AfrElec: Kibo Energy disposes of Botswana coal interest via sale to Shumba Energy

Kibo Energy, a renewable energy-focused development company listed on the AIM and AltX, has agreed to dispose of its coal interest in a Botswana coal-based power project, having entered into a definitive share sale agreement with Shumba Energy.

Together with its subsidiaries, Kibo explores for and develops energy projects in Sub-Saharan Africa and the United Kingdom.

Shumba Energy is a Botswana-based, locally-owned coal and energy development company listed on the Botswana Stock Exchange (BSE) and the Stock Exchange of Mauritius (SEM).

The agreement concerns the sale of Kibo’s remaining 35% equity holding in Kibo Energy Botswana in which Kibo held its interest in the coal resources associated with the project, the group said in a statement, noting its declared strategy to divest of all its hydrocarbon and coal-based assets.

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