Maputo, May 3, 2026 (Lusa) – Hidroelétrica de Cahora Bassa (HCB), located in central Mozambique and one of Africa's largest dams, recorded profits of €95.5 million in 2025 despite facing "one of the most severe droughts" in the region, according to Sunday's announcement.
The company accounts, approved at a general meeting on 30 April, show that the dam produced 10,921 Gigawatt-hours (GWh) of electricity in 2025.
This figure represents a sharp decline (-30%) compared to 2024, yet it ensured "the energy security of the country and the region, even amidst a hydrological crisis."
The company justified the results, citing a "context marked by one of the most severe droughts in recent decades in the Zambezi basin, which restricted the reservoir's storage levels and, consequently, the energy production plan."
Even in this scenario, HCB "ensured the fulfilment of its commercial commitments in the national market and the Southern African region." The company maintained power supplies to Eletricidade de Moçambique (EDM), South Africa's Eskom, the Zimbabwe Electricity Supply Authority (ZESA), and the Southern Africa Power Pool (SAPP) markets.
Through these actions, the company guaranteed "energy security for the country and the region in the context of hydrological restrictions."
HCB is 85% owned by the state-owned Companhia Elétrica do Zambeze and 7.5% by the Portuguese company Redes Energéticas Nacionais (REN). The company holds 3.5% in treasury shares, while the remaining 4% is held by Mozambican citizens, companies, and institutions.
The Cahora Bassa reservoir is the fourth-largest in Africa, measuring 270 kilometres in length and 30 kilometres across at its widest point. It covers 2,700 square kilometres with an average depth of 26 metres.
The dam employs nearly 800 workers and stands as one of the largest electricity producers in the Southern African region, supplying neighbouring countries.
In 2025, HCB achieved revenues of approximately $344 million (€293.2 million) and a net profit of $112 million (€95.5 million). It stated that these figures reflect "prudent management of water and financial resources."
"In 2025, the company contributed about $300 million [€255.7 million] to the Mozambican State through taxes, fees, and dividends," said HCB Chair Tomás Matola, quoted in the report. He added that this contribution strengthens the firm’s role as a strategic asset for the national economy and the country's energy stability.
He said that HCB's energy exports continued to play a significant role in generating foreign currency, contributing to the robustness of the country's balance of payments.
In 2024, HCB recorded profits of 14.1 billion meticais (€195.7 million), representing a growth of nearly 8.5% compared to 2023. At the time, the company announced this as the "largest in its history", resulting from the combined effect of a total production of 15,753.52 GWh last year and the adjustment of energy sales tariffs to foreign markets.
PVJ/RYOL // ADB.
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