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Cameroon’s energy sector is now dominated by British investments, both in terms of prospects and actual production. On March 6, 2015, it was revealed that Eranove, formerly Finagestion, plans to build a 315 MW thermal plant in Limbé in the South-West. Eranove is 57%-owned by the investment fund Emerging Capital Partners (ECP). In this international investment fund, which manages 1.8 billion FCFA in assets in Africa, the British government’s pro-development institute, the Commonweath Development Corporation (CDC), has a few assets.
On February 3, 2015, the CDC announced its plan to strengthen its position with the Norwegian fund via a strategic alliance that will enable it to acquire Globeleq Africa, the British investment fund’s (Actis) main establishment in the independent production of electricity in Africa. This alliance should enable Globeleq Africa to boost its investments in the electricity sector in Africa, including Cameroon where it is already present with a majority participation in the capital of companies that manage Kribi’s gas plant and Dibamba’s fuel oil plant.
But the most remarkable presence in Cameroon’s energy sector is without a doubt Actis, which acquired 47% of shares previously held by the American group AES Corporation, in Cameroon’s electricity (Eneo).
There’s dynamism, but it still isn’t enough
More discreetly, there are companies such as Victoria Oil and Gas (VOG), which has set-up the first natural gas treatment plant in Sub-Saharan Africa. VOG is also the majority shareholder in Gaz de Cameroon (GDC), which is today’s pioneer in the distribution of industrial gas to established companies in Douala.
Another discreet company is Scotland-based Bowleven, which has a majority stake in the oil and gas exploration company, Euroil. The latter organisation is pursuing the development of an oil project as well as another for gas off the coast of Cameroon on the Etinde. Among the British companies in Cameroon’s energy sector is Joule Africa, which is currently working on a major hydroelectric dam construction project on the Katsina River in the North-west.
For this project, feasibility studies are on-going. However, on June 2, 2014, the company signed an agreement with Cameroon’s Energy Minister to build a 200 MW photovoltaic electrical plant. Based on all that has occurred so far, the engagement of British companies in Cameroon’s energy sector is a tangible reality. Yet, all of this is yet to become an economic opportunity for the nation as this energy source remains inaccessible and too expensive for many Cameroonian households and businesses. (Business in Cameroon)
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The Industrial and Commercial Workers Union of Ghana (ICU) has said that more 3,000 jobs would be lost by the end of 2015 due to the poor energy situation in the country. Ghana has been in energy crisis for the past two years but the current situation beginning this year is serious. Households and industries are deprived of electricity for more than 24 hours. The worsening power crisis is having a serious effect on businesses. Many of these businesses have to rely on generator to power their businesses which consequently increases operational cost, making job owners retrenching workers to avoid running at lost. Secretary General of the ICU, Solomon Kotei told reporters in a press briefing that between January and March this year, the union can report that over 500 jobs have been lost due to the deepening energy crisis.
He said the rate of redundancies in the various sectors of the economy is alarming and immediate steps must be taken to resolve the socio-economic challenges to save jobs. “If the trend is anything to go by, we are looking at about 2,000 to over 3,000 job losses within this year from our sector alone but we don’t know about others,” he said. The ICU therefore urged the Ghanaian government to reduce the cost of petroleum prices to help local businesses to get the means to buy fuel to power their generators to support their businesses. Fuel prices have not been reduced in Ghana despite the drastic fall of crude price on the world market. Political commentators have criticized the Ghanaian government for failing to reduce fuel price to help cover for the poor energy situation. The Right-Wing opposition party, the New Patriotic Party and other independent groups have held protest against the government for failing to find lasting solution to the energy crisis.
The Ghanaian government has been struggling to meet the energy needs in the country despite various interventions including importing gas from Nigeria to power its thermal plants to augment the hydro energy from the Akosombo Dam. Majority of Ghana’s energy comes from hydro. But the Akosombo hydro dam which was built by Ghana’s first President, Kwame Nkrumah in 1964 has not been managed properly by successive Ghanaian governments, culminating in the current energy crisis in the country. In January this year, the Ghanaian government reached an agreement with the United States energy giants, General Electricals worth $1 billion for the supply of energy to the country. But that agreement is not meant to solve the short term energy crisis the country is experiencing. Energy experts have criticized the government for failing to deal with the energy situation and many political commentators say the energy crisis would be a crucial determinant if Ghanaians will or not retain the government in next year’s general elections. Ghana will vote in December 2016 to choose a new executive President and parliament.
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The Ghanaian government has issued a strong statement directing oil companies in the country not to sack workers over fallen price of crude on the world market. Earlier this month, oil companies in Ghana started laying off their workers to prevent loses due to fall in the price of crude. More than 100 workers have already been laid off. The oil companies have hinted that more workers will soon go. However, Ghana’s Petroleum Ministry observed that although the oil companies reserved the right to downsize their staff, Ghanaians working in departments such as Operations, Technical Services and Planning, Project and Engineering, Well engineering and Subsurface and Exploration should not be laid off.
The ministry further said the order has become necessary because Ghana is still young in the oil business and therefore needs to learn essential skill needed for the exploration activities. ``The Ministry directs that the oil companies offer Ghana a competitive severance package and roll out placement support programs to ensure proper transition. This will ensure that the continuous effort to build and augment oil and gas technical skills and competency among Ghanaian professionals as prescribed by the local content policy and law is sustained’’, the Ministry said in a statement. There has not been any response from the oil companies. But some independent observers told Cameroon Concord that the oil companies are likely to defy the government’s order which might end up in court.
