Hidroeléctrica de Cahora Bassa (HCB), one of the largest independent power producers in southern Africa, was honoured as the ‘largest exporter to SADC’ by the Ministry of Industry and Trade.
The distinction was awarded during the opening ceremony of the 59th edition of the Maputo International Fair (FACIM), held on Monday (26) and presided over by Mozambican President Filipe Nyusi, who emphasised the importance of this recognition for the country’s economic development.
According to a statement issued by HCB, the award has a ‘very important symbolism for the board of directors and the employees’, representing recognition of the ‘strategic and structuring role that the company plays in Mozambique’s economy’, and ‘greatly encourages us’ to continue our efforts in the production and export of energy.
According to the information, the data presented by HCB indicates that the company generated annual revenues of around 36.3 billion meticals (500 million dollars) in 2023. In the first half of 2024, revenues totalled approximately 21.8 billion meticals (300 million dollars), which, according to the company, ‘will certainly influence the level of our contribution in taxes, fees and dividends to Mozambique, which have been among the highest in the state business sector’.
In the first half of 2024, revenues totalled approximately 21.8 billion meticals (300 million dollars), which, according to the company, ‘will certainly influence the level of our contribution in taxes, fees and dividends to Mozambique, which have been among the highest in the state business sector’
HCB also emphasised its crucial role in attracting foreign currency to Mozambique, positioning itself as ‘a key player in the stability of the country’s balance of payments’.
The statement also said that the company is preparing its strategic plan for the 2025-2034 period, with a focus on ‘diversification, expansion and growth of its production capacities to 4,000 MW’, with the aim of consolidating its position in the energy sector and contributing to transforming Mozambique ‘into a regional energy hub’.
The 59th edition of FACIM, which runs from 26 August to 1 September, has the motto ‘Industrialisation: Innovation and Diversification of the National Economy’. HCB is taking part in the event with stands in two different pavilions: one in the state business sector and the other in the Ministry of Mineral Resources and Energy, reinforcing its presence and importance in Mozambique’s business and economic context.
This recognition at FACIM 2024 underlines the strategic importance of Hidroeléctrica de Cahora Bassa for the Mozambican economy and the SADC region, reinforcing its role as one of the country’s main pillars of energy export and development.
