CEC Warns Public Against Fraudulent ‘CEC Investment Zambia’ Scheme
Copperbelt Energy Corporation Plc (CEC) has issued a strong warning to the public against engaging with a fraudulent investment scheme circulating on social media under the name CEC Investment Zambia (CEC Investment ZM), which claims to offer returns of up to 300 per cent.
In a statement released on Tuesday, CEC clarified that it has no connection with the platform, describing it as a likely scam. The company cautioned members of the public against investing through the scheme and urged them to exercise vigilance.
“CEC is not involved and has no affiliation whatsoever with the purported investment platform. Members of the public are strongly advised not to engage or invest through this platform, as it is likely to be a fraudulent scheme,” the company stated.
The publicly listed utility, which operates on the Lusaka Securities Exchange, reaffirmed that its core business remains the transmission, generation, distribution, and supply of power, as well as energy infrastructure development in Zambia and the Democratic Republic of Congo. It does not conduct or promote investment opportunities of the nature being advertised online.
CEC further advised that individuals seeking to buy shares or invest in the company should only do so through registered brokers. The corporation also called on the public to report any suspicious activity linked to CEC Investment Zambia to law enforcement agencies and the Zambia Information and Communications Technology Authority (ZICTA).
The warning comes amid growing concerns about online scams in Zambia, many of which exploit the names of established companies to deceive unsuspecting investors.
