Communication - Presse

HCB records net profit of 14 billion meticais

Hidroelectrica de Cahora Bassa (HCB), the company that operates the Cahora Bassa dam, on the Zambezi river in the central Mozambican province of Tete, recorded over the last year a net profit of 14 billion meticais (219.1 million dollars, at the current exchange rate).

According to an HCB statement, cited by Radio Mozambique, this result represents a growth of eight per cent and it is the highest in the history of the company.

According to HCB chairperson Tomás Matola, cited in the document, this figure was achieved mainly as a result of the readjustment of the tariff for selling electricity abroad.

He also said that, during the company’s latest general meeting, shareholders approved the channeling of 6.5 billion meticais to the state as a result of taxes and fees, as well as approving the management report and accounts for last year.

Source: https://clubofmozambique.com/news/mozambique-hcb-records-net-profit-of-14-billion-meticais-aim-280674/