Business

CEC SPENDS 43P.C. OUTLAY ON LOCAL FIRMS

By SANFROSSA MANYINDA

THE Copperbelt Energy Corporation (CEC) spent 43 percent of its total economic contribution in 2020 on local suppliers and contractors, compared to 30 percent to foreign suppliers.

The firm believed that contributing to the growth of local enterprise and enabling social emancipation was important in its quest for value creation and sustainability.

CEC chairman, London Mwafulilwa, said the firm delivered commercial value to local enterprise and invested in community initiatives with potential for transformative outcomes during the year 2020.

Mr Mwafulilwa said in Kitwe that CEC recognised the threat that the Covid-19 pandemic posed to the survival of local businesses and the knock-on effects on the economy.

“We enabled contracts for goods and services to local suppliers and contractors of up to 43 percent of the Company’s total economic contribution for the year against 30% that was paid to foreign suppliers.

“We believe that injecting more than $129 million into local enterprise through the provision of contracts for the supply of goods and services will aid economic recovery, promote growth and support job creation,” he said.

Mr Mwafulilwa said that with the Covid-19,   the livelihoods would deteriorate as the earning power of members of the community was adversely affected by restrictions meant to preserve public health.

He added that CEC proactively supported disease containment measures at both community and government levels.

Mr Mwafulilwa said the Company sourced and donated to the Ministry of Health Covid-19 testing kits and reagents.

He said PPE and sanitation products were, including reusable face masks and hand sanitizer, donated to charities, public health institutions and community-supported schools in the Copperbelt and rural North-Western Province.

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