CEC revenue rises 5.6pc as profit edges higher

By BUUMBA CHIMBULU 

COPPERBELT Energy Corporation (CEC) increased revenue by 5.6 percent to US$380 million in the first half of 2026, driven by higher electricity demand and increased economic activity across its key markets.

According to the company’s unaudited financial results for the six months ended June 30, 2026, adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 21.7 percent to US$110.5 million, up from US$90.8 million recorded during the same period last year.

Profit increased marginally by 0.2 percent, despite the comparable period in 2025 benefiting from a US$10.4 million debt recovery from Konkola Copper Mines (KCM).

CEC also ended the period with a strong cash position of US$212.8 million, providing financial capacity to fund its expansion programme while maintaining a strong balance sheet.

Commenting on the results, Chief Executive Officer Owen Silavwe said the company’s performance reflected steady progress in executing its long-term growth strategy.

“CEC was accelerating investment in strategic electricity transmission infrastructure and renewable energy projects to meet growing customer demand and strengthen its presence across regional markets,” Mr Silavwe said.

He said the commissioning of the 136-megawatt Itimpi II Solar Photovoltaic Plant and the 12MW Fitula Solar Photovoltaic Plant during the period marked significant milestones, increasing the company’s generation capacity and improving the availability of locally generated power.

Mr Silavwe attributed revenue growth to rising electricity demand, positive industry fundamentals, increased economic activity and supportive policies encouraging investment and expansion across CEC’s operating markets.

Looking ahead, he said the company expected strong demand to continue, particularly from the mining sector, as investment in copper production gathers pace amid growing global demand for critical minerals driven by electrification.

“CEC would continue investing in renewable energy generation and strategic transmission infrastructure, including expanding transmission capacity into the Democratic Republic of Congo, to support long-term growth and deliver sustainable value to shareholders,” he said.

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