Mozambique: Power company Electricidade de Moçambique posts profit in 2007

30 July 2008

Maputo, Mozambique, 30 July – Mozambican electricity company, Electricidade de Moçambique (EDM) posted a profit of 4.4 billion meticais (US$182 million) in 2007, according to information provided Monday by the company to the minister for Planning and Development, Aiuba Cuereneia.

According to Mozambican news agency AIM, in 2006 EDM posted a loss of 70 billion meticais.

At Monday’s meeting with EDM management the minister discussed the company’s focus on meeting government targets for the 2005-2009 period, particularly providing electricity across the country.

The minister was also informed that EDM had made the process of linking customers to the power grid easier as previously 17 procedures were required to sign a contract and this had been reduced to five. (macauhub)