LUSAKA – GreenCo Power Services, a Mauritius-based subsidiary of Africa GreenCo Group, has joined the Southern African Power Pool (SAPP). GreenCo joined the SAPP as a Market Participant on October 8th, 2021. GreenCo Group CEO Ana Hajduka thanks the SAPP team and existing SAPP members for their faith and support of innovative new business models […]
On 15th October, 2021 the Minister of Energy, Mr. Kapala, appraised Members of Parliament on ZESCO’s debt position. The minister announced that the national utility’s total debt was standing at $3.5billion. The country’s main electricity supplier has amassed debt due to costly payables due to emergency power supplier and Independent Power Producers, among other reasons. […]
Energy, the backbone of development, serving humanity and driving economic growth. Access to energy is essential for Zambia’s key economic sectors: mining, agriculture, tourism, and trading. The structure of the energy sector in Zambia is comprised of 3 sub-sectors namely; electricity, petroleum and renewable energy. The energy sector in Zambia is overseen by the Ministry […]
Despite the recorded net loss of ZMW 576 million (Kwacha Five Hundred Seventy-six Million) for the half year 2021, CECA performance continued to make steady improvement regarding various issues that have affected its performance in previous years, including: Non-Cost Reflective Tariffs: In 2019, the Nigerian Electricity Commission issued a minor tariff review which enabled Abuja […]
For the half year ended 30 June 2021 the Company recorded a profit after tax of K4.235 million compared to K80.064 million recorded in the previous financial year. Volumes were 4% lower than those achieved for the same period last year. A profit before finance costs, taxation and exchange losses of K79.466 million was achieved […]
The only listed power utility in Zambia has advised shareholders that it expects improved earnings when it produces its 6 month unaudited financial statements. “In accordance with Section 3.4(b) of the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of the Copperbelt Energy Corporation Plc (“CEC” or “the Company”) hereby advises the Shareholders [&he
The only listed oil marketing company on the Lusaka Securities and Exchange has announced the appointment of Knight Silumesii as its new CEO following the resignation of Pinchi Simukwai, according to at statement from the company. “Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of Puma Energy Zambia Plc […]
CEC Zambia Plc has advised shareholders that it has a number of legal cases pending in the Zambian judicial system that may have a material impact on the company financials. According to the company’s recently published 2020 Annual Report, “The Company is party to various legal cases whose outcome is dependent on the conclusion of […]
The only LUSE listed oil marketing company has recorded an approximately 52% increase in profit after tax to K160.18 million, according to PUMA Energy’s latest SENS announcement. “For the year ended 31 December 2020 the Company recorded a profit after tax of K160.18 million compared to K105.55 million recorded in the previous financial year”, read […]
During the year under review, the balance between supply and demand for electricity for CEC remained a challenge as the demand continued to outstrip the supply. This resulted largely from the lower than normal water levels at the country’s major hydro power stations. However, the shortfall of electricity peaked at 40% of the national demand […]
Energy
