𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞: 𝐌𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟏𝟐 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐅𝐫𝐚𝐧𝐜𝐬 𝐂𝐅𝐀 𝐄𝐚𝐫𝐧𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐟𝐢𝐭 𝐚𝐭 𝐄𝐃𝐂 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫 𝟐𝟎𝟐𝟑
Based on the 53rd Ordinary Session of the Board of Directors which took place on June 21, 2024 at the Headquarters of Electricity Development Corporation (EDC), the Company earned more than 12 Billion Francs CFA in profit for the year 2023. This result was obtained through a number of reforms carried out by the senior management, some of which included a more effective management of expenses, setting up a biometric system to encourage punctuality and diligence among the Company’s employees, and integrating revenue from the Memve’ele Project into the Company’s account.

Despite an economic environment characterized by inflation, high taxes and a remarkable decrease in purchasing power, EDC has continued to make results-based management its priority. The first three turbines of the Lom Pangar Power Plant have been successfully commissioned and will play an important role in supplying stable electricity to households in the entire East Region including Bertoua, Abong Mbang, and Batouri, and the additional project to electrify 150 villages in the East Region by the end of this year has made significant progress.

The signing of the contract on July 17, 2024 between EDC and ISL Engineering at the Company’s Headquarters to begin feasibility studies for a new hydroelectric dam at Mbakaou in the Djerem Department, aims to not only increase the national energy supply, but primarily that of the North, Far North and Adamawa Regions, creating further potential for economic development and employment.