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</o:shapelayout></xml><![endif]--></head><body lang=EN-ZW link="#0563C1" vlink="#954F72"><div class=WordSection1><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=916 style='width:687.2pt;border-collapse:collapse'><tr><td width=910 colspan=4 valign=top style='width:682.8pt;padding:0cm 5.4pt 0cm 5.4pt'></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:solid #D9D9D9 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='text-indent:33.35pt;line-height:106%'><span lang=EN-US><a href="https://bullszimbabwe.com/"><span lang=EN-ZW style='font-family:"Verdana",sans-serif;color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=246 height=120 id="Picture_x0020_3" 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lang=EN-US><o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoSubtitle style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><span class=style30><b><span lang=EN-US style='color:black'><o:p> </o:p></span></b></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><span lang=EN-US><o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><span class=style30><b><span lang=EN-US style='font-family:"Verdana",sans-serif;color:#1F497D'>Major International Business Headlines Brief::: 02 February 2024 </span></b></span><b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span class=style30><b><span lang=EN-US><o:p> </o:p></span></b></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> </span><span lang=EN-US><o:p></o:p></span></p></td></tr><tr style='height:3.0pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:3.0pt'></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 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style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Govt Failing to Raise $10bn Annual Funding for Energy Transition - Report<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Somalia: NISA Shuts Down Al-Shabaab-Affiliated Websites<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: No to Third Party Operation of Port Harcourt Refinery<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Electricity Consumers Increase to 11.71m in Q3 2023 - NBS<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Tinubu Orders AGF, EFCC, Others to Resolve $1.3 Billion Malabu Oil Deal Saga<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>US approves $4bn sale of armed drones to India<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpMiddle style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Zuckerberg wins on Wall Street after Washington hit<o:p></o:p></span></b></p><p class=MsoListParagraphCxSpLast style='mso-margin-top-alt:auto;margin-left:72.0pt;mso-add-space:auto;text-indent:-18.0pt;line-height:115%;mso-list:l0 level2 lfo1;background:white'><![if !supportLists]><span style='font-family:Wingdings;color:#222222;mso-fareast-language:EN-ZW'><span style='mso-list:Ignore'>ü<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Bao Fan: Missing China billionaire banker returns to resign<o:p></o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoNormal 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</v:shape><![endif]--><![if !vml]><a href="https://www.cloverleaf.co.zw/"><img border=0 width=419 height=590 src="cid:image003.jpg@01DA55C6.131B4210" align=left hspace=12 title="" v:shapes="Picture_x0020_4"></a><![endif]><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Africa: 'We're Drowning in Plastic - We Need More Plastics Treaties'</span></b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>From January 23 to 25, South Africa hosted the first in-person meeting of international Plastics Pacts with twelve (of the fourteen) national and regional Plastics Pacts meeting.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Plastic Pacts are an example of a Public-Private Partnership (often called a Voluntary Agreement) which have been adopted by many nations ahead of the United Nations Global Treaty to end plastic pollution.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Pact members include major fast moving consumer goods brands, packaging companies, producers, traders, processors, academia, trade associations, NGOs, and governments who are all working towards a shared vision with business signatories measured against a series of science-based targets to reduce the impact they have on the environment through their use of plastics.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>allAfrica's Sethi Ncube spoke to Climate action NGO WRAP's CEO, Harriet Lamb about this first in-person Plastic Pacts meeting. WRAP is a climate action NGO working around the globe to tackle the causes of the climate crisis and work towards a sustainable future, it aims to end waste in plastics, food, and textiles, and to promote a circular economy.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>What are some of the notable achievements or milestones that WRAP has reached in its efforts to combat the climate crisis, and how do these accomplishments align with the goals of the Plastics Pact Network?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>After David Attenborough's film "Blue Planet" on BBC, that led to an absolute outcry among the public about turtles and whales drowning because of eating plastics, companies mobilised, together with the Ellen MacArthur Foundation and the first Plastics Pact in the UK was formed. Hundreds of companies joined up to the targets of what they would come together to do by 2025. People from around the world also echoed the same sentiments and are bringing companies together in a safe pre-competitive space, where they can together discuss how to reduce plastics and move to a more circular economy. And so the idea spread and number three in the world was South Africa...and there are now 14 Plastic Pacts. For the first time the network has come together here in Cape Town, people coming from Australia and New Zealand, Canada, Chile, Colombia, India, Kenya, Mexico, Poland, Portugal, South Africa, UK and USA to share ideas .. and to think on how can they work together to eliminate plastic.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>How have Plastics Pacts changed the way we address plastic pollution?