Member Info for aerial

The World Bank Document it as do the Tanzania/Gov Tanesco and African Energy, and the list goes on. Kibo have been invited to add to the Pool, Edenville say:

“The AFR RI-3A Tanzania - Zambia Transmission Interconnector project, which is being part financed by the World Bank, is continuing to move forward and could have positive implications for Edenville's planned coal to power business model. The financing agreement for credit is now in place and the procurement plan is continuing to progress. As previously stated, the Company's long term plan is to provide electricity to this transmission grid once it is completed and we are continuing to work towards this goal. Currently completion is stated as being in 2024”

.@WorldBank announced a $455m loan to the Tanzania-Zambia Transmission Interconnector Project to increase power transmission capacity in Tanzania. #Energy projects like the MCPP will not only benefit from this but also be of key strategic importance in achieving this goal #KIBO

Dated: 29 April 2019
Kibo Energy PLC ('Kibo' or the 'Company')
Update on MCPP
 Kibo Energy PLC, the multi-asset, Africa focused energy company, is pleased to announce that it has received formal notice from the Tanzania Electric Supply Company Limited ('TANESCO') inviting it to develop the Mbeya Coal to Power Project (the 'MCPP' or the 'Project') for the export market and thereby enabling the Company to engage with the African Power Pools regarding off-take agreements. 
 
As per the announcement dated 8 March 2019, the MCPP remains a bankable project, fully developed up to bankable feasibility stage, with a potential generating capacity of 1000MW; multiple opportunities exist for the Project including three distinct markets: utility, export and private off-take. The existing acute undersupply of power within Tanzania and the Southern Africa region, means that there is an urgent demand for electricity and given that Tanzania has a target to deliver approximately 880MW for the export market for the period 2020-2040, the MCPP is perfectly positioned to help meet this demand. 
 
The Company has received confirmation from TANESCO that it can develop the MCPP for the export market. TANESCO has advised the Company that it is currently implementing interconnectors through Zambia, Tanzania and Kenya enabling power trade within the Eastern African Power Pool and Southern African Power Pool member countries. TANESCO has recommended that the Company engage these Power Pools to ensure participation in the high demand export market. Furthermore, the Company also remains engaged with TANESCO, regarding potential energy supply opportunities to the domestic market. 
 

Louis Coetzee, CEO of Kibo Energy, commented, "Our recent correspondence with TANESCO further consolidates our belief that the MCPP continues to have significant economic and strategic importance for the Company, Tanzania and the region. The Project is located close to potential private offtake partners with whom the company has already engaged on their significant offtake requirements and TANESCO's active development of the interconnectors brought into play the clear and definite short-term potential for Kibo to actively participate in the growing power export markets. In addition to engaging potential local private offtake partners, the Company have also initiated contact with the various power pools referred to above.
 
Our recent appointment of Wimmer Financial LLP, to manage the structuring and provision of a project finance corporate credit line facility of up to USD 900 million, will help to secure our debt requirements for all our African energy projects and forms an important part of our adjusted strategic focus for the MCPP.
 
It is also important to note that the initiative referred to above is not subject to any TANESCO tender process / procedure and entirely unrelated and independent from the tender referred to in the RNS of 14 February 2019 and the clarification request mentioned therein.
 
I look forward to updating shareholders with details of our progress on the MCPP power offtake market development and on development progress across our portfolio during this very busy time for the Company."

SonofaGun
I didn’t say Tanzania is dead, what I said was I gave up caring what they do in Tanzania some years back. Any compassion I might have once had for the country has sadly been depleted.

I have three investments in the Rift Valley: Kibo EDL and HE1,......ALTHOUGH once out of Africa I’ll doubtfully be reinvesting. ...Once out I’ll be out out !!

pi
According to the last RNS there is clearly activity! Just not yet the handover, and we have a pretty good idea imho why! (covid-19)..

“The Company continues to work with its strategic partner Infrastructure and Logistics Tanzania Ltd ("ILTL") regarding the proposed handover of operations at Rukwa and will provide shareholders with a further update as soon as a formal handover date has been agreed.

In the interim period, the Company continues to satisfy existing contracts and is pursuing additional contracts with both existing and potential customers.

In addition, the Company has received new East African enquiries regarding power generation capacity and is continuing discussions with the Tanzanian Government regarding a future power plant development at Rukwa”

Firststopthemoon
I’d guess more pi’s that lose money lose it because of their own choices, and not necessarily because of the company/stock they are invested in. You are right, it doesn’t matter how long you have been invested, but my post was really about the lth’s that are invested in Kibo. Those investors should imho be commended, and will hopefully be rewarded.

I get your point, but I don’t think the crossing of fingers really works ;)

SonofaGun
With the greatest respect I gave up caring what they do in Tanzania some years back, my only interest is that Kibo move forward and the SP goes up. I doubt few if any are here any longer for the benefit of Tanzania, although they once might have been. ...

aimhopdyor bwtfdik

Tanzanian President John Magufuli has not been seen in public for almost two weeks, with no official word yet where the man – nicknamed “the bulldozer” – may have parked himself. Unconfirmed media reports in Kenya – and tweets by opposition politicians in Tanzania – suggest it could be a Nairobi hospital, with the famously COVID-denying leader possibly receiving treatment for that very ailment. If that’s the case, then the KiSwahili proverb, mpanda ovyo, hula ovyo – you reap what you sow – is apt. Magufuli has ridiculed the coronavirus threat, refused to release data on infection rates, denounced vaccines, and opposed mask-wearing. Scared of censure, Tanzanian doctors have referred only coyly to the country’s “rising respiratory challenges”. But since the end of February there has been a shift in tone. After months of claiming the virus had been defeated by the power of prayer, Magufuli – a former chemistry professor – called on Tanzanians to mask up. That coincided with a raft of senior politicians struggling with respiratory problems, including the finance minister, Philip Mpango. Meanwhile, the government has warned local media of consequences for “spreading rumours” about the president’s whereabouts – with the latest speculation being that he’s now in India.

13th March 2021
https://www.syriahr.com/en/208639/

Tanzanian President John Magufuli has not been seen in public for almost two weeks, with no official word yet where the man – nicknamed “the bulldozer” – may have parked himself. Unconfirmed media reports in Kenya – and tweets by opposition politicians in Tanzania – suggest it could be a Nairobi hospital, with the famously COVID-denying leader possibly receiving treatment for that very ailment. If that’s the case, then the KiSwahili proverb, mpanda ovyo, hula ovyo – you reap what you sow – is apt. Magufuli has ridiculed the coronavirus threat, refused to release data on infection rates, denounced vaccines, and opposed mask-wearing. Scared of censure, Tanzanian doctors have referred only coyly to the country’s “rising respiratory challenges”. But since the end of February there has been a shift in tone. After months of claiming the virus had been defeated by the power of prayer, Magufuli – a former chemistry professor – called on Tanzanians to mask up. That coincided with a raft of senior politicians struggling with respiratory problems, including the finance minister, Philip Mpango. Meanwhile, the government has warned local media of consequences for “spreading rumours” about the president’s whereabouts – with the latest speculation being that he’s now in India.

13th March 2021
https://www.syriahr.com/en/208639/

Many that we know here will make “huge (possible once in a lifetime) profits” once in excess of 1p or 2p.

Anybody that thinks this won’t make 1p or 2p is deluded!

If anybody deserves a result it’s the long suffering holders that have ploughed their faith and hard earned into this stock over the last 8 or 9 years ! It would have been sooo easy to sell out !!

aimhopdyor bwtfdik

Very nice!

30 to 32,....mid 31 flat, ignore the UT

All over the news atm

https://www.independent.co.uk/climate-change/news/cumbria-coal-mine-government-climate-b1816046.html

Lol

. ...

Sausage my post was about your ignorance!

beggars belief pmsl

It took a month to complete, so a protected trade

Every little helps!!