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Kibo Mining comments on Tanzania’s pledge to support private sector

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World Coal,

Kibo Mining plc, the multi-asset Tanzania focused energy and resource company, notes recent comment in the press regarding the Tanzanian President’s pledge to support the private sector at the 11th Tanzania National Business Council (TNBC) meeting at the State House.

At the TNBC meeting, President Magufuli highlighted his wish for the Government to work on a new, closer and mutually beneficial engagement with the private sector saying: “Business people are our most important stakeholders; they provide the Government with much-needed revenue.”

Furthermore, the intermittent power supply in the country was a key issue mentioned at the TNBC meeting. President Magufuli assured the audience that the Government was working on its concerns and that an agreement with a new contractor was expected to be signed soon.

Louis Cotzee, CEO of Kibo Mining, said: “It is heartening to see the winds of change blowing from Tanzania. This is a very clear and powerful signal that the country is open to business and keen to create an environment where companies can thrive. We are looking forward to making further strides with our nationally important flagship Mbeya coal to power project, which aims to alleviate the acute power deficiency in the country and hope to sign the power purchase agreement shortly.”

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