President Paul Biya signed on 11 January 2017 a decree authorizing the Minister in charge of the Economy, Louis Paul Motaze, to sign with the Export-Import Bank of China (Eximbank-China) An amount of CFAF 83 billion to finance the project for the construction of the electrical energy drainage works at the Memve’ele hydroelectric dam.
This new financing from Eximbank China is part of the 243 billion CFA francs to be contributed by the Chinese side in this project which amounts to a total of 420 billion FCFA. The African Development Bank (AfDB) is to release 112 billion FCFA. And Cameroon, 65 billion FCFA.
The impact of this dam is straightforward on the national level because, thanks to its 211 MW, electricity problems will have to be absorbed substantially in the country. The Chinese company Sinohydro in charge of project realization reassures about the delivery time of the dam, normally scheduled for June 2017.
Under construction on the Ntem river in southern Cameroon, near the border with Equatorial Guinea, the site of the Memve’ele hydroelectric dam is home to the first of the four Francis turbines in the plant since September 2016. This makes it possible to produce at least 52 MW of energy to power on a trial basis in Ebolowa, the regional capital of the South. It should be recalled that the work of this project was launched in January 2013.