(Business in Cameroon) – In its 2023 activity report, energy company Eneo reported a total collection of CFA 427 billion by the end of December 2023. This marks a 100% achievement of its target, as stated in the document. Eneo explained that this performance was due to the collection of outstanding payments from previous years, which helped make up for the shortfall in collections for 2023 itself. However, in 2023, only 87% of the expected billed volumes were collected. Despite this, the management is pleased with the results, as they reflect the company’s efforts to improve its financial situation.
Breaking down the collections, Eneo collected CFA 256 billion from regional residential customers, over CFA 71 billion from large private accounts, and CFA 57 billion from the government. Additionally, the company collected CFA 5 billion from repayable works and CFA 14 billion from outstanding amounts from 2022. The remaining VAT collections amounted to CFA 9 billion.
Eneo also noted that these results were driven by performance factors such as enforced collections, which brought in CFA 31 billion, compared to the CFA 44 billion initially expected. Furthermore, the increased rollout of prepaid meters led to a 115% rise in consumption volumes.
