This record valuation reflects an unprecedentedly strong rally on the Lusaka Securities Exchange (LuSE) for the main power supplier to the mines in Zambia and the Democratic Republic of Congo.

According to the LuSE trading results of 23 May 2025, CEC’s market capitalization stands at K27.1 billion—equivalent to about US $1.24 billion at the current exchange rate—making it the most valuable brand among the 20 publicly listed companies on the Lusaka bourse.

The record performance of CEC’s shares comes at a very difficult time, as the Southern African region is reeling from the worst drought in decades, which has deprived Zambia of about 70% of its power generation. However, analysts say this performance reflects investors’ endorsement of the values and strategy of CEC’s top management team.

At a time when most power developers are struggling to reach financial close on key renewable projects, CEC became a trailblazer by issuing its US $200 million bond, which will enable its wholly owned subsidiary, CEC Renewables Limited, to become the biggest solar generation company in Zambia, with a capacity of 236MW by the end of this year.

CEC is also in the process of building a second transmission line to bolster the capacity of the Zambia-DRC power transmission network to 550MW from the current 250MW. This will strengthen the SAPP central power corridor and allow CEC to take advantage of improving power generation in the lower parts of Southern Africa.