Mozambique: EDM’s turnover rises 21.5 pct in 2007

12 February 2009

Maputo, Mozambique, 12 Feb – Mozambican state electricity company, EDM in 2007 saw a rise in turnover of 21.5 percent year on year, Macauhub has learned from a company source.

The EDM source said that the company could grow even more due to the increasing availability of electricity following a change in the shareholder structure of the Cahora Bassa Hydroelectric Dam (HCB), with Mozambique taking over from Portugal as the principal shareholder.

After that change, HCB and the Mozambican government signed a deal through which the electricity company provided Mozambique with 100 megawatts of electricity.

The eleectricity company was recently ranked fifth in a survey of Mozambique’s biggest companies carried out by KPMG. Mozambique Aluminium Smelter (Mozal) was ranked as Mozambique’s biggest firm. (macauhub)