CECA | Management report to the Annual General Meeting

By Published On: June 4th, 2018Categories: Corporate announcement


  • Continuing trend of increasing collections.
  • Aggregate technical, commercial and collection losses statistically flat.
  • Increased energy inflows coupled with a tendency of payments to lag.
  • 3,500 customers responsible for 27% of billed revenue and 40% of collections.
  • Growing market indebtedness due to tariff mismatch resulting in a gross margin loss in most months…

2018 Financial Priorities

  1. Engagement of the various stakeholders in FGN and its agencies on the timeline for the implementation of the PSRP interventions.
  2. Focus on improving cash generation from operations, driven by improvement in performance of underlying subsidiaries.
  3. Mitigation of the currency mismatch between assets and liabilities across the group entities.
  4. Raising of equity at CEC Africa / KANN to optimise the capital structure.
  5. Restructuring of the UBA acquisition facility in order to re-profile the debt repayments to align with the revised business plan.

Related download
2018 Annual General Meeting Management Report.pdf

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