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MEF: State Dividend Revenues Doubled to Almost 5.6B Meticals in H1

MEF: State Dividend Revenues Doubled to Almost 5.6B Meticals in H1

Mozambican state revenue from dividends more than doubled in the first half of the year, compared to the same period in 2022, to almost 5.6 billion meticals.

According to the Ministry of Economy and Finance’s (MEF) economic and social balance of the implementation of the state budget from January to June, quoted by Lusa this Tuesday, 26 September, the weight of the contribution of dividends in the total revenue for this period was 3.8%, compared to 1.7% in the first half of 2022, when it was worth more than 2.2 billion meticais.

As a result, dividend income for the state grew by 153.6 per cent in the first half of the year.

Also in dividend income, Hidroeléctrica de Cahora Bassa, with more than 3.6 billion meticais, and Portos e Caminhos de Ferro de Moçambique, with almost 1.1 billion meticais, contributed 64.6% and 21.0% of the total respectively.

Millennium Banco Internacional de Moçambique (Millennium bim) – 66.68% owned by Portugal’s BCP and 17.12% by the Mozambican state – with almost 640 million meticais, and Companhia Moçambicana de Hidrocarbonetos, with 178.6 million meticais, contributed 11.3% and 3.2% respectively to the Mozambican state’s total revenue from dividends.

Overall, the state’s current revenue grew by 9.8 per cent in the first half of the year, to more than 146.4 billion meticais, driven by the increase in tax collection, which accounted for 45.2 per cent of the total.

From concessions in various sectors, the state collected 2.1 billion meticais, an increase of 13.4 per cent compared to the first half of 2022, which accounted for 1.4 per cent of total revenue.

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