The share prices of Kibo Energy and Edenville Energy took a knock on Thursday after the companies announced that they had not qualified to participate in the next stage of a bidding process by the Tanzania Electricity Supply Company (Tanesco) to develop coal power projects with a total capacity of 600 MW.
Aim- and AltX-listed Kibo’s share price on the LSE fell by 47.76% on the news, while its share price on the JSE fell by 31.58%.