#Africa - In Other News

Mozambique: HCB elects new board of directors – Lusa

The Cahora Bassa Hydroelectric (HCB), one of the main economic enterprises in Mozambique, has elected a new board of directors for the next three years. The chairman is still to be appointed.

The new board of directors was installed on Tuesday and is made up of four executive directors and two non-executive directors.

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.

A source from HCB  told Lusa that the Government is due to appoint the company’s new chairman of the board in the next few days, while it is not known  whether or not Pedro Conceição Couto will be reappointed.

Before being named chairman  of HCB in 2016, Pedro Couto served as Minister of Mineral Resources and Energy.

Four members of the Board of the Shareholders’ General Meeting and three members of the Fiscal Council were also elected, Also elected, according to a communique.

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

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 investors who have acquired shares in 2018.

Source: Lusa

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