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In recent months, a new wind of privatization has been blowing on Togolese public companies. This wave of privatization that began in the 2010s is now at its peak. If the objective of such an initiative is to ensure good governance of state-owned companies, then it is likely that CEET will be on the list. This company has been the subject of numerous scandals related to calamitous management and corruption. A disengagement from the state would not be surprising. The meeting a few weeks ago of the Boss of EDF, the French energy company and the Head of State are warning signs of a privatization in sight.
Discussions three weeks ago between the CEO of French Energy (EDF), Jean-Bernard Levy and the Togolese Head of State Faure Gnassingbé focused on CEET, Togo’s energy company, among others. The French company that had already managed this company is back in force to convince the Togolese president on innovations that will not only strengthen the system for supplying electric power, but also find a solution to the bad management criticized in the country. ‘business.
The Chairman and CEO of EDF has proposed, among other things, the development of other sources of energy, notably wind and solar, in order to amortize the high costs of electric current in Togo for the benefit of the populations. The meeting was held at the same time that the Togocom telephone company knew of new owners.
The majority (51%) of Togocom’s capital was sold to the Agou Holding consortium, a Malagasy group.
Recently launched, the privatization of two public banks, BTCI and UTB, is still under way and this is nothing new.
Already at the beginning of 2010, BTD and BIA-Togo had been bought by Oragroup and Attijariwafa Bank.
Currently, Lomé Airport is highly coveted and is in danger of being privatized.
What explains the privatization of these state-owned companies?
For some time now, the authorities’ disengagement from the management of public companies has continued to fuel controversy.
It’s known ! The daily management of many state-owned companies is to be deplored. Scandals of corruption, financial embezzlement, fictitious jobs or favoritism are recurrent.
A situation which is undoubtedly one of the reasons why the government incessantly initiates waves of privatization.
Also, it may be that the enormous need for resources for the growth of the country is a cause of these decisions of the authorities. Even if the conditions of these privatizations do not respect an orthodoxy to fully benefit the citizens.
Anyway, some wonder if Compagnie Energie Electrique du Togo (CEET) is not the next company on the list. The answer is yes. This company is a real dairy cow of its Director Kakatsi who does what he wants with it. His driver is converted into a company executive, patron of logistics. Even the wife of his driver is housed in the big name of society, not to mention the flaws in form and procedure in the recruitment and promotion of staff. Billions are wasted every day.
Mismanagement is a gangrene of public institutions in Togo, it is notorious. CEET is a living example.
Poor governance is another. For years, this company has been at the center of embezzlement. Numerous crises with the Nigerian and Beninese partners, supply disruptions and untimely cuts, financial embezzlement, nepotism, etc.
The Director General, Mr. Mawussi Kakatsi, who reigns as a Saudi Prince, continues to bleed the Togo energy company white with dubious contracts.
These multiple crises denounced in our previous publications have made Togo’s goal of energy independence a failure.
It should also be recalled that in the past, the majority of the capital of CEET had been held by a French group. However, the difficulties in supplying power continued, which forced the government to take matters in hand. Proof that privatization is not necessarily a solution to the problem of poor governance. This is why EDF is coming back with new guarantees and new offers.
In its new development policy, the government favors collaboration with the private sector in the form of public-private partnership and it is with this in mind that several agreements have been signed to regularize the situation of the electric company.
In the past three years, for example, loans have been granted by financial partners to improve the production of electrical energy. Loans that are misappropriated on a daily basis by the Kakatsi team and its accomplices.
However, these measures have
allowed to restore a more or less stable supply. Even if many huge scandals remain buried; and no institution can reach its full potential and satisfy its customers to the maximum if there are gray areas.
Transparency is a sine qua non condition for sustained growth. It does not exist at CEET.
The authorities, aware of this, are constantly taking initiatives to clean up the public sector. It is therefore highly likely that measures will be taken against the Compagnie d’Energie Electrique du Togo.
If the measure taken is a privatization, one wonders what could be the consequences of such a decision. At the moment, the situation is fairly constant and no one is complaining. But the next few days will tell from secrets. A serious grip will stop the bleeding at CEET. In this case, the privatization will be positive, if it is to benefit the Togolese citizens.
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Alfredo Philoména