CEC Chairman: Hanson Sindowe
Focus for the Group in the near term is to progress the turnaround strategies of the Nigerian assets. In addition, the Company will facilitate the drawdown of the $30 million (amount undrawn on the $120 million senior debt facility), subject to ongoing compliance with the conditions of the facility. These funds are targeted for investment in on-going projects in Zambia and organic growth projects in CEC Plc.
In addition to its current investments in Nigeria, CEC Africa is working closely with NamPower to develop the Kudu gas-to-power project that is expected to generate in excess of 800MW in Namibia, and with TCQ Power Limited, to develop a 128MW thermal generation project for the Government of Sierra Leone in Freetown. CEC Africa is engaging with potential investors in CEC Africa to secure funding for these new projects.
HY 2014 financial results