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The Zambezi River Authority was established as a body corporate on the first day of October, 1987 by parallel legislation in the Parliaments of Zambia and Zimbabwe following the reconstitution of Central African Power Corporation - under the Zambezi River Authority Acts (Chapters 467 and 20:23 of the Laws of Zambia and Zimbabwe, respectively) and is jointly owned by the governments of Zambia and Zimbabwe in equal proportions.