Crude oil on the world market has fallen to a record low of around $47 dollars and this is expected to affect the economies of the oil exporting countries especially those in the developing world. Ghana’s President, John Dramani Mahama said in January that the country will lose some $700 million oil revenue this year as a result of the falling price of crude on the world market. Ghana makes an average of $1.2 billion annually from crude oil production but the fallen price of the commodity has brought the expected revenue down to $500 million.
Ghana discovered its offshore oil and gas fields in 2007. By 2010, it had started pumping the first oil. Since then, oil has been produced in commercial quantities, and over the next 20 years, it could earn up to US$20 billion in export revenue for the country. It is expected that this will present an opportunity for the growth of the country’s economy but the picture has began to look different from what is expected. Quite a number of companies are scrambling to trade with Ghana in the oil sector. It is very difficult to verify their numbers due to restrictions on certain government documents, allowing them to continue to operate in the dark with the help of corrupt politicians.
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The Fako community and the entire Cameroon will in the coming weeks benefit from a drive of cutting-edge technology. In collaboration with Fako Cultural Development Association (FACUDA), the CEO of African Green Industries and Technologies (AGI), Engineer Emmanuel Efome based in Germany will lead a team, transferring solar technological knowledge from Germany to Cameroon.
Being the first of its kind in the Fako region, the project will not only transform and revitalize but will as well supplement sustainable energy to the undersupplied energy sector of Cameroon, and hence increase the wattage. Consequently the problems of deficiency and scarcity of desirable electrical energy will be drastically curbed in the anticipated future, once the implementation phase commences.
Between the 7th and 30th April 2015, as partner in cooperation, the Opportunities Industrialization Center (OIC) Buea - Cameroon will host the special training of local electricians. In an exchange with Cameroon Concord, the CEO of AGI, Mr Emmanuel Efome reiterates that through this training, experienced local electricians with little or no experience in Photovoltaics will be imparted with an in-depth insight into the basics and the process of planning, designing, installing and operating and maintaining photovoltaic systems.
The German trained Engineer in addition specified, that out of the basic general knowledge of electrical business operations, electricians and technicians in Cameroon deserve to acquire, advance and explore the skills of doing business with the Sun – The Green Economy; which involves harnessing potentials of the market segment, financing, customer service and future prospects. These and other aptitudes will be enlightening highlights in the four weeks training project, says Mr. Emmanuel Efome.
Cameroon Concord understands that this project is being subsidize by Engagement Global and the German Federal State of North Rhine Westphalia, meanwhile it will be realized in cooperation with other institutions like Haute energy Systems and Solar Energie Projekt
This development has been applauded by Cameroonian opinion leaders and leading organizations in Germany. It is a long awaited advancement says Sylverster Njungong, an Engineer working with LedTech GmbH Germany. We all need to support the AGI initiative, and it is hoped this project achieves the anticipated goal emphasized Mr. Njungong
In his quest to empower his people by taking these skills back home and just like the biblical Jesus Christ, Engineer Emmanuel Efome wants his people to know how to fish, rather than fish them.
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Cameroonian Employment Minister, Zacharie Pérevet, just released a list of 175 temporary employment companies and private job-placement officers operating in total illegality. According to the cabinet member, these companies either no longer have valid authorisation or are simply operating clandestinely.
Minister Pérévet has urged, “The heads of companies that use temporary labour to cease all professional relations with the organisations implicated in this issue.” He is also threatening to impose fines on the employment agencies in question if the latter fail to comply with regulations in effect.
Illegality is visibly pervasive among employment companies in Cameroon. Indeed, in September 2014, the Minister of Employment had already identified 150 temporary employment companies and private job-placement offices that were skipping around the regulations. The brandishing of threats of fines seems to have had little effect.
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The Ghanaian government has said that it would drastically reduce public spending next year to restore local and international confidence the country’s economy. Ghana will vote in December 2016 to choose new Members of Parliament and an executive President. Ghana’s President, John Mahama said his government will not be coerced by workers for salaries and wages increase because it is an election year. “Often, what happens is that in election year, trade unions and everybody sees that government is in a vulnerable place and so that is where demonstrations and agitations for increased pay begin to happen. Because of the sensitivity of the period and the fear of losing election, government normally will give in to some of these pressures and before you see the budget is over bloated and then when elections are over, the government is installed to start the belt tightening all over again”, he said.
They were many agitations by the labour front in Ghana over increase in salaries and wages last year. This resulted in many strikes and protests against the government. But President Mahama said these agitations against his government last year have toughened his government to contain such pressures. ``It is said that when you kill a goat and you frighten it with knife it doesn’t fear the knife because it is dead already. I have the dead goat syndrome going forward. So we are going to ensure that we have fiscal discipline”, Mr Mahama said.
The Ghanaian leader was addressing the Ghanaian community in Botswana in his three-day State Visit to the Southern Africa country. He assured that the government will maintain fiscal discipline to prevent the country seeking a bailout from the International Monetary Fund (IMF) in future. The IMF agreed a $1 billion economic bailout program with Ghana last month. Ghana is hoping to restore its ailing economy within the next three years on the advice of the IMF. Civil Society Organizations have said that the country’s economy might collapse if emergency measures are not taken by the government to seek external intervention. Critics of the government have said that the current woes of the Ghanaian economy were as a result of the overspending done by the government in the 2012 general elections.
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