Completion of Second School Support Project

RNS Number : 8903W

Kibo Energy PLC

06 August 2018

 

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	[e-mail]	Kibo Energy PLC	Chief Executive Officer
Andreas Lianos	[phone]	River Group	Corporate and Designated Adviser on JSE
Ben Tadd / Tom Curran	[phone]	SVS Securities Limited	Joint Broker
Jon Belliss	[phone]	Novum Securities Ltd	Joint Broker
Andrew Thomson	[phone]	RFC Ambrian Limited	NOMAD on AIM
Isabel de Salis / Priit Piip	[phone]	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

 

END

 

 

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