CEC Celebrates Historic One Billion Market Capitalisation Milestone
Copperbelt Energy Corporation PLC (CEC) proudly marked a landmark achievement on May 22, 2025, as it celebrated reaching and surpassing a market capitalisation of US$1 billion, a first in Zambia’s capital markets history.
The momentous occasion was honoured with a symbolic Bell Ringing Ceremony at the Copperbelt Agricultural, Mining, Industrial, Networking and Enterprise Expo (CAMINEX) in Kitwe on May 28, 2025.
The event, officiated by His Excellency, President of the Republic of Zambia, Mr. Hakainde Hichilema, who was represented by Honourable (Hon.) Paul Kabuswe, Minister of Mines and Minerals Development, drew a distinguished audience of government officials, industry leaders, investors, and media representatives.
In his keynote address, Hon. Kabuswe affirmed that the Government remains committed to supporting private sector-led growth. “CEC’s achievement strengthens investor confidence and shows that our policies to create an enabling environment are working. The success of CEC is the success of Zambia,” he said.
Speaking at the event, Hon. Chipoka Mulenga, Minister of Commerce, Trade and Industry, underscored the broader national impact, calling for deliberate efforts to report and celebrate such positive achievements. “What CEC has achieved is not just for the Company. This is a Zambian success story, a milestone for every citizen to be proud of,” he stated.
CEC’s Chief Financial Officer, Mr. Mutale Mukuka, highlighted the milestone not just as a financial achievement but as a reflection of strong stakeholder collaboration, strategic execution, and commitment to national development. “This US$1 billion milestone belongs to all of us – our employees, our customers, our investors, and our partners in government. It signifies what we can accomplish when we work together,” he said.
The Securities and Exchange Commission (SEC) echoed these sentiments, describing the milestone as a realisation of Zambia’s Capital Markets Master Plan, a document prepared by CEC and a benchmark for others to emulate. “CEC is not only creating shareholder value—it is driving national development,” said Mr. Nonde Sichilima, Director for Market Supervision and Development at SEC.
Mr. Nicholas Kabaso, Chief Executive Officer of the Lusaka Securities Exchange (LuSE), emphasised that this achievement signals investor confidence in CEC’s leadership and Zambia’s capital market potential. “This is not just a number. It is a symbol of what Zambian companies can achieve. It’s also a call to action—to build on this momentum and deepen capital market participation.”
The milestone coincides with a period of strategic transformation for CEC, including expansion in renewable energy generation, the issuance of a successful Green Bond, and the commissioning of the 60 MW Itimpi Solar Photovoltaic Plant.
The ceremony concluded with the symbolic ringing of the LuSE Bell, brought to the Copperbelt for this special event, marking the first time it has left Lusaka for such an occasion.
Guests toasted the achievement with champagne, celebrating a day that reaffirmed CEC’s role as a cornerstone of Zambia’s industrial and economic development.
