Portugal has agreed to give up its remaining stake in a giant hydroelectric dam in Mozambique, ending a long-running dispute.
Portugal, the former colonial power, had retained control of the Cahora Bassa dam after Mozambique became independent, but gave up most of its stake five years ago.
The Portuguese Prime Minister, Pedro Passos Coelho, signed the deal on a visit to Mozambique.
The dam is on the Zambezi River.
It is a vital source of electricity for Mozambique, South Africa and Zimbabwe.
There were decades of wrangling between the African country and its former colonial ruler over who should pay for damage to the dam in the war of independence and the subsequent civil war.
The BBC's Alison Roberts, in Lisbon, says the sense of urgency in Portugal to resolve the issue had increased sharply in recent months, as it is under pressure from international lenders to privatise state assets.
She says Portuguese companies are also eager to do business in what is one of the world's fastest-growing economies, at a time when Portugal itself is in deep recession.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
Keynote speakers arrive in Paris for Women of Valour
2 hours -
Prosecutors demand Luis Rubiales World Cup kiss retrial
4 hours -
Ghana won’t sink any further, investors must stay – Ishmael Yamson
5 hours -
Dr. Louisa Satekla pays courtesy call on Haruna Iddrisu to promote oral health education
5 hours -
Coastal Civil Society Forum engages tidal wave victims, calls for urgent gov’t action
5 hours -
ECB apologises for Pope Francis Ashes post joke
5 hours -
Denmark postal service to stop delivering letters
5 hours -
Photos: Mahama visits victims of tidal waves destruction in Volta region
5 hours -
Teen armed with gun overpowered by passengers onboard plane
5 hours -
Ghana Month: From war airbase to global gateway – KIA’s evolution and Ghana’s airline struggle
6 hours -
Rosetta Quaicoe: Preventing future Cholera outbreaks in Takoradi: A public health imperative
6 hours -
Edward Bawa assumes office as Acting Group CEO & MD of GOIL PLC
6 hours -
Ghana’s economy to face greater external stability in 2025; reserves to hit $8.8bn in 2025
6 hours -
Ghana’s current account balance to remain positive at 1.8% in 2025 – Fitch Solutions
6 hours -
Mahama directs Finance Minister to fund Blekusu Sea Defence Phase II
6 hours