Africa-Press – Mozambique. Hidroeléctrica de Cahora Bassa (HCB), the company that operates the Cahora Bassa dam, on the Zambezi River in the central province of Tete, has contributed two billion dollars to the Mozambican state coffers from 2007 to 2025.
HCB is 85 percent owned by the state-owned Zambezi Electric Company and 7.5 percent by the Portuguese company Redes Energéticas Nacionais (REN). The company holds 3.5 percent of its own shares, while the remaining 4 percent are held by Mozambican citizens, companies, and institutions.
HCB, which guarantees over 80 percent of the electricity consumed in Mozambique and supplies neighbouring countries, was reverted to the Mozambican state in 2007, marking the beginning of greater national control over energy resources.
The Cahora Bassa dam is the fourth largest in Africa, with a maximum length of 270 kilometers and a width of 30 kilometers (occupying 2,700 square kilometers), and an average depth of 26 meters. It employs about 800 workers and is one of the largest electricity producers in the southern African region.
According to the President, HCB is not only as an infrastructure, but a symbol of sovereignty, determination, a symbol that Mozambique decided to conquer.
“There is no complete independence without control of strategic resources. The reversion of Cahora Bassa is a living part of our sovereignty and continues to be our compass on the path to economic independence, and it is simple: without energy there is no development”, he said.
“Cahora Bassa is not just a dam, it is a promise made to the people, a promise made to the future and to our beloved homeland Mozambique”, he added.
On the occasion, Chapo also called for reforms to the country’s energy sales model, adapting it to international best practices and considering the real value of energy resources in “hard currency” to ensure the protection of national interests.
“We must adjust the energy trading model to international best practices and make it an instrument to protect the national interest. Mozambican energy sales model should not only consider nominal tariffs, but also their real value in hard currency, to mitigate the impact of currency depreciation and bring Mozambique closer to commercial practices aligned with mature markets internationally”, he said.
The President challenged the company’s managers to develop the Zambezi River’s energy cascades to ensure greater efficiency in water storage and increased energy production.
“Properly integrate the Cahora Bassa Hydroelectric Plant into the legal and institutional framework of the energy sector in Mozambique. This company is the heart of Mozambican energy, it is our most powerful asset in the energy sector, without a doubt”, he said.
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