- Hidroeléctrica de Cahora Bassa (HCB), a major producer and exporter of hydro energy in Mozambique has reshuffled its board of directors for the next three year period.
- The new board of directors was installed on Tuesday this week and is made up of four executive directors and two non-executive directors.
- A new chairman is yet to be appointed.
The new board’s executive directors are Moisés Machava, Abraão dos Santos Rafael, Rui Manuel Alfredo da Rocha and Nilton Sérgio Rebelo Trindade.
The non-executive directors are Manuel Tomé, former secretary-general of the Mozambican Liberation Front (Frelimo), the ruling party, and João Faria Conceição.
The board is now composed by six members, two less than the outgoing one.
Four members of the Board of the Shareholders’ General Meeting and three members of the Fiscal Council were also elected, according to the HCB communique.
Related news: Demand for HCB shares oversubscribed
Hidroelectrica de Cabora Bassa (HCB), the company which operates the Cabora Bassa dam on the Zambezi in the western Mozambican province of Tete, is one of the major power suppliers in the region. Their power generation output was up 4.7% in 2020. Read more
The Mozambican state owns 85% of HCB’s shares, 7.5% are owned by Portuguese company REN (National Energy Networks) and another 7.5% by several private investors.
Author: Bryan Groenendaal