How we are governed
For decades, CEC has supported the growth of Zambia’s industry. Our longevity is testament to our ability to deliver the reliability and power solutions needed to ensure that our customers continue to sustain their operations, grow and expand. CEC’s unrivalled track record and experience give the necessary comfort to both new and existing mining operations.
Renowned for its power transmission, generation, distribution and supply expertise, CEC is a Zambian power Company operating in Zambia and the Democratic Republic of Congo (DRC). A Lusaka Securities Exchange (LuSE) publicly traded Company and a member of the Southern African Power Pool (SAPP), CEC is a major player in regional power trading, playing a crucial role in facilitating the exchange of electricity across the region, contributing to energy security and economic growth.
CEC remains committed to supplying reliable energy and high-quality services to meet its customers’ unique and changing needs in an effective and proactive manner.
Board and Committee meetings
Board and Committee meetings are held quarterly with special or additional meetings held as necessary. Briefing material is provided to the Directors at least seven days prior to each meeting.
Articles of Association
The Articles of Association of the Company provide for a Board of twelve Members. The Board is comprised of one Executive Director, who is the Managing Director and eleven Non-Executive Directors of which two are Independent Directors. In addition to the Articles of Association, the Board has a Charter which prescribes its role and responsibilities. To assist in the performance of its role, the Board has established five Committees which have specific roles and responsibilities in key areas. These are the Executive, Remuneration and Employee Development, Health, Safety, Environment and Social, Audit and Risk and Nominations Committees.
The Board and Governance Policies
Insider Trading Policy
The Company has an Insider Trading Policy which requires that:
Directors, key management personnel, officers and employees refrain from dealing in the Company’s securities, during closed periods between the close of the Company’s half year (30th June) and annual reporting (31st December) periods and the relevant results or during prohibited periods whilst in possession of price sensitive information not yet released to the market.
Conflict of Interest Policy
The Company has a Conflict of Interest policy in place to assist directors and employees disclose potential conflicts of interest.
Board Of Directors
CEC is committed to corporate governance principles of openness, integrity and accountability and has adopted the Lusaka Securities Exchange (LuSE) Code of Corporate Governance for listed and quoted companies.
The Board has a non-executive Chairperson and a non-executive Vice-Chairperson in accordance with the Company’s Articles of Association and the LuSE Code of Corporate Governance.
