3th January 2024, Lusaka – We are pleased to announce the successful listing of Zambia’s debut Green Bond on the Lusaka Securities Exchange (LuSE).

This milestone, which has been achieved through CEC’s subsidiary, CEC Renewables Ltd, will play a crucial role in driving renewable energy development in the country.

The listing ceremony was held on 12 January 2024 at the Intercontinental Hotel in Lusaka with the Minister of Finance and National Planning, Dr. Situmbeko Musokotwane as Guest of Honour.

Dr. Musokotwane commended the CEC Group for successfully listing the Green Bond for Zambia and contributing to the growth of the capital markets.

Dr. Musokotwane said the initiative that has been taken by the CEC Group is indeed climate smart and will not only significantly contribute to meeting the increased energy demand arising from the anticipated expansion of the economy but will also support Government’s commitment to climate mitigation, while also focusing on building and developing key sectors of the economy such as mining, agriculture, among others.

Also speaking at the ceremony, the CEC Group Board Chairperson, Mr. London Mwafulilwa said the Group is thrilled to be the first Company to issue a Green Bond in Zambia.

Mr. Mwafulilwa added that the Company remains keen on actualizing its green energy generation ambitions and will seek to attain this, as it issues the remaining tranches of the $ 200 million bond. Read More

Copperbelt Energy Corporation (CEC) has taken a significant stride towards sustainable operations with the successful commissioning of the 60-megawatt Itimpi Solar Photovoltaic Power Station in Garneton, Kitwe, held on Wednesday, 10th April 2024. The Plant was unveiled by the President of the Republic of Zambia, H.E. Mr Hakainde Hichilema, along with other dignitaries and stakeholders.

During the event, President Hichilema remarked, “What CEC has done today adds to our agenda as a nation to generate diversified electric energy. When CEC does what they have done today, we must see that [Itimpi Solar Plant] is a Zambian asset and investment which will contribute to the national economic development agenda.”

CEC’s Board Chairperson, Mr London Mwafulilwa, emphasized the company’s commitment to partnering with the government and other sector players to advance the electricity sector and contribute to the socio-economic development of the country. “This is an affirmation of our commitment as CEC to partnering first of all with the government and indeed with other sector players to contribute to the advancement of the electricity sector and the social-economic development of our country,” he stated.

CEC’s Managing Director, Mr Owen Silavwe, highlighted the significance of the project, remarking, “The combination of our Itimpi and our Riverside Solar Plants will deliver a total annual energy output of 186 GWh… The drought we have experienced this year is a wake-up call for the energy sector to be at the centre of driving lasting solutions that will ensure a consistent power supply to our economy at all times.” Read More

Zesco has signed a 13-year Bulk Supply Agreement with the Copperbelt Energy Corporation (CEC) worth 1.9 billon US dollars.

Speaking at a press briefing, Zesco Managing Director Victor Mapani said the new Bulk Supply Agreement marks the replacement of the old agreement which expired on March 31, 2020.

Mr Mapani said the Bulk Supply Agreement allows the two parties to supply power to customers within the country across each other’s networks.

He also said the development will ensure the territorial exclusivity clauses that existed in the previous agreement are addressed.

Source: https://tiozambia.com/cec-and-zesco-sign-billion-dollar-deal/

After leaving everyone in the dust at the recently ended mining Indaba in Cape town, Zambian mining players are shifting levers to ready for greater expansions and exploration investments. However to achieve that, power supply stability remains critical and this necessitated ZCCM-IH’s visit to power transmissions giant the Copperbelt Energy Corporation (CEC) Plc in the week.

The strategic nature of the visit is that it happened in the wake of a hat – trick of positives for Africa’s red metal producer namely record high base metal prices on the London Metal Exchange (LME), a newly signed Bulk Supply Agreement (BSA) after a 2 year bitter divorce between CEC and ZESCO Ltd and increased mining investment prospects to support the 3 million metric ton forecast for copper in the next 5-10 years time. Democratic Republic of Congos expansion prospects also pose a good fortunes for CEC as it supplies power to the Copperbelt of Africa. These factors further spell increased shareholders value for which ZCCM-IH is 24.1% in CEC Plc a company whose outlook is positive and whose shares are a must buy as energy demand is set to scale higher.

The decline in political risk post August has been a winner for the energy supplier following policy changes that supported a reversal in draconian statutory instrument 57 targeted at making the state utility a common carrier and this cost CEC massive impairments on its 2020 number. ZCCM – IH has a new board that have demonstrated strong business will to tap into Zambias mining boom with recently appointed board chair Dolika Banda leading the team on the mining road show as they court investee companies.

The mining investment vehicle has been strategic enough to create partnerships that will also ensure that financing is catered for to support smaller businesses such as SMEs that are tagged as downstream entities in the value addition chain in the faculty. ZCCM-IH inked a memorandum with Zambias largest bank Zanaco Plc to provide support to small to medium sized enterprises in their contribution to socio economic development.

Key areas of clarity that the mining fraternity will require is the recapitalization of Mopani copper mine with $300 million injection sought and a clearer path of the Konkola Copper Mine quagmire as these two areas continue to dampen investment posture. ZCCM-IH was spotted at Kagem mining where it holds 25% stake another lucrative investee company that is responsible for the worlds best emeralds.

Zambia will seek to drive strong economic recovery through mining which is currently bolstered by global decarbonization in the wake of the need to drive climate risk mitigation and adaptation stronger.

Source: https://thebusinesstelegraph.com/2022/06/04/why-zccm-ihs-courting-of-copperbelt-energy-corporation-plc-is-strategic/