Maputo, 4 Mar (AIM) – Hidroelectrica de Cahora Bassa (HCB), the company that operates the Cahora Bassa dam on the Zambezi River, in the western Mozambican province of Tete, was the company that paid the most dividends to the state shareholder in 2023.
According to the Balance Sheet of the Economic and Social Plan and State Budget (PESOE), HCB paid dividends of around 4.643 billion meticais (72.6 million dollars, at the current exchange rate).
“The amount of dividends for 2023 represents an increase of 42.5 per cent compared to the previous year. In other words, the cake distributed to the state grew in absolute terms by 1.384 billion meticais in one year”, reads the document.
The document explains that HCB’s contribution makes up half (50 per cent) of the dividends paid by the State Business Sector, ahead of the Port and Rail Company (CFM), with 1.382 billion meticais, as well as ahead of the Mozambique-Zimbabwe Pipeline Company (CPMZ) with 1,25 billion meticais and the National Hydrocarbon Company (ENH) with 577.7 million meticais.
“Another indicator that demonstrates HCB’s robustness is concession revenue, in which it was the company that contributed the most significant amount”, reads the document, adding that “HCB paid 2,324 billion meticais, an increase of 37.8 per cent compared to 2022. It accounts for 44 per cent of total concession revenue, followed by the Maputo Port Development Company (MPDC) – 24 per cent – and the Northern Development Corridor with 9.3 per cent.”
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