Zambian power utility company Copperbelt Energy Corporation PLC (CEC) has issued a fraudulent investment scheme alert warning.
The cautionary statement comes following the circulation of an investment platform calling itself CEC Investment Zambia (CEC Investment ZM) on social media, claiming to offer returns of up to 300% on investments.
“We wish to inform the public that CEC is not involved and has no affiliation whatsoever with the purported investment platform.
“Members of the public are, therefore, strongly advised not to engage or invest through this platform, as it is likely to be a fraudulent scheme,” said a statement issued by CEC management.
Listed on the Lusaka Securities Exchange (LuSE), the power company said it does not offer or promote investment opportunities or conduct investment services of this nature.
“Members of the public looking to buy shares or invest in CEC Plc should engage a registered broker.”
The company further urged the public to exercise vigilance by disregarding any communication from CEC Investment Zambia (CEC Investment ZM) and reporting suspicious activity to the relevant law enforcement agencies and Zambia Information and Communications Technology Authority (ZICTA).
CEC is a power transmission, generation, distribution, and supply company, as well as an energy infrastructure developer operating in Zambia and the Democratic Republic of Congo.
