Cameroon will spend 78 billion CFA francs to finalize the acquisition of 95% of the capital of the national electricity company, Eneo. This strategic operation marks a major turning point in the country’s energy sector, allowing the State to regain control of the main electricity operator, which until now has been majority-owned by the British investment fund Actis.

A Strategic Decision for Energy Sovereignty

On November 19, 2025, the signing of the acquisition agreement between the Cameroonian government and the Actis fund sealed the State’s takeover of Eneo. This initiative is part of President Paul Biya’s energy policy aimed at strengthening Cameroon’s economic sovereignty. By acquiring 95% of Eneo’s shares, the State intends to undertake urgent reforms to stabilize and modernize the national electricity sector, while improving service quality for households and businesses.

Context and challenges of the acquisition

Actis acquired Eneo in 2014 during the sector’s privatization, with a substantial investment of approximately 400 billion FCFA in infrastructure modernization. However, structural reliability and performance issues remain a major challenge. The acquisition, overseen by an inter-ministerial committee since 2023, aims to address these deficiencies through strengthened public management.

Towards a more reliable electricity sector with control over investments

With this operation, Cameroon aims not only for the gradual nationalization of Eneo, but also for improved governance of strategic companies. The Minister of Finance emphasized that this acquisition will ensure consistent management and control of the investments needed to modernize the electricity grid, which is often criticized for its outages and unreliability.

Conclusion

The Cameroonian government’s acquisition of Eneo’s shares for 78 billion FCFA is a significant act of energy sovereignty. It opens a new era for the country’s electricity sector, with clear objectives: to guarantee more reliable access to electricity and to support national economic development. This decision, which has been widely welcomed at both the political and economic levels, marks a crucial step in Cameroon’s energy independence and modernization strategy.