R/€ = 19.82 Change: 0.33
R/$ = 18.15 Change: 0.51
Au 1649.65 $/oz Change: 18.60
Pt 739.33 $/oz Change: 2.91
 
 
R/€ = 19.82 Change: 0.33
R/$ = 18.15 Change: 0.51
Au 1649.65 $/oz Change: 18.60
Pt 739.33 $/oz Change: 2.91
 
 
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Kibo puts ‘business continuity programme’ in place amid Covid-19 pandemic

24th March 2020 BY: Simone Liedtke
Writer

Africa-focused Kibo Energy has put a business continuity programme in place to protect its employees while ensuring the safe operation of the company amid the Covid-19 pandemic.

This has resulted in all non-essential travel being cancelled and all employees at head office being asked to work from home.

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Given the number of jurisdictions in which Kibo operates that have each approached the pandemic with different strategies, the company indicated on March 24 that it would continue, where possible, to work with all stakeholders across its portfolio remotely and to keep operations going as normally as possible.

There is currently no material change to the company’s strategy and development plan nor is any such change anticipated at this stage, Kibo noted.

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“The situation in respect of Covid-19 is an evolving one and the board will review the impact on business and provide further updates in due course including in respect of its forward guidance,” CEO Louis Coetzee commented.

He added that the company is currently unable to provide specific updates on each project, but Coetzee did confirm that “at the moment, all Kibo’s projects remain fundamentally sound and healthy”.

Kibo is focused on the development of three thermal coal power projects in Mozambique, Botswana and Tanzania.

Additionally, Kibo is building a portfolio of flexible energy projects in the UK through its 60% owned subsidiary, Mast Energy Developments Limited (MED), which has given Kibo an entry to the UK Reserve Power market.

In time, Kibo intends to introduce the Reserve Power market model to its operations in Africa. 

EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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