THE Copperbelt Energy Corporation (CEC) has forged partnerships with three private companies in establishing solar-powered plants estimated to cost US$340 million that will be generating 230 megawatts (MW) of electricity.
CEC has formed a consortium with a French company in implementing the GET Fit programme, a government programme aimed at enhancing the use of renewable energy in the country.https://epaper.daily-mail.co.zm/
GOVERNMENT has granted the Copperbelt Energy Corporation (CEC) approval to import about 200 megawatts (MW) of power from the Southern Africa Power Pool (SAPP) to mitigate the supply deficit in the wake of the power shortfall being experienced in the country.
SAPP is a cooperation of the national electricity companies in Southern Africa under the auspices of the Southern African Development Community (SADC).
CEC supplies power to the mines on the Copperbelt and in the Democratic Republic of Congo (DRC), some which is sourced locally from Zesco Limited through the bulk power supply agreement.
he Copperbelt Energy Corporation (CEC) has donated a motor vehicle to the Zambia Police Service in Kitwe to enhance security of strategic power installations on the Copperbelt.
The Motor vehicle valued at US $40,000 was received by Home Affairs Minister Stephen Kampyongo who was accompanied by Copperbelt Provincial Minister Japhen Mwakalombe and Inspector General of Police Kakoma Kanganja.
Speaking at the handover ceremony that was held at the CEC offices in Kitwe today, Home Affairs Minister Stephen Kampyongo said the donation has come at the right and critical time when mobility of the police officers is most important in the maintenance of law and order and protection of strategic infrastructure.
“We cannot as a country afford vandalism to our essential energy infrastructure at a time when the country is stressed by inadequate production of electricity due to the inadequate rainfall received in the southern half of the country, ” Mr Kampyongo charged.
He said while government is committed to providing necessary tools and equipment to the police officers, they were yet to be fully equipment to curb crime and vandalism of critical economic infrastructure.
He said the donation will enhance the Ministry’s resolve to discharge its mandate of protecting property and people.
Kampyongo further appealed to other corporate entities on the Copperbelt and the country as a whole to emulate CEC in supporting the police.
And CEC Board Chairman, London Mwafulilwa said the company has been experiencing a heightened spate of infringements to its electrical installations ranging from vandalism and theft of transmission lines for copper conductors.
Mwafulilwa said these have resulted in the monetary losses as well as disruptions in service delivery to productive sectors of the economy reliant on power.
He stated that this year alone, the company has recorded 10 cases of theft and three of vandalism where about 1, 505 metres of its overhead copper conductors have been cut off and stolen from the system on the Copperbelt.
He noted that arresting the market for copper conductors would help curb the problem.
Mwafulilwa further proposed that the police considers deploying dedicated officers to work on anti-theft involving conductors and other components of electrical systems containing copper for the benefit of all power utilities in the country.
And Copperbelt Police Commissioner Charity Katanga said the donated vehicle will enhance the operations of the police in curbing crimes targeted at CEC power installations.
DANGOTE Cement Zambia Limited has concluded a power purchase agreement with Copperbelt Energy Corporation (CEC) to sell between eight to 10 megawatts of power.
And the firm says it has invested US$500 million into the production of cement since it was commissioned in 2015. https://epaper.daily-mail.co.zm/
Source: Zambia Daily Mail
Copperbelt Energy Corporation Plc, Energy, ZCCM-Investment Holdings Plc
Posted on February 6, 2019 at 6:59 pm.
Written by Founder Fi
Following Copperbelt Energy (CEC Plc) disposing off its 50% shareholding in CEC Liquid Telecommunication Limited (CEC Liquid Telecom) to pan-African telecoms group, Liquid Telecommunication Holdings Limited (Liquid Telecom) in October 2018, investors in the company waited with baited breath for the CFO through his subcommittee on the board to conclude deliberations for the submission of the recommended special dividend from the proceeds of the sale.
The announcement that came on 1st February 2019 of a special dividend marked a four month wait for investors. The Board of CEC approved the payment of an interim dividend of US Cents 1.9 per ordinary share which translates to ZMW 0.2267 per share according to the SENS announcement that was issued.
Investors such as ZCCM IH which has shown intent on increasing its energy investment by increasing its shareholder by 4% in November 2018, will be pleased with this development as they bought the shares at an appropriate time that will see the investment group benefit from the announcement windfall.
