Lusaka Securities Exchange (LuSE) Chief Executive Officer, Nicholas Kabaso, has described Copperbelt Energy Corporation’s (CEC) attainment of a US$1 billion market capitalisation as a historic milestone that reflects growing investor confidence in the Zambian economy.
CEC reached the landmark valuation this week, becoming one of the most valuable companies listed on the local bourse.
Speaking during the symbolic ringing of the bell at the ongoing Copperbelt Agriculture, Mining and Industrial Networking Expo (CAMINEX), Kabaso said the development signifies investor trust in both CEC’s performance and the strength of LuSE.
“This is an indicator of how investors gauge the market’s resilience and the integrity of CEC as a company and its leadership,” he said.
Kabaso noted that CEC was living out the LuSE vision of creating long-term value, citing the company’s ongoing investments in key energy projects, including solar initiatives.
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CEC Chief Financial Officer, Mutale Mukuka, reaffirmed the company’s commitment to further growth.
“The current power supply challenges are a wake-up call. Companies like CEC must continue to lead in providing energy solutions,” Mukuka stated.
Commerce, Trade and Industry Minister, Chipoka Mulenga, also hailed the achievement as a major milestone.
“We are proud of CEC’s accomplishment. It speaks to the resilience of Zambia’s economy and the critical role such investments play in reducing the country’s power deficit,” he said.
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