The “Société de développement du coton” (Sodecoton) signed, on January 30, 2023, in Garoua, the capital of Northern Cameroon, a financing agreement with the European Union (EU) for 6.5 billion CFA francs, or about $11 million.
According to the parties, these funds will be used for Sodecoton’s energy transition. This involves, in particular, the construction of 5 solar plants to power its various factories.
Thus, Sodecoton will reduce the impact of Eneo’s load shedding on yields and the high cost of diesel fuel used to run its generators, the price per liter of which has increased by 25% since February 1, 2023.
