At a Glance
- CEC becomes the first Zambian company to surpass $1.5 billion market value on LuSE.
- Strong investor demand fuels growth amid Copperbelt mining power requirements and cross-border trade.
- Renewable energy and $150M green bond accelerate Zambia’s transition from hydropower reliance.
Copperbelt Energy Corporation (CEC), a premier Zambian power company, has rewritten the record books on the Lusaka Securities Exchange (LuSE), becoming the first Zambian-listed company to surpass a $1.5 billion market valuation, a milestone that underscores growing investor confidence in the country’s energy infrastructure champion.
The surge in valuation, marking the highest ever for a Zambian-listed company, cements CEC’s position as one of Zambia’s most valuable publicly traded firms and reflects renewed appetite for companies seen as central to industrial growth, energy security, and regional power trade.
Investor confidence lifts market value
CEC’s rise to the $1.5 billion mark has been driven by sustained demand for its shares as investors back its long-term expansion strategy across power generation, transmission, mining, and cross-border interconnection.
Copperbelt Energy Corporation is the second-largest stock on the Lusaka Securities Exchange, valued at ZMW31.2 billion ($1.54 billion), representing roughly 9.35 percent of the total market. In comparison, Shoprite, owned by South African billionaire Christopher Wiese, continues to dominate the Zambian bourse with a market capitalization of ZMW190 billion ($9.4 billion), accounting for about 57.1 percent of the entire LuSE equity market.
The company’s stock performance has outpaced the broader LuSE, elevating its weight on the exchange and reinforcing its status as a bellwether for Zambia’s capital markets.
Energy transition strategy in focus
The valuation milestone comes as CEC accelerates its pivot toward renewable energy and grid resilience. In December 2024, the company issued a $150 million, 15-year green bond, the first of its kind by a Zambian firm, to finance 230 megawatts of solar projects.
The move positions CEC at the forefront of Africa’s sustainable finance market while reducing Zambia’s heavy reliance on hydropower, which has been strained by recurring droughts.
Mining demand anchors growth outlook
CEC’s core advantage remains its deep integration into the Copperbelt mining ecosystem. With copper production in Zambia and the Democratic Republic of Congo set to expand sharply over the next five years, miners are expected to require hundreds of additional megawatts of reliable power.
CEC’s extensive transmission network and ownership of the Zambia–DRC interconnector place it at the center of this demand surge.
A milestone for Zambia’s capital markets
CEC’s $1.5 billion valuation is more than a corporate achievement. It signals a maturing Lusaka Securities Exchange and highlights how infrastructure-led growth stories can attract long-term capital.
As Zambia pushes to secure energy for industrialization and exports, CEC’s ascent marks a defining moment for both the company and the country’s equity market.