IDC owned ZCCM-IH now owns 24 per cent shares acquired in the November 2018 transaction. At 1.6 Billion shares in issue, ZCCM IH now owns a staggering 390 thousand shares. This translates to their payment on 4th March 2019 (the effective date of payment for the dividend) US$ 7.41 million or K 88.4 million at an exchange rate of 11.93 kwacha to a dollar.
A recap of the rationale of the investment indicates that CEC entered into a Joint Venture with Liquid Telecom as equal partners in 2011. However, 8 years later, the Owen Silavwe led management team backed by the management’s belief system of entering into a telecommunications union with Liquid Telcom led them on a path that saw the entities assets attaining the desired commercial status that was in their strategy.
Although the company does not provide clear indications as to why divesture happened last year in their statement on the disposal, Liquid Telcom’s generous acquisition now sees investors having a handsome windfall in the early months of 2019.
Source: FIZAMBIA
As part of its corporate social responsibility Copperbelt Energy Corporation (CEC) recently handed over text books to the Mwangala Mwenda Foundation prior to the start of the 2019 year.
According to the company, the books are just some of the essential supplies the Foundation requires for the school year to support 34 primary and community schools located in Kalabo District of Zambia’s Western Province.
The grant from CEC has enabled the Foundation to purchase 510 text books, valued at K20,000, for grades 7 and 9. The books will be distributed across 10 schools when the school year starts in February.
The Foundation is a non-governmental organisation formed in 2016 with a vision to empower women and young girls in Kalabo District by providing project funding and education support.
CEC integrates responsible corporate citizenship into its operations and growth strategy to create sustainable value for all its stakeholders.
Education stands as one of the core pillars of CEC’s social investment, hence, the support rendered to the Mwangala Mwenda Foundation.
Source: Miningnews Zambia
The Copperbelt Energy Corporation (CEC) has sold off its 50 percent shares in CEC Liquid Telecommunication Limited (CEC Liquid Telecom) to pan-African telecoms group, Liquid Telecommunication Holdings Limited (Liquid Telecom).
The disposal of shares by Copperbelt Energy Cooperation brings to an end the long standing relations that span from 2011 as equal partners in the joint-venture subsidiary.
CEC Managing director Owen Silavwe said the move is to divert from the telecoms space due to recent developments in the sector, which he said had necessitated a review strategy.
“With this acquisition, Liquid Telecom now has full ownership of CEC Liquid Telecom and its retail arm, Hai Zambia, however we would continue to be involved with the company as an infrastructure provider,” Silavwe said.
He said at the time of forming the venture, CEC’s investment rationale in CEC Liquid Telecom was to facilitate for the full commercialization of CEC’s telecoms assets, ensuring adequate ring-fencing of the telecoms operations from the power business.
Silavwe said the CEC Liquid Telecom joint-venture, formed by the two partners in 2011, had grown to become a market leader and had invested in the rollout of a fibre optic network across Zambia that, today, delivers some of the country’s and Africa’s fastest broadband speeds.
“While this transaction provides an equity exit for CEC, we will continue to be involved with the company as an infrastructure provider. We are glad to have been a part of CEC Liquid Telecom’s innovative service offering under our part ownership and remain excited about its future,” Silavwe added.
Source: Zambia Reports
Copperbelt Energy Corp (CEC) has sold its 50% stake in CEC Liquid Telecom to Pan-African telecoms group Liquid Telecommunication Holdings, the power firm said on Tuesday.
CEC, Zambia’s main supplier of power for its mines, and Liquid Telecom were equal partners in the joint telecoms firm since 2011, which is a market leader and has been rolling out a fibre optic network across Zambia.
The power firm did not disclose the amount it sold its stake for or why it had decided to dispose of its investment.
However, CEC said it would continue to be involved with the telecoms firm as an infrastructure provider.
Source: Mining Weekly
Copperbelt Energy Corporation Plc
[Incorporated in the Republic of Zambia]
Company registration number: 39070
Share Code: CEC
ISIN: ZM0000000136
[“CEC” or “the Company”]
Copperbelt Energy Corporation Plc (“CEC” or “the Company”) is pleased to inform its Shareholders and the general public that the Company has signed a long-term contract to supply up to 78MW of electricity to Metalkol SA (“Metalkol”), a major cobalt and copper tailings reprocessing operation in the Democratic Republic of Congo (“DRC”). Metalkol, which is owned by Eurasian Resources Group (“ERG”), a leading diversified natural resources group, is also a low-cost hydro-metallurgical facility.
