Demand for electricity in Africa increasing – CEC

 

THE Copperbelt Energy Corporation (CEC) is exploring new markets for power sources across Africa following increased demand of the commodity in the region, says company managing director for operations Owen Silavwe.

Mr Silavwe explained that Zambia and DR Congo were the main markets for power from the corporation.

Responding to questions during the investor conference call over company interim results for the year ended 31st May, Mr Silavwe said CEC was looking for new sources in aligning with its strategy.

“Maybe just to start with the expansion, what I was basically saying is that in terms of the markets where we are selling power today it is mostly Zambia and DR Congo.

“However, from a power sourcing perspective, we are always looking around for new sources of power to ensure we align that with our strategy to have multiple sources,” she said.

Mr Silavwe said the company was interested whenever there was availability of power sources within the market region.

“If as part of that process we need to take a stake, be it in the power source itself or in ensuring that transmission capacity to enable the movement of power within the region is created, then obviously we need to take a strategic view on that.

“So we will obviously review those opportunities as they rise and then try and determine how aligned they are to the strategy that we are pursuing at the moment,” he said.

He also said CEC would continue to pursue the demand for power in the mining sector for the DRC as the country’s market was still growing.

Mr Silavwe said the power shortages in DRC just like other African countries opened up markets for CEC.

“Obviously we need to have a strategy as to how we address the potential growth in that market. And that is something that we will continue to work on,” he said.

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