Eneo belongs to us: Actis transfers 5% of capital to personnel
The transfer of 5% of Eneo share capital to employees through GIC-P Eneo became effective on 9 June 2017.
Our Coach disclosed this information via a message sent to employees on 28 June 2017.
« Dear teammates, shareholders of Eneo, I have the pleasure to inform you of the transfer of 5% of the share capital of our company to employees through GIC-P Eneo. Congratulations! Since 9 June 2017 you became shareholders of your company and for those who have not still subscribed to the GIC, you can become a shareholder now but on new terms and conditions. This transfer is the fulfilment of a promise made since 2001 and we thus respected the commitment that Actis had taken, when it took over the company in 2014.
More than ever before, Eneo belongs to us. It is our responsibility to take care of Eneo; it is also our responsibility to ensure that our customers are well attended to; it is equally our responsibility to ensure that electricity is reliable and of good quality; it is our responsibility to ensure correct billing ; it is our responsibility to ensure that passed for payment bills should be settled; it is our responsibility to wipe, out once and for all, internal fraud in our company. Let this investment that you have just made be fruitful. »
A day later, our Coach invited trade union leaders, staff representatives from different Regions for a cocktail cum dinner at his residence.
In 2001, in the process leading up to the privatization of SONEL, the State of Cameroon gave employees the option to become shareholders. In 2014, the Republic of Cameroon held 44% of the share capital of Eneo Cameroon while Cameroon Power Holdings (CPH) representing Actis held 56%. In June 2014, following incessant calls from workers, which became majority shareholder (56%), Actis, through our Coach took the commitment to ensure the successful outcome of the “5% file”. On 9 June 2017, on the eve of its 3rd anniversary, Eneo embarked on the transfer of 5% of the share capital of the company to employees through the GIC-P (Common Initiative Group for the Socio-Economic Development of Eneo Personnel, abbreviated: “GIC-P. ENEO »). The GIC was able to obtain CFAF 4.8 billion from direct subscriptions from workers. On the whole, 216.924 shares were subscribed to, for a value of CFAF 4.854.467 billion. 184.702 shares have been paid up and there are still 32.222 to be paid up. The amounts mobilized by personnel come from Senior Staff (39.32%), Intermediate Staff (31.62 %), Junior Staff (20.10 %) and Retired persons (8.96 %).
Subscriptions are ongoing up to 31 December 2017 at CFAF 21.000 per share. After 31 December 2017, the value of the share will be scaled up.
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