Ruaha River Power Company Announces Appointment of New Directors

By: Ruaha Power Company Limited
DAR ES SALAAM, Tanzania - June 30, 2015 - PRLog -- Ruaha River Power Company Limited announced today that Antony Butler and Mike Bess have been appointed to serve on the Company’s Board of Directors.

Mr. Butler is an Oxford graduate and a Fellow Chartered Accountant.  He has extensive experience in the financial services industry having served as Regional Director for Central and East Africa for Citibank in Nairobi, as deputy CEO for the Saudi British Bank in Riyadh and the Bank of Bahrain & Kuwait in Bahrain, and as Group Managing Director at Ecobank Lome, Togo.  In Asia he served as CEO of Bridge Security Co (Seoul).  The past several years he has focused on projects in the mining industry, serving as Chairman of Consolidated Africa Mining and as a non-executive director at Rusina Mining (Australia) and Nusantara Energy (Indonesia).

Mr. Bess is a seasoned renewable energy industry professional with over 35 years of global experience in energy and climate change policy, renewable energy project development and finance, and climate change finance. He is a Fellow of the Royal Society of Arts (RSA) and a non-executive director on several community energy and renewable energy cooperatives and companies. He has worked on 5 continents and in 75 countries.  He holds a BA from Beloit College, USA and an MPA from the Woodrow Wilson School, Princeton University.  He was also a Fellow at the University of Khartoum and at the American University of Cairo.  He worked with the Overseas Private Investment Corporation (“OPIC”),  served as Country Director in Sudan setting up the National Energy Agency & the Sudan Renewable Energy Agency,  and was Deputy Regional Director for Energy Initiatives Africa, East and Southern Africa.  He founded Bess Associates, Ltd. (Nairobi), and was a co-founder of Energy for Sustainable Development Ltd (ESD) and Camco International, where he served as International Director, Managing Director for North America, Head of the Policy and Strategy Division, and Managing Director for Africa. He is now an Independent Consultant having had assignments with Dfid, NORAD, Sida, the World Bank, USTDA, and the European Commission.

Ruaha Power’s CFO John Tate commented on the appointments, “We are moving into the launch phase of our rural mini-grid initiatives, the feasibility studies for our hydropower projects are progressing, and we have a couple solar pv projects on the drawing board.  To keep pace with the accelerating trajectory of our business model we needed to strengthen our team.  I have known Tony for several years, his enthusiasm for Africa coupled with his global financial services background and perspective will help the Board as we implement our expansion plans.  Mike has been a rural community renewable energy champion for most of his career, he brings a level of depth, breadth, and scope to the Board which is essential as we expand the Ruaha Power footprint in Tanzania.  Both gentlemen share the Ruaha Power vision of bringing reliable, renewable energy solutions to 1 million rural customers, one village at a time.  I welcome them to the Board and look forward to working with them.”

This press release contains statements which constitute forward-looking statements within the meaning of the US securities laws. and may be (but are not necessarily) identified by the use of phrases such as “will”, “expect”, “anticipate”, “believe” and “envisage”.  By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside Ruaha Power’s control. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including levels of demand and market prices, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation and other factors over which Ruaha Power has limited control.

John Tate

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