CEC | Release of 2012 annual report
The Directors of Copperbelt Energy Corporation PLC (“CEC”) are pleased to announce the release of the annual report for the year ended 31 December 2012. Below is an extract from the Executive Chairman’s Statement.
Statement from the Executive Chairman
Welcome to the 2012 edition of the Copperbelt Energy Corporation PLC Group annual report. This is the second year we are reporting consolidated results for The Group; comprising CEC (‘the Company’), Realtime and CEC Liquid Telecom…
Safety, Health and Environment
During 2012, the Company enjoyed a very good run in the safety, health and environmental stewardship arena. All members of staff, be they directly or remotely involved in matters of maintaining and upholding safety, health and environmental management and stewardship, deserve very high commendation for this…
Financial Performance
The Company’s financial performance was positive, posting a turnover of K1,358,747 million. We continue to deliver shareholder value so that our investors can earn a healthy return on their investment…
Projects
I am delighted to report that the Kabompo Hydro Power Project, whose progress we have consistently reported on, is moving steadily forward with several important strides having been taken in 2012…
Subsidiaries
Realtime Zambia posted a turnover of K33.1 billion in 2012, up from K26.9 billion in 2011. Considering that the business registered a turnover of K6.4 billion in 2008, this translates into growth, in turnover alone, of 433% over a period of 4 years in a fast growing and very competitive industry…
Acquisitions
The Company, through KANN Utility Company Limited, was selected preferred bidder for the purchase of the Abuja Electricity Distribution Company (AEDC) in Nigeria…
Board Operation
We, unfortunately, lost a member of our board during the year. Standwell Mapara was a Non-Executive Director representing ZCCM-IH, who passed away on 19th July 2012. He had diligently served the board since November 2009
until his demise…
Outlook and Conclusion
There are great prospects looking forward into 2013 because of all the projects the Company is already undertaking. Prospects for continued growth remain buoyant on the expectations of high performing macroeconomic fundamentals, conducive investment climate and prudent fiscal management…
Hanson Sindowe
Executive Chairman
To download the full 2012 annual report please click on the link below.
