Mozambique: State income from dividends up almost 40% in 2024

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Mozambique: State income from dividends up almost 40% in 2024

3:07 CAT | 26 Aug 2024

File photo: Banco de Moçambique

The Mozambican state’s revenue from dividends on shareholdings in companies and property rents rose by 37.8% in the first half of the year, compared to 2023, to 7.77 billion meticais (€109.5 million).

According to the budget execution report from January to June, this performance compares with revenues of 5.640 billion meticais (€79.5 million) in the first half of 2023.

The value of dividends in the first half of this year rose to 4.6% of all state revenues in this period – equivalent to almost 168,899 billion meticais (€2,379 million), compared to 3.8% a year ago.

The Cahora Bassa Hydroelectric Plant paid the most dividends to the Mozambican state from January to June this year, totalling 5.308 billion meticais (€74.7 million), an increase of 45.7% compared to 2023.

In second place is the National Hydrocarbons Company (ENH), with 1.200 billion meticais (€16.9 million), an increase of 571.7%.

In third place is Millennium BIM, a bank controlled by the Portuguese BCP, with 763.9 billion meticais (€10.7 million), up almost 20%.

Also in the first half of this year, revenues from concessions paid to the state grew by 42% year-on-year, yielding 2,890 billion meticais (€40.7 million), 1.7% of all revenue in the first half of the year, according to the report.

Source: Lusa