Nationalisation of Energy of Cameroon: Government Gives Clarifications

“The Minister of Water Resources and Energy; Directors-General of the Electricity Sector; Dear Media Practitioners; Distinguished Guests; Ladies and Gentlemen; I will like to thank you for honouring my invitation by attending this joint press conference, which will focus primarily on the restructuring of the electricity sector in Cameroon. Actually, you will vividly recall that, in November last year, the State of Cameroon formally completed the nationalisation of Energy of Cameroon, known by the acronym ENEO, 51% of whose shares were previously owned by the British Investment Fund, ACTIS. This operation consequently made the State of Cameroon the principal shareholder of this strategic public entity, with 95% of its share capital now controlled by the State. As a matter of fact, today’s encounter comes in the aftermath of the establishment of the Cameroon Electricity Corporation (SOCADEL), by Decree of the Head of State, on 4 May 2026, which is henceforth entrusted with the responsibility to generate, transport, distribute, import and export electrical energy, thereby marking the State’s resumption of control over this highly strategic sector. It is with a view to shedding light on the rationale, implications and objectives of this major reform initiated by the President of the Republic, His Excellency Paul Biya, that I have invited the Minister of Water Resources and Energy, Mr Gaston Eloundou Essomba, to this press conference. I therefore extend a warm welcome to all of you to the Auditorium of the Ministry of Communication. Ladies and Gentlemen, With regard to the substance of today's discussion, it is perhaps useful to recall that the agreement for the acquisition of the ACTIS Investment Fund’s shares, which preceded the establishment of SOCADEL, formed part of a decisive process through which the State of Cameroon took over virtually the entire management of ENEO, a company operating at the heart of a sector that is vital to our economy. This important decision by the Government of the Republic was particularly intended, in practical terms, to place the electricity sector on a sounder footing and to strengthen the State’s energy sovereignty in this strategic domain. In this regard, the establishment of SOCADEL now enables the State to pursue another phase of the reform process initiated on 12 November 2025, with the ambition of strengthening governance within the sector, sustainably improving the performance of electricity distribution, and better meeting the expectations of the population as well as the needs of the national economy. Ladies and Gentlemen, Following the establishment of SOCADEL, the Minister of Water Resources and Energy, on 5 May 2026, installed the Chair of the Board of Directors, the General Manager and the Deputy General Manager of the new public enterprise. This took place at the end of the inaugural meeting of the Board of Directors of the new entity, which was held on the same day, thereby marking the effective commencement of its operations. It is therefore worth reiterating that SOCADEL, which emerged from the transformation of the former ENEO, is a Stateowned corporation, with the State of Cameroon as sole shareholder. Beyond the management of the public electricity service, the responsibilities assigned to SOCADEL upon its establishment include: • Managing infrastructure through the acquisition, operation and construction of electricity-sector infrast...