The Cahora Bassa Hydroelectric Plant (HCB), in central Mozambique, will distribute 7.4 billion meticais (€102.6 million) in dividends to shareholders from Monday, including Portugal’s Redes Energéticas Nacionais (REN). According to a statement consulted by Lusa, the dividend payout for the 2024 financial year—set at 0.28 meticais (0.4 euro cents) per share was approved during the company’s general meeting on 21 April. Shareholders may begin confirming receipt of dividends from 12 May 2025 at their banking institutions.
HCB is 85% owned by the state-run Companhia Eléctrica do Zambeze, 7.5% by REN, 3.5% by the company itself and 4% by Mozambican citizens, companies and institutions. Situated on the Zambezi River, the Cahora Bassa reservoir is Africa’s fourth-largest, stretching 270 kilometres in length and 30 kilometres in width, covering 2,700 square kilometres at an average depth of 26 metres. The facility employs nearly 800 workers and is one of southern Africa’s key electricity suppliers.
In 2024, HCB reported a record profit of 14.1 billion meticais (€195.7 million), marking an 8.5% increase from the previous year. The company attributes this performance to a strong energy output of 15,753.52 GWh and an adjusted export tariff. Chairman Tomás Matola noted that, despite hydrological challenges, strategic management helped achieve the best financial results in HCB’s history.
The approved dividend represents 52.55% of net profits. The Mozambican state will receive over 6.5 billion meticais (€90.2 million), which, along with taxes and fees, will contribute to the national budget and support social programmes. Construction of the Cahora Bassa dam began in 1969 and concluded in 1974 during Portuguese colonial rule. Commercial operations started in 1977 with an initial output of 960 MW from three generators; the installed capacity has since increased to 2,075 MW.
Two historic milestones marked the transfer of control to Mozambique after independence. The first occurred on 31 October 2006 with the signing of a protocol between Mozambique and Portugal. The second came on 27 November 2007 with the formal completion of the reversion. Then-President Armando Guebuza described it as Mozambique’s “second independence”. To meet growing regional electricity demand, HCB plans to expand with a new facility north of the current dam.
