CEC predicts good share price in 2026

CEC predicts good share price in 2026

By Mast Reporter

THE Copperbelt Energy Corporation Plc says it expects its share price on the Lusaka Securities Exchange (LuSE) to remain high in view of continued efforts to scale up investments in the renewable sector.

Market data availed by the LuSE revealed that the power utility’s share price soared to K25.96 per share by September 1, 2025, compared to K13.50 per share 12 months prior, representing nearly 100 per cent increment.

However, CEC’s share price declined slightly by the end of 2025, ending last year trading at K19.28 per share, the lowest since June 9, 2025.

CEC posted increased Profit After Tax (PAT) of US$61.5 million in its half-year period ending June 30, 2025, up from US$43.2 million in the prior period, driven by strong performance in all its business segments.

The company improved financial performance was mainly driven by strong performance in all its business segments, including local, regional power sales and wheeling.

Increased PAT was also boosted by higher gross revenues of US $360 million in the half-year period ending June 30, 2025, as well as a write-back of US$10.4 million, a portion of the Konkola Copper Mines’ Plc impaired amount.

This represents the third successive half-year where the power utility recorded sustained growth in PAT after it posted profits of around US$30 million, US$113 million and US$43.2 million in the half-year periods of 2022, 2023 and 2024, respectively.

Commenting on the share price performance, CEC chief financial officer Mutale Mukuka expressed confidence that the company would maintain a high share price on the local bourse on account of its continued investments across its business segments.

“We want to believe that the key takeaway is that the market buys into the strategy that the business is following. Some of the risks that we had on our balance sheet are slowly being addressed: the impaired debt has been written back; the investments in the renewable sub-sector has also contributed [to a high share price],” Mukuka said.

“We also have very specific investments in transmission, as well our prominence in the regional SAPP [Southern African Power Pool] – whether it’s trade, investments and partnerships – which are all filtering through what we see are the earnings.”

He said there was a need to take note of some of the soft areas like the quality of the reporting which had also played a role.

The firm had moved from annual reporting into integrated reporting and was now embedding other things such as the IRFS 1 and S2, which allowed it to have an integrated report where it commented on non-financial issues, risks and the governance more openly.

“We think that all of that go a long way in investors’ assessment of the risks and opportunity that lie ahead of the business. So, this is something that we think we need to continue to do, and hopefully, the market can continue to look at us positively,” Mukuka said.

Data from the company’s share chart showed that its share price peaked to an all-time high of K25.96 per share by September 1, last year, since going public on the local bourse back in January, 2008, opening at K0.45 per share.

The company reported that in the last two years, the CEC Green Bond had successfully raised US$150 million for the development of 230MW of solar power.

“At company-level, CEC has been consistent in rewarding dividends to its shareholders, a development that has positively impacted on investor sentiment in the company,” Mukuka said.

The Kitwe-based power utility is widely expected to declare a dividend to its shareholders, collectively 10,816 in total, in view of its consistently strong financial performance in recent years.