development Corporation (DPDC), independent power producer Globeleq commissioned BGFIBank Cameroon to arrange the restructuring of the debt it is owed by electric utility ENEO. Estimated at XAF83 billion, this debt represents the unpaid energy bills accumulated by ENEO between 2015 and 2020. In 2020, ENEO promised to pay, within 48 months, its debt towards the power producer that supplies a significant portio...

(Business in Cameroon) - In a notice published yesterday, April 19, Victoria Oil & Gas (VOG), announces that a settlement agreement was reached with electric utility ENEO concerning its long-standing case with Gaz du Cameroun S.A. ("GDC").  " On 16 April 2021, GDC signed a settlement agreement with Eneo which will result in the payment of the gross amount to GDC, within 30 days of the signing, of approximately 2.74 billion FCFA (Central African CFA franc: circa US$5 million).  This settlement relates to the Take-or-Pay invoices for October, November, and December 2019 plus associated inter...

Cameroon assumes ALUCAM’s over XAF50 bln debt to ENEO (Business in Cameroon) - Last weekend, Minister of Finance Louis Paul Motazé signed a document establishing the assumption of aluminum producer ALUCAM’s debt, owed to electric utility ENEO, by the government of Cameroon, a source close to the case reveals.   In early 2020, ALUCAM and ENEO signed a contract computing the aluminum producer’s overall debt by December 31, 2019, to XAF40 billion. However, according to the source, the decision signed by Minister Motaze includes the XAF40 billion debt and also the unpaid bills ...