The contract, agreed with Metalkol and DRC’s national electricity company Societe National d’Electricite (“SNEL”), secures electricity supply to Meltakol for up to ten years in two phases.
The first phase, to deliver a total of 62MW, will run until the second quarter of 2019; following which power supply will ramp up to 78MW per year during the second phase and for the remainder of the contract.
The Company’s Managing Director, Owen Silavwe, has described the agreement as a demonstration of CEC’s commitment, agility and promise to meet the specific and unique requirements of customers in Zambia and the DRC market, and a reaffirmation of the Company’s growing partnership with SNEL and the mining community in the DRC.
Benedikt Sobotka, CEO of Eurasian Resources Group, commented that “This is an important milestone in the progress of the Metalkol project, a unique development for the global battery industry. It is an example of sustainable and environmentally conscious treatment of the local environment, and of our wider strategic ambitions in Africa. Together with our partners, who are vital companies in their respective countries, we have found an effective solution to guarantee a reliable electricity supply, which has previously been an issue in the region.”
SNEL’S Director General, Jean-Bosco Kayombo Kayan, said the trilaterak agreement signed with CEC and Metalkol demonstrates SNEL’s willingness to serve its customers by offering expertise in the Southern African energy market.
Issued in Lusaka, Zambia on Thursday, 2nd August 2018
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First Issued on Friday, 27th July 2018
The Directors of Copperbelt Energy Corporation PLC (“CEC”) are pleased to announce the release of the annual report for the year ended 31 December 2017. Below is an extract from the Chairman’s Statement.
Our role, as a business, extends far beyond providing electricity that keeps the wheels of mining, and the Zambian economy, turning. We enable economic growth, contribute to job creation and skills development. We invest in the social transformation of individuals, people groups and the larger society through different forms of social investments; including but not limited to infrastructure development, training, education and local human capital development. We see that our traditional role as electricity provider of choice to the mining industry will continue even as certain aspects evolve in line with relevant changes in both the mining and energy industries, technological and other external factors. Our Managing Director, in his performance review, delves into the detail of the key market developments of 2017 on our radar…
The board oversees the process to set, review and plan strategy which is reconfirmed at the start of each year. In 2017, the strategy was reviewed for the five-year period 2017 to 2021. Management presented a seven-pillar strategy that seeks to modernise and efficiently manage the CEC network; consolidate our regional market position; realise multiple power sources; enhance stakeholder engagement; support the realisation of a robust tariff setting and migration path; provide management services and invest in viable generation and transmission projects aligned to our core business…
Our Company aims to embed sound corporate values into every day decisions, processes and operations in order to ultimately build a culture of transparent, accountable and sustainable business conduct. Working and acting with integrity at all times is integral to our continued business success…
The business exists to create value for our principal stakeholders and one way in which we return value to our shareholders on their investment is through a distribution of profits through dividend. Declaration of a dividend is a matter for our board. Our policy provides for payout of 50% of earnings subject to the availability of cash, reserves and having provided sufficiently for working capital and other obligations. A cash dividend of USD21 million was paid out to our ordinary shareholders, an increase of 28% over 2016 (USD16.4 million)…
Our focus is the execution of our strategy to achieve sustainable performance and create sustained value for all stakeholders. This will be enabled by our adherence to sound governance principles and actions, effectively mitigating our risks, engaging with all our stakeholders successfully, and developing and retaining the relevant skills in our business…
I am grateful to my fellow directors currently serving on our board for their invaluable contributions and their active participation in setting the Company’s strategy in the past year. I also thank those who stepped down during the year and welcome the new directors.
I am grateful for the hard work, dedication and commitment of our Managing Director and his management team. I congratulate them for delivering on the CEC strategy and for presiding over the improvements in financial, operational and social performance recorded in the reporting period. My heartfelt gratitude also goes to all the staff for their efforts, without which we may not be posting this performance. I thank our customers for showing their continued confidence in us through their business.
Hanson Sindowe
Chairman
Source: Copperbelt Energy Corporation