Maputo — Hidroelectrica de Cahora Bassa (HCB), the company that operates the Cahora Bassa dam on the Zambezi River, in the western Mozambican province of Tete, achieved, over the last nine months, a net profit of 12.9 billion meticais (201.8 million dollars at the current exchange rate).

According to a company statement sent to the Mozambique Stock Exchange, cited by the Portuguese News Agency LUSA, the amount corresponds to a growth of 13.4 per cent, and contrasts with the net profit of 13.039 billion meticais recorded between January and September 2023.

The company states that its balance sheet, along with liquidity and solvency indicators, "demonstrates financial stability in the short, medium, and long term. The 8.2 per cent increase in equity to 97.793 billion meticais was influenced by the growth in retained earnings, while the 2.3 per cent rise in total liabilities, amounting to 3.312 billion meticais, is primarily due to the value of dividends owed to the Portuguese shareholder Redes Energéticas Nacionais (REN), which had not been paid as of 30 September.'

The Mozambican state holds 90 percent of Cahora Bassa's share capital, following its transfer to Mozambique as part of an agreement with Portugal in 2007. The Portuguese company REN owns a 7.5 per cent stake, while the publicly-owned Mozambican electricity company, EDM, holds 2.5 per cent.

The Cahora Bassa reservoir is the fourth largest in Africa, with a maximum length of 270 kilometres and a width of 30 kilometres, covering 2,700 square kilometres with an average depth of 26 metres. The facility employs nearly 800 workers.