Eneo to improve facilities at 10bn FCFA

Cameroonian electricity production and distribution company Eneo plans to invest 10 billion FCFA out of their 37.7 billion FCFA funds for modernising its network in 2015, to improve production facilities.

Eneo Finance Director Wilfred Ntuba, emphasised that the application of these investments will be closely tied to the civic commitment of the electricity company’s customers via their bill payment.

“Our goal is to invest the amount of 37.7 billion FCFA, 16.2 billion of which was acquired through loans from banks and 21.5 billion derived from our own revenues to improve our facilities. We believe that we can get there, since we invested 16 billion FCFA from our revenues in 2014,” Wilfried Ntuba averred.

Indeed, the company has traditionally struggled to get many of its customers to pay their bills due to their lack of civic duty. In July 2014, for example, Eneo had launched its forced bill payment campaign in the hope of recovering a part of the 34 billion FCFA owed by delinquent customers.

For the first quarter of 2014, unpaid bills totalled 14 billion FCFA, according to the company.