Hidroeléctrica de Cahora Bassa (HCB), the entity that operates the Cahora Bassa dam on the Zambezi River in Tete province, central Mozambique, was the company that paid the most dividends to the state in 2023.

According to the balance sheet report of the Economic and Social Plan and State Budget (PESOE), HCB paid dividends of around 4.6 billion meticais, a contribution that represents 50 per cent of all payments made by the State Business Sector (SEE).

According to the document, also on the list of top payers are the companies Portos e Caminhos-de-Ferro de Moçambique (CFM) with 1.3 billion meticais, Companhia do Pipeline Moçambique-Zimbabué (CPMZ) with 1.2 billion and Empresa Nacional de Hidrocarbonetos (ENH) with 577 million meticais.

“Another indicator that demonstrates HCB’s robustness is concession revenue, which was the company that contributed the most significant amount, i.e. it paid 2.3 billion meticais, an increase of 37 per cent compared to 2022,” the report pointed out.

“This payment represents 44 per cent of total concession revenue,” it concluded.