«SENS ANNOUNCEMENT (the “Notice” or “Announcement”) ISSUER COPPERBELT ENERGY CORPORATION PLC (“CEC”) [Incorporated in the Republic of ...»
There has been good progress made towards completing the development phase of the first 50MW of the Sierra Leone generation project. The project has gained the support of an enviable club of lenders from the development finance institution (DFI) universe – debt is fully subscribed.
IX. Telecoms Business
Our investments in the telecommunications sector recorded encouraging results in 2015.
We saw good growth coming from the business. CEC Liquid Telecom has continued to cement its position as the preferred wholesale broadband connectivity telecommunications company in Zambia, with the drive to improve the quality and affordability of the services it offers.
The company, whose backbone now spans the full breadth of Zambia, continued to grow its fibre footprint along inner town roads and highways from 2,494km in 2014 to 2,730km in 2015 and at the same time expanded its product portfolio using its Fiber to the Home (FTTH) service. Importantly, CEC Liquid Telecom has now turned profitable.
Through a Group restructuring, Hai Zambia (formerly Realtime) underwent a change in its shareholding during 2015, and became a wholly owned subsidiary of CEC Liquid Telecom, effectively becoming the latter’s retail arm; albeit operating at arms’ length. It is expected that this action will significantly grow the business through synergies with the parent company, CEC Liquid Telecom.
X. Events subsequent to the reporting date The Company declared a dividend, in February 2016, of 11.36 Ngwee (K0.1136) per share.
By Order of the Board Julia C Z Chaila (Mrs.) Company Secretary Issued in Lusaka, Zambia on 23 March 2016