British electricity company, ACTIS Energy will henceforth be in charge of generating, transforming and distributing hydro electrical power in Cameroon following its signing of two conventions with the government of Cameroon and the American Electricity Supply Corporation, AES on Friday May 23.

The conventions which marked the complete handover of all AES’s shares to ACTIS Energy were signed by the representative of the two corporations-David Grylls for Actis and the managing director of AES/SONEL and two representative of the government, Minister of Energy and Water Resources, Basil Atangana Kouna and the Minister of Finance, Alamine Ousmane Mey.

Before proceeding with the signing of the conventions, the Minister of Energy revealed that, when AES expressed its intention to sell its shares to ACTIS, the government constituted an inter-ministerial committee made up of experts from the energy ministry, the Ministry of Mines, Industries and Technological Development and the Ministry of Finance.

He said the team traveled to Uganda to examine the performance of the British multinational company in the energy sector of that country. They were satisfied and glad to know that the company had not been chased out of the country as some local newspapers in Cameroon had reported.

“The president ordered us through the prime minister to proceed with the signing of these conventions in cognizance of the fact that the energy sector is the backbone of the country’s economy,” he said. To ACTIS, he said that the government and Cameroonians in general will be watching them closely to ensure that the company keeps its promises and respects the agreements contained in the conventions.

David Grylls for his part noted that Actis Energy knows the importance of SONEL to the economy of Cameroon and will treat it with utmost seriousness. He promised that the workers of SONEL, the KPDC (Kribi power plant) and DPDC (the Dibamba power plant) will not be laid off. He also promised to transform the activities of SONEL as soon as they begin operations.

“We will lay emphasis on continuity of operations, the rehabilitation of networks, customer care, security, environmental protection and local governance” he promised, and added that with the support of their Africa partner, Globeleq, they envisage the extension of the Kribi power plant. The ACTIS representative also declared that the controversial 5% shares of the company that was expected to be given to its employees will be handed to them.

With the signing of the conventions, ACTIS now owns 56% of shares in SONEL, KPDC and DPDC. The company is currently operating in Ivory Coast, South Africa, Kenya, Tanzania and Uganda.