Actis Energy Cameroon Holdings (Eneo)

West Africa,Africa Infrastructure

Actis is a leading investor in growth markets across Africa, Asia and Latin America. Its three separate investment groups focus on energy and infrastructure; real estate; and general sectors, including consumer, education, financial services, healthcare, industrial, manufacturing, and retail.

Actis was formed in 2004 following a restructuring of CDC designed to bring more equity capital into developing countries and the two organisations have a shared history.

Eneo is the company holding the concession in Cameroon’s public electricity sector. It owns and operates over 900 megawatts (MW) of generation capacity and distributes electricity to more than 1 million residential, corporate and industrial customers.

Based in Cameroon’s economic capital, Douala, the company employs over 3,700 people across the country.

Our investment

In 2014, CDC committed to investing up to $10.1 million in Eneo.

Our investment supports the expansion of the country’s power supply and increases its efficiency.

Expected impact

With a GDP per capita of $2,300, Cameroon ranks 186 out of 229 countries in the world and around 40 per cent of the population is below the poverty line. It has a total electrification rate of around 50 per cent, but this falls to less than 10 per cent in rural areas.

Reliable energy helps businesses to develop and grow, creates new and better jobs and improves the lives of millions of people. However, more than half of firms in Cameroon identify the lack of a reliable source of electricity as a major constraint to their business.

Our investment helps Eneo to improve its safety and operational efficiency, including upgrading its network.
It also helps to expand electrification rates across the country to support Cameroon’s future economic growth and drive job creation.

Actis and CDC also provide strategic and technical support to the business as it plans to add over 60,000 new customer connections each year.

Environmental and social aspects

We are also helping Eneo to develop its Environmental and Social Management System and supporting the company's work with the government and wider stakeholders in the safe management of PCB materials in Cameroon.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, West Africa
Countries:
Cameroon
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Infrastructure
Website:
https://www.act.is/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
June 2014
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$10.1m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius