Last checked at 6 Aug 2018 07:02
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
("Kibo" or "the Company")
Dated: 6 August 2018
Kibo Energy PLC ('Kibo' or the 'Company')
Completion of Second School Support Project
Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused, energy company, is pleased to announce that it has completed the second phase of the school building and upgrade programme at the villages of Mheza and Namkukwe. The project is part of an ongoing programme between Kibo and the towns of Mheza and Namkukwe, located directly North East of the Mbeya Coal to Power Project ("MCPP") in the Songwe Region in South Western Tanzania, to extend and refurbish the local schools in the respective towns. The first phase of the project, consisting of building two new classrooms, was completed and officially opened on 3 March 2017 as reported by RNS on 6 March 2017.
In the second phase of the project, Kibo committed to completely rebuilding a school facility in Mheza, after a rainstorm destroyed a school building containing two classrooms and teachers' offices. Concurrently, a new classroom was added to the neighboring Namkukwe school. The construction work was jointly undertaken by Kibo and the villagers of Mheza and Namkukwe.
Completion of the two phases has so far added a total of five new classrooms and one teacher's facility to the two schools.
Louis Coetzee, CEO of Kibo Energy, said: "Mheza and Namkukwe are very close to our hearts - Kibo's home has been in Tanzania for many years now and we are pleased that we can work with the local communities furthering ongoing development and improvement in the local region.
"It is our hope that the MCPP will provide many direct and indirect job opportunities in the region during its construction and later during production. We'll be operating in the region for years to come and are very much committed to the development of high quality education infrastructure in order to strengthen both regional and national development."
**ENDS**
For further information please visit www.kibomining.com or contact:
Louis Coetzee | info@kibomining.com | Kibo Energy PLC | Chief Executive Officer |
Andreas Lianos | +27 (0) 83 4408365 | River Group | Corporate and Designated Adviser on JSE |
Ben Tadd / Tom Curran | +44 (0) 20 3700 0093 | SVS Securities Limited | Joint Broker |
Jon Belliss | +44 (0) 20 7399 9400 | Novum Securities Ltd | Joint Broker |
Andrew Thomson | +61 8 9480 2500 | RFC Ambrian Limited | NOMAD on AIM |
Isabel de Salis / Priit Piip | +44 (0) 20 7236 1177 | St Brides Partners Ltd | Investor and Media Relations Adviser |
Notes to editors
Kibo Energy PLC is a multi-asset, Africa focussed, energy company positioned to address the acute power deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end, it is the Company's objective to become a leading independent power producer in the region.
Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project ('MCPP') in Tanzania; the Mabesekwa Coal Independent Power Project ('MCIPP') in Botswana; and the Benga Independent Power Project ('BIPP') in Mozambique. By developing these projects in parallel, the Company intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement, equipment, human capital, execution capability / capacity and project finance. Additionally, the Company will benefit from its robust and experienced international blue-chip partnership network across its project portfolio, which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa); and Hogan Lovells International LLP.
Johannesburg
6 August 2018
Corporate and Designated Adviser
River Group