The Cameroonian government has moved to regain control of the country’s national power utility, acquiring 95% of the shares that were previously owned by the British company Artis.
The remaining 5% will be held by employees. The deal, valued at 78 billion CFA Francs ($130 million), marks a significant step towards nationalisation.
Geopolitical analyst Aaron Ng’ambi warned of the challenges ahead. “The real test will be whether the government can manage the utility effectively and make it profitable. State-run utilities rarely turn a profit, and if this venture fails, it could seriously affect public confidence in the administration,” he said.
The move comes after years of debate over the management of strategic national assets, with authorities arguing that taking ownership is key to securing the country’s energy future.
–ChannelAfrica–
