(Ecofin Agency) - Cahora Bassa Hydroelectric Dam (HCB), in Mozambique, launched a public tender to sell 7.5% of its share.

The process which will be conducted through the Mozambique Stock Exchange (BVM) aims at hiring a financial intermediary. The latter will be in charge of the organization, registration, authorization, publication, launch, and execution of the HCB shares’ public sale offer.

“The process of selling 7.5% of HCB’s shares through BVM will contribute to the promotion of the economic inclusion of Mozambicans as well as to the consolidation of the credibility of the Hydroelectric plant with the main national and international partners, notably financial institutions, as it demonstrates the company’s compliance with internationally accepted good practices of corporate governance and permanent public scrutiny,” HCB said in a statement.

Gwladys Johnson Akinocho