Kenmare Resources urges decision on Mozambique rights renewal
Cahora Bassa reaches agreement with commercial banks
8:31 CAT | 10 Aug 2016
A Bola (File photo) / Cahora Bassa dam
The Cahora Bassa Hydroelectric company (HCB) signed a memorandum of understanding with commercial banks on Wednesday regarding local content development, and particularly access to finance for local suppliers.
The memorandum aims to allow local HCB suppliers, mostly small and medium-sized enterprises, access to credit and cash advances from commercial banks for the provision of goods and services.
According to the memorandum, when orders for works or services are approved, the HCB will inform the banks, stimulating them to finance small and medium enterprises operations.
The signing of the memorandum will take place today in Maputo in the presence of the chairman and members of the board of Cahora Bassa Hydroelectric and senior representatives of Millennium Bim, BCI, Standard Bank, Barclays Bank, One Bank, Moza Banco, BancABC, FNB and BNI.
Source: A Bola
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