Tomás Matola, the head of state investment bank BNI, has been named the new chairman of the Cahora Bassa hydroelectric company, HCB.
HCB is the largest company with public capital in Mozambique, with the State holding 85%; the Portuguese company REN has 7.5%; 4% of the shares in the hands of various national citizens and companies and 3.5% held by HCB itself.
Matola 44, replaces Boavida Mahambe, who has been the company’s Chief Executive since March 2021.
Matola held various management positions in BNI over the last 11 years, and was Chairman of the Executive Committee in the last eight years.
BNI’s latest report and accounts, announced profits of more than 200Million Meticais ($3.13Million) from which it paid the Mozambican State, its shareholder, 60Million Meticais ($0.94Million) in dividends.
The Cahora Bassa Hydroelectric Board of Directors comprises Aida Magaia, Nilton Trindade, Hermínio Chiau and José Munice.
