Friday, February fourteenth, the UN says at least 22 people have been killed in a village in the Northwest region of Cameroon. Over half of those killed were children. No one has claimed responsibility for Friday’s incident but the opposition parties blame the killing on the government.
Eneo calls on staff to buy 5% of the company's shares
21 April 2016 was the closing day
to subscribe to the shareholding capital of GIC Eneo, an entity which will own
5% of the capital of Eneo Cameroon reserved for the employees, we learned in an
official communiqué.
The persons concerned by these subscriptions, the
communiqué highlighted, are the current employees of Eneo, public
concessionaire in charge of the electricity in the country, and the former
employees of the company put on retirement between 11 July 2001 and 21 April
2016.
To support the company in this
operation meant to meet a clause of the buyout, in 2014, of 56% of the shares
of this electric company by the British investment fund Actis, GIC Eneo
retained the services of the company Activa.
One can recall that the
retrocession of these shares belonging to the workforce was a major source of
contention between the management of this company and its employees, at a time
when the Cameroonian electric company was still owned by the American firm AES.
When the departure of AES was announced, the unions in the electricity sector
had even brought back the issue to the table, and invited the Cameroonian
authorities to give more attention to the retrocession of 5% of the capital of
the company to the workforce, before allowing the remainder to be dealt in the
transaction between AES and the British fund Actis.
As a reminder, at the time of the
privatisation of the electricity sector in Cameroon in 2001, the distribution
of the capital of what used to be AES Sonel (currently Eneo since its takeover
by Actis) was as follows: 44% for the State of Cameroon and 56% for the
American group AES, including 5% to be given back to the workforce, according
to the concession contract. But when officially leaving Cameroon in May 2014,
some 13 years after the privatisation of Sonel, (Société Nationale
d’Electricité), AES has still not returned the 5% in capital shares to the
employees, an operation which Actis has been trying to conclude since its entry
on the Cameroonian electricity market.
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