Can the Biya regime keep borrowing forever? 0

The 84 year old Cameroonian dictator, Paul Biya has empowered the Minister of the Economy, Planning and Regional Development to sign with the Bank of China, a loan agreement of 123.3 million US dollars. Cameroon Concord News understands the money is intended to finance the second phase of the solar photo-voltaic system of electrification currently going on in 350 localities. This is a project led by the Ministry of Water and Energy (MINEE), which has been underway since 2015 thanks to the technical cooperation of the Chinese company Huawei Technologies Co Ltd.

The Yaoundé regime says the ultimate ambition is to electrify 1000 localities all over the national triangle with solar energy.  The project is a desperate attempt by the drowning CPDM government to address the country’s energy deficit.  According to well-established Cameroon Concord News sources, the first phase involving 166 localities, is well advanced and has recorded an 80% realization rate. To be sure, 112 localities have already benefited from the production of photo-voltaic power plants from which our sources indicated Ngang and Konyambetta in the Center region, Babessi in the Northwest and Doumaintang in the East.

Once a power plant is built, households who wish to subscribe and pay their monthly consumption on the basis of the rates discussed will receive supply and this will help the CPDM regime to repay the debt incurred to carry out the project.

By Chi Prudence Asong

Cameroon Concord News