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1、 African Energy Limited ABN 63 650 431 226 ACN 650 431 226 Annual Report 2023 AFRICAN ENERGY LIMITED Directors report 30 June 2023 2|P a g e The directors present their report,together with the financial statements,on the consolidated entity(referred to hereafter as the Consolidated Entity)consistin
2、g of African Energy Limited(referred to hereafter as the Company or Parent Entity)and the entities it controlled at the end of,or during,the year ended 30 June 2023(“Year”).Directors The following persons were directors of African Energy Limited during the whole of the year and up to the date of thi
3、s report,unless otherwise stated:Alasdair Cooke Charles(Frazer)Tabeart Valentine Chitalu Daniel Davis Principal activities The principal activity of the Consolidated Entity during the year was the development of power projects in southern Africa.Dividends No dividends have been paid or declared duri
4、ng the year.Review of operations In the last 15-months,the power shortages in southern Africa have worsened significantly.In Zambia the water levels at Lake Kariba early this year were at the lowest levels seen in over 20-years,causing restrictions in hydro power generation.In South Africa a further
5、 deterioration in Eskoms coal-fired fleet availability has resulted in widespread and persistent load shedding.In Botswana ongoing problems with the Morupule power plant has resulted in regular load shedding.The generation problems in the major power producers have caused severe power disruptions ac
6、ross the southern African region with blackouts and widespread load shedding on a regular basis in many countries.This regional power crisis,which in February was declared as a State of Disaster in South Africa,is driving strong interest in the Sese Project.Sese is one of very few fully permitted,la