CEC Chairman: Hanson Sindowe

We are sure that some of the challenges experienced in 2015, such as the energy situation in Zambia, will linger for a while still but we have every confidence that CEC Plc will continue to be robust in 2016 and beyond. With a safe and reliable network; innovative solutions to the challenges faced; a management team focused on increasing and delivering value; as well as a dedicated and knowledgeable workforce, I have no doubt that the Company’s operational and financial performance can only get stronger as projects in the works conclude and start contributing to the bottom line. Identifying and seizing opportunities will continue to be a stand-out factor for business growth going forward.

The recent affirmations of the policy and regulatory framework by both the Federal Government and the regulator, give us the confidence that all stakeholders in the Nigerian power sector are desirous of a properly functional, successful and sustainable power industry. We look forward to 2016 with great anticipation in view of the tariff approvals and adjustments taking place effective 1 February 2016. The business in Nigeria will continue to be resilient and begin to turn around and post the kind of performance that shareholders would look forward to.

The Group will continue to pursue viable projects in the Sub-Saharan African power space and we expect to make significant progress with respect to the 128MW CECA Sierra Leone thermal power project within 2016.

2015 annual report

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