{"id":37908,"date":"2023-04-30T16:14:22","date_gmt":"2023-04-30T16:14:22","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline"},"modified":"2023-04-30T17:27:17","modified_gmt":"2023-04-30T17:27:17","slug":"cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline","title":{"rendered":"Cahora Bassa Hydroelectric reports 2022 profit of 9.2 bln meticais, a 9% decline"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Cahora Bassa Hydroelectric Power Plant (HCB) in Mozambique, the largest in southern Africa, announced on Monday (April 24) that it had closed 2022 with a profit of 9.2 billion meticais ( around US$144 million\/ \u20ac131 million), a decrease of 9% compared to 2021, Lusa reports<\/p>\n

The numbers were published by HCB in Noti\u0301cias, Mozambique\u2019s largest-circulation newspaper, and, despite the fall in relation to the previous year\u2019s profits, the administration has professed itself satisfied with the results.<\/p>\n

In a message accompanying the figures, chairman of the board of directors Boavida Lopes Muhambe observes that the results \u201cdemonstrate that the financial and operating performance indicators continue to present the expected robustness\u201d.<\/p>\n

The result includes a 6% decline in sales, from almost 29 billion meticais to 27.1 billion meticais (from \u20ac413 to \u20ac386 million), and earnings per share dropped from 380 to 350 meticais.<\/p>\n

The message from the president of HCB highlights that \u201cabout 2.7 billion meticais (\u20ac38 million) were channelled to the State in the form of concession fees approximately 5.1 billion meticais (\u20ac73 million) in the form of taxes, and more than 3.7 billion meticais (\u20ac52 million) in dividends were paid to holders of class A and class B shares, amounts above the percentage recommended by the company\u2019s statutes\u201d.<\/p>\n

The Mozambican state owns 85% of HCB, the Portuguese company Redes Energe\u0301ticas Nacionais (REN) owns 7.5%, 4% of the share capital is publicly traded and HCB has 3.5% of its own shares.<\/p>\n

The hydroelectric plant is undergoing a modernization process which implies \u201ca momentary reduction in production rates with impacts on billing\u201d, Muhambe noted.<\/p>\n

\u201cHowever, compliance with energy supply contracts with customers EDM (Mozambique\u2019s state-owned power supply company), Eskom (South Africa\u2019s state-owned power supply company) and ZESA (Zimbabwe\u2019s state-owned power supply company) will be ensured,\u201d he added.<\/p>\n

HCB\u2019s chairman highlighted the gains that will come from the investments underway, which will extend the venture\u2019s useful life by 25 years and increase production capacity (currently 2,075 MW) by five percent.<\/p>\n

In 2022, HCB obtained the support of the African Development Bank (AfDB) and the French Development Agency (AFD), gaining access to financing of up to \u20ac225 million, in a strategy in which \u201cpriority will be given to the equity capital that the company has at its disposal\u201d.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Cahora Bassa Hydroelectric Power Plant (HCB) in Mozambique, the largest in southern Africa, announced on Monday (April 24) that it had closed 2022 with a profit of 9.2 billion meticais ( around US$144 million\/ \u20ac131 million), a decrease of 9% compared to 2021, Lusa reports The numbers were published by HCB […]<\/p>\n","protected":false},"author":84,"featured_media":37907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-37908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nCahora Bassa Hydroelectric reports 2022 profit of 9.2 bln meticais, a 9% decline - Mozambique<\/title>\n<meta name=\"description\" content=\"The Cahora Bassa Hydroelectric Power Plant (HCB) in Mozambique, the largest in southern Africa, announced on Monday (Apr ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cahora Bassa Hydroelectric reports 2022 profit of 9.2 bln meticais, a 9% decline\" \/>\n<meta property=\"og:description\" content=\"The Cahora Bassa Hydroelectric Power Plant (HCB) in Mozambique, the largest in southern Africa, announced on Monday (Apr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-30T16:14:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-30T17:27:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/04\/postQueueImg_1682858901.80.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"825\" \/>\n\t<meta property=\"og:image:height\" content=\"510\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Cahora Bassa Hydroelectric reports 2022 profit of 9.2 bln meticais, a 9% decline\",\"datePublished\":\"2023-04-30T16:14:22+00:00\",\"dateModified\":\"2023-04-30T17:27:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline\"},\"wordCount\":379,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/04\/postQueueImg_1682858901.80.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/cahora-bassa-hydroelectric-reports-2022-profit-of-9-2-bln-meticais-a-9-decline\",\"name\":\"Cahora Bassa Hydroelectric reports 2022 profit of 9.2 bln meticais, a 9% decline - 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