The electricity company Eneo Cameroon is now renamed Société Camerounaise d'Électricité (Socadel). The change follows a presidential decree signed on May 4, 2026, transforming the company into a public company. This decision follows the state's acquisition of the 51% stake held by the British fund Actis in Eneo, for an amount of FCFA 78 billion.
According to the presidential decree, Socadel has legal personality and financial autonomy. Its head office is located in Douala, but may be transferred elsewhere in the country by decision of the board of directors, after approval by the general meeting. The approved statutes set Socadel's share capital at FCFA 43.9 billion. The text also specifies that Socadel is not subject to the Public Procurement Code, while remaining subject to the rules applicable to public companies.
Socadel will mainly consist of staff from the former Eneo. The concession agreement established for the benefit of Eneo is transferred to Socadel, subject to the consideration of new or specific elements.
This transformation marks the end of more than two decades of coexistence between the State and private shareholders in Eneo's capital. The State is now taking full control of the former Eneo, structured as a public company. Another decree signed on May 4 appoints the members of Socadel's board of directors for a three-year term, renewable once.
The question of operational performance and investment financing remains. Before the takeover, Eneo was facing significant debt and structural tensions in the electricity chain. The general management is another point of attention, with the appointment of the general manager and his deputy by the board of directors on the proposal of the majority shareholder. The very first Board of Directors meeting would be held this Thursday and would appoint future leaders of the new entity.
In 2025, Cameroon commissioned the Nachtigal hydroelectric dam, increasing national capacity by approximately 30% and reducing power outages. The country aims to increase the share of renewable energy in its electricity mix to 25% by 2035.
