Two new shareholders have joined in the development of the Nachtigal Hydropower plant. The Convention was signed in Yaoundé this Wednesday 5th November 2018.
The convention admitting two new shareholders within the Nachtigal Hydropower Company was signed by the Minister of Finance, Louis Paul Motaze for Cameroon and representatives of Electricite de France and SFI.
The two new members are Africa 50, an ADB affiliated company, sponsored by 27 African countries and Stoir Infra Energie.
With the new framework electricité de France now hold 40 percent of shares of the Nachtigal Hydropower Company, SFI owns 20 percent, the government of Cameroon holds 15 percent and Africa 50 hold 15 percent.
The Affiliation of the two new shareholders makes the Nachtigal Hydropower plant the largest South of the Sahara to be sponsored mainly by private funds.
The Shareholders took the commitment to make the project a reality with the prescribed deadline.