- Record profits of 225 million dollars are forecast
- By the end of the current rainy season, water levels are expected to recover due to the likelihood of normal rainfall
By Aurélio Muianga
Maputo (MOZTIMES) - Hidroeléctrica de Cahora Bassa (HCB), the company that operates the Cahora Bassa dam on the Zambezi river, estimates that this year it will pay into the coffers of the state 292 million US dollars (about 18.5 billion Meticais), in fees and taxes as a result of its performance in the 2024 economic year, with a forecast record profit of 225 million dollars.
HCB, which is 90% owned by the Mozambican government 7.5% by the Portuguese Redes Energéticas Nacionais and 2.5% by the Mozambican electricity company, EDM, made this forecast in a statement issued on 23 January
The Chairperson of the HCB Board of Directors, Tomas Matola, cited in the statement, stressed that “as a result of this performance, it is estimated that, in 2025, HCB will contribute to the coffers of the State, in taxes and fees (income and profit taxes, VAT and the concession fee) plus dividends, around 292 million US dollars, which is equivalent to about 18.5 billion Meticais".
For Matola, this performance shows the structuring and strategic role of Hidroeléctrica de Cahora Bassa in the development of the country and in improving the living condition of Mozambicans.
In the initial months of 2024, HCB, had already made a net profit of 12.9 billion meticais, an increase of 13.4% in comparison with the same period of 2023.
HCB, located in Songo district, in the central province of Tete, is the largest independent producer of hydropower in southern Africa. In 2024, "it achieved total production of 15,753.52 GWh", in an adverse hydro-climatic context, characterised by a severe drought imposed by the occurrence of the El Niño weather phenomenon, the company says.
The seasonal climate forecast of SARCOF – 29 (Southern Africa Regional Climate Outlook Forum – 29), suggests the possibility of the occurrence of the La Niña phenomenon, by the end of the 2024/2025 rainy season, particularly in the second half (January/February/March) with a high probability of normal rainfall in this region, notably in the Zambezi Basin.
At the end of the first half of the 2024/2025 rainy season, on 31 December 2024, the height of the Cahora Bassa reservoir was 305.20 metres above average sea level, which is equivalent to 21.19% of useful water storage.
The reservoir is the fourth largest in Africa, covering an area of 2,700 square kilometres and with an average depth of 26 metres. HCB employs about 800 workers. As for accidents at work and professional illnesses, Tomás Matola guarantees that “for the first time in the history of the company, no work accidents were recorded". (AM)
