CEC Reports Robust First-Half Results as Regional Expansion and Clean Energy Investments Gather Momentum
Copperbelt Energy Corporation Reports US$61.6 Million Profit and US$61 Million Dividend in Strong H1 2026
Copperbelt Energy Corporation (CEC) showcased its financial strength, regional growth ambitions and renewable energy strategy during its 2026 Open Day, which attracted more than 800 shareholders and stakeholders both in person and online.
Held at the InterContinental Hotel, the annual event provided investors with an opportunity to engage directly with the company’s leadership on financial performance, strategic priorities and long-term growth plans across Zambia and the Democratic Republic of Congo (DRC).
One of the key highlights was CEC’s US$61 million dividend, declared in August, alongside strong financial results for the first half of 2026.
Board Chairman London Mwafulilwa said the dividend reflected the company’s disciplined financial management and continued commitment to delivering sustainable value to shareholders.
Group Managing Director and Chief Executive Officer Owen Silavwe highlighted CEC’s longstanding contribution to the region’s energy sector.
As Zambia’s oldest utility company and the second-oldest utility on the African continent, CEC has played a critical role in developing and operating power generation, transmission and energy trading infrastructure serving major mining and industrial customers.
A major focus of the Open Day was CEC’s growing renewable energy portfolio and its vision for the future of power supply in the region.
CEC Renewables Chief Executive Officer Reuben Kapala Munungwe outlined progress on several clean energy projects, including the Garneton South Solar Project and the group’s expanding pipeline of solar and battery storage developments.
He emphasized the increasingly important role of renewable energy in meeting growing electricity demand, noting that the integration of Battery Energy Storage Systems (BESS) with solar facilities is improving reliability, dispatchability and grid stability.
The combination of solar generation and energy storage is helping position renewables as a dependable source of baseload power for industrial and commercial consumers.
Chief Financial Officer Mutale Mukuka presented the group’s financial results for the first six months of 2026, highlighting another period of robust performance driven by strong demand from the mining sector and favourable copper prices.
CEC reported revenue of US$380.3 million, supported by average copper prices of approximately US$13,000 per tonne, while profit after tax reached US$61.6 million.
Underlying operating profit increased by 24% to US$96.4 million after adjusting for debt write-backs recorded during the previous reporting period.
The company’s balance sheet also remained strong, with cash and cash equivalents totaling US$213 million, total assets of US$979 million, and a gearing ratio of just 26%.
Mukuka said CEC’s financial position provides the foundation for disciplined capital allocation and strategic investments capable of generating returns above the company’s cost of capital while supporting long-term growth.
The company’s regional expansion strategy was also highlighted during the event.
CEC DRC Managing Director Major Sikaundi detailed the significant opportunities emerging within the DRC’s rapidly growing copper and cobalt mining industry.
He noted that CEC’s operations in the country continue to achieve strong double-digit growth in electricity wheeling volumes, reflecting increasing industrial activity and rising power demand from mining projects.
Chief Commercial Officer Hilton Mwape Fulele highlighted the growing importance of regional electricity markets, cross-border power trading and ongoing market liberalisation efforts across Southern Africa.
He said investments in transmission infrastructure, regional interconnectors and participation in regional power pools are positioning CEC to capitalize on increasing electricity demand from both mining and industrial customers throughout the region.
The Open Day gave shareholders a comprehensive overview of CEC’s financial performance, operational priorities, renewable energy investments and regional growth plans.
