Mozambique: HCB contributed 3.6 billion Mozambican Metical to state coffers in the last six months
Hidroeléctrica de Cahora Bassa (HCB), the publicly traded company that operates the Cahora Bassa dam on the Zambezi river in the Tete province of Western Mozambique, is transferred to state coffers between January and June 2023. It contributed 3.6 billion meticais ($51.1 million at the current exchange rate) in dividends. According to figures included in the Economic and Social Plan and State Budget Balance (the government's semi-annual report) for the first half of 2023, the contribution from HCB is by far the most significant, accounting for 64.6 percent of total dividends paid in the period under review.
After HCB, Company of Ports and Railway, CFM comes, amounting to approximately 1.2 billion Mozambican meticals, which is 21 percent of the total dividends paid by companies wholly or partially owned by the Mozambican state.
In third place is Banco Internacional de Moçambique (BIM), whose contribution of 636.9 million Meticais represents 11.3 percent of the total dividends.
In fourth place, The Mozambique Hydrocarbon Company (CMH) contributed 3.2 percent of the total dividends, which amounting 178.6 million Meticais, paid to the state in the first half of the year.
In the first half of the year, total dividend income amounted to 5.6 billion Meticais, which was an increase of 153.6 percent compared to the first half of 2022, when the amount in dividends paid by companies owned or participated by the state was 2.2 billion Meticais.
Dividends represent 3.8 percent of the total revenue collected by the government in the first half of 2023, reaching 146.7 billion Meticais, compared to 133.8 billion Meticais in the same period in 2022.
