KIBO ENERGY PLC - Update on MCPP in Tanzania

Update on MCPP in Tanzania

 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: 18 September 2018


                                Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                                        Update on MCPP in Tanzania


 Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused, energy company, notes the
 announcement by the Tanzania Electricity Supply Company (“TANESCO”) regarding the development of
 Independent Power Projects in Tanzania and the initiation of a tender process for superior coal technology and
 integrated gasification combined cycle power plants.


 The Company intends to review the Invitation for Qualification that was released by TANESCO today and work
 with its advisers and all Tanzanian stakeholders, including government-related and our international blue-chip
 partnership network to assess the potential impact on the Company’s development plans for the Mbeya Coal to
 Power Project (‘MCPP’) of this opportunity to tender. The Company will also seek clarification whether the
 tender process announced today will have any impact / effect on its ongoing PPA negotiations with TANESCO
 in respect of the Company’s MCPP in the Songwe district in South Western Tanzania.


 The Company is continuing work on the MCPP, to ensure an expeditious and successful conclusion of the
 MCPP, leveraging the Company’s optimum position to realize the country’s first advanced coal to power
 project. The network includes SEPCO III (China), one of the world’s largest power EPC contractors, General
 Electric (USA), Tractebel Engineering (Belgium), Minxcon Consulting (South Africa), ABSA/ Barclays Africa)
 and Hogan Lovells International LLP.


 Louis Coetzee, CEO of Kibo, said: “We have been working in Tanzania for a number of years and have made
 significant progress in the development of the MCPP. Our initial assessment of this latest tender process seems
 to indicate additional opportunity to expand the Company’s participation in the development of the Tanzania
 energy sector and we will now urgently consult with our partners to ascertain the best course of action”


                                              **ENDS**


This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no.
596/2014 ("MAR").
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 /                +44 (0) 20 3700 0093       SVS Securities Limited      Joint Broker
 Tom Curran
 Jon Belliss               +44 (0) 20 7399 9400       Novum Securities Ltd        Joint Broker

 Andrew Thomson            +61 8 9480 2500            RFC Ambrian Limited         NOMAD on AIM

 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
18 September 2018
Corporate and Designated Adviser
River Group

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