CEC Becomes Most Valuable Company on LuSE After Surpassing $1 Billion Market Capitalization
The Copperbelt Energy Corporation PLC (CEC) has made history as the first Zambian-listed company to reach a market capitalization of US \$1 billion, cementing its position as the most valuable brand on the Lusaka Securities Exchange (LuSE).
According to LuSE, CEC’s market value surged to K27.1 billion (US \$1.24 billion), driven by strong investor confidence in its strategic vision, resilience, and regional growth prospects, particularly in Zambia and the Democratic Republic of Congo (DRC).
CEC, which supplies electricity to mining operations across the Copperbelt and the DRC, delivered a strong performance last year despite Zambia’s worst drought in decades. The drought crippled over 70 percent of the country’s 3,700-megawatt hydropower capacity, forcing the company to import costly electricity to sustain mining operations.
In a move to secure energy sustainability, CEC launched a US \$200 million Green Bond, aimed at financing renewable energy through its subsidiary, CEC Renewables Limited. The initiative is set to make CEC the largest solar power producer in Zambia with 230MW capacity by 2026, positioning the company as a leader in clean energy innovation.
CEC Managing Director Owen Silavwe described the billion-dollar milestone as a significant achievement that underscores investor trust in the company’s business model and strategic direction.
“This milestone not only marks a proud moment for CEC but also reinforces our responsibility to identify growth opportunities that deliver sustainable value to our shareholders and contribute to Zambia’s economic progress,” Silavwe said, in a statement issued by Verona Mwila Nkolola, Head of Corporate Communications and Investor Relations.
LuSE CEO Nicholas Kabaso hailed the development as a testament to CEC’s market leadership, corporate governance, and consistent performance.
“This milestone reflects the growing maturity of Zambia’s capital markets and sets a strong precedent for other listed entities. CEC’s success highlights the critical role capital markets play in driving sustainable economic development,” he said.
