Mozambique: State’s dividend income increases to 120 million euros

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Mozambique: State’s dividend income increases to 120 million euros

3:26 CAT | 18 Nov 2024

File photo: TVM

Mozambican state revenues from dividends from company shares and property rentals increased by September to 8.094 billion meticais (€120.1 million), according to government data consulted by Lusa on Monday.

According to budget execution data from January to September, these dividends represented 3.1% of the total revenue of the Mozambican state in this period, which stood at almost 262,367 million meticais (€3,894 million), an increase of 12.8% compared to the total for the first three quarters of 2023.

The Mozambican state’s income from dividends from shareholdings in companies and from property rentals had already increased by 37.8% in the first half of the year, compared to 2023, to 7,774 million meticais (€115.3 million), then accounting for 4.6% of all revenue.

The Cahora Bassa Hydroelectric Plant paid the most dividends to the Mozambican state from January to September this year, totalling more than 5,308 million meticais (€78.8 million), but unchanged compared to the second quarter, according to the document.

In second place comes the National Hydrocarbons Company (ENH), with 1.2 billion meticais (€17.8 million). Following are: Millennium BIM, a bank controlled by the Portuguese BCP and owned by the Mozambican state, with 763.9 million meticais (€11.3 million); the Mozambique-Zimbabwe Pipeline Company, with 499.8 million meticais (€7.4 million); and state-owned Ports and Railways of Mozambique (CFM), with 250 million meticais (€3.7 million).

Also in the first nine months of this year, state revenues from concessions grew by 57.7% year-on-year, yielding more than 3.931 billion meticais (€58.3 million), accounting for 1.5% of all of state revenues, according to the same report.

Cahora Bassa Hydroelectric Plant also paid the most to the state for concessions in this period, an amount that grew to more than 2,061 million meticais (€30.6 million), 52.4% of the total.

READ: Mozambique: State revenue from concessions falls in Q1

Source: Lusa