CEC joins a growing and impressive group of internationally recognised public companies that have embraced theIRapp mobile communications platform and is one of the first subscribers in Africa to do so. Founder and CEO of theIRapp, Jeff Corbin, commented that CEC’s management team has taken a pioneering role in not only recognising the importance of mobile technology to their communication with investors, but by also increasing transparency in terms of effective investor information.
“The one thing that pretty much everyone around the world has in common is their mobile device and this is certainly the case when it comes to professional investors,” said Corbin. “CEC joins international conglomerates like Colgate-Palmolive, TIM Brazil, DEXUS Property Group in Australia, Royal DSM in the Netherlands and Marathon Oil, that have incorporated mobile technology as a strategy to communicate with and deliver information to their investors,” he said.
“Regardless of where the investor is in the world and even if they are not behind a desk, they are now able to receive information such as breaking news, presentations, stock data, video and regulatory filings instantaneously and directly to their very personal mobile device,” he added.
CEC, which is listed on the Lusaka Stock Exchange (LuSE), has a common law responsibility to its shareholders to ensure that firstly its shareholders are able to trade their shares and secondly that investors can get a fair price for their shares.
“Getting a fair price means ensuring that investors can get and do get all of the information they need to make an informed decision”, said Ms Nsabika Kalima. “If we can’t reach that investor then they don’t know what we are up to and would be uncertain about the Group’s activities. Uncertainty is associated with risk, which in turn contributes to a lower share price,” she added.
Good corporate governance is about keeping shareholders informed by whatever means, as efficiently as possible and CEC is now able to augment its existing communications channels with the addition of theIRapp.
The CEC IRapp is available to anyone with a modern mobile phone, but is targeted initially at institutional shareholders. CEC is well placed to continue rolling out successful projects in Africa and build long term relationships with its investors. There is enormous investment potential in Africa and, with the app, the Group is able to showcase its credibility and keep investors well-informed.
From CEC’s perspective, the convenience of mobile technology cannot be over-stated. “I think from CEC’s perspective it’s about visibility and we ensure that when we release a corporate action or news item, it is pushed to the mobile device of the investor or person that’s interested in us. It’s there in their face and they can choose to ignore the information, or act on it, but at least it is there ahead of other companies,” said Nsabika Kalima.
Nsabika Kalima added that CEC has adopted a policy of using all available channels to communicate corporate and investor information, including a comprehensive website, Google +, email alerts, as well as social media, including Twitter and Facebook and now a mobile App.
“Because the communities that we affect are so diverse, from UK based multi-million dollar institutional investors down to people in rural settings, we really want to promote being available to all of them through any means possible,” she said.
The majority of CEC’s website traffic is from outside Zambia, around 60 per cent, with the leading countries being the United Kingdom, United States and South Africa – countries where the majority of website visitors are visiting from mobile. Hence, having a mobile app complements CEC’s rounded approach that, it is hoped, conforms to the best practices of international companies.
Nsabika-Kalima observed that being a capital intensive business, CEC invests for the long term. It is, therefore, important for investors to be able to see the bigger picture of the company’s longer term strategy when they invest in a company such as CEC. Hence, regular communication on the activities of the business helps shareholders better understand what it is about. The app is important to shareholders in delivering appropriate and up-to-the-minute information.
CEC is involved in a number of significant power projects across Africa, which are actively being rolled out. In many instances these projects have significant economic and social impact and the company is committed to keeping the communities that are impacted by its activities, connected and updated with progress. CEC’s key stakeholders are not only investors, but also include power sector regulators, customers and the wider community.
For further information, contact CEC Senior Manager Corporate Communication, Chama S Nsabika Kalima: firstname.lastname@example.org