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>I think what's really interesting is they've created this space where companies come together... If companies think "my competitor is still selling for example plastic straws or earbuds made with plastic or a lovely coloured bottle so I must have a lovely coloured bottle", but if they decide together "let's just sell plain bottles, because then they're easier to recycle", then those companies can move together to take that action and they can get the scale that is needed to change an industry because then it's worth it for the manufacturers, because all brands are asking the same thing. And then it's working for the recycling factories because everybody is giving them better quality of plastics for recycling for example. So it's an idea that a whole industry can move together.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>If companies move together, together with government, NGOs and set targets together they might eliminateunnecessary single-`use plastic by 2025.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>I think that accountability is also really important and that helps create national awareness among businesses but also among policy makers. In some countries, the Plastic Pacts also run campaigns. We run a campaign in the UK, for example, called Recycle Week. And last week we focused on all those items that people have in the bathroom, maybe shampoo bottles or face cream bottles that they often forget to recycle.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>What key systemic changes have emerged as a result?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Eliminating single-use unnecessary plastics is something all the pacts have got as one of their targets, another target is increasing the amount of recycled material in all your products. For example in the UK, we recycle our milk bottles lids which then come back as milk bottles...that's the kind of systematic changes that we've seen. However, we still have so much to do. The mounds of plastic are growing all around the world, we're drowning in plastic. So the good work of the Plastic Pact has to be scaled to the next level and has to spread to other countries and we really need more plastics treaties.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>How do you think South Africa is doing in terms of eliminating single use plastic?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>South Africa, in some ways, of course has been quite early to come in and say "we want to tackle this problem" and has some of the infrastructure to deal with it. On the other hand, waste is brewing in South Africa. South Africa alone generates 2.4 million tons of plastic waste every single year. So enormous progress is being made and at the same time more plastic is coming onto the market. Most countries in Africa are unable to cope with the level of plastic that's pouring on, which is why the answer has to be in the first place - REDUCE - reduce is the number one strategy, "take those items of plastic away, don't use them anymore"... The number one is reduce, because if you don't have the systems in place to collect, to recycle then you're in trouble and that's why we've been exploring in all the Plastic Pacts options around refill or reuse.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>During your time in Cape Town, what local projects do you plan to visit?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>We're going to meet the African Reclaimers Organisation (ARL). They are one of the reclaimers and waste pickers organisations that are part of the South Africa Plastics Pact, and they are very much about organising the waste pickers and so we will be going out with the waste pickers. I'm super excited to spend tomorrow with the reclaimers to learn about all that they've been doing to improve their conditions, about the role that they play in helping keep our communities and neighborhoods clear of the litter.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>What can we expect from this first in-person meeting that SA is hosting?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The first thing is I just think people are very inspired to be together, you know they are struggling with these difficult, really complex, really technical problems sometimes. And to have that chance to come together with other people struggling with the same problem gives you new energy. It gives you new inspiration. It gives you new ideas... And so I think we can see the Plastic Pacts, having new energy, new impetus, new commitment to really scale their impact. It's on the agenda tomorrow. How do we scale up or impact? How do we take it? Because as I said more plastic is coming onto the market.....we're going to definitely think about what more can we do? Do we want to spread to other countries? How can we move faster? Do we want to be tougher on saying stop using virgin plastics? I think you can expect to see definitely this reinforced commitment... I think you can see also improved policy both at the national level where many people work on what's called Extended Producer Responsibility (EPR).<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It's a new legislation that countries are introducing where if I'm a company and I'm putting plastics on the market, I have to pay for it....We're going to introduce it in the UK, but other countries are way ahead including South Africa, Kenya and Chile. I think we can see people learning about what's worked, what hasn't worked, and how can we share best practice. And I think we can see a reinforced determination that the global plastics treaty being negotiated will be a high ambition treaty.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>What factors contributed to the decision to launch the South African Plastic Pact as the third globally?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>I think it's because they heard about the plastics pact in the UK and they saw all around them the pollution and they were hearing from companies about it. They want to make sure it is a just transition to the green economy. And they believe that there are the jobs and the livelihoods in a more circular economy. So immediately they saw that this was potentially a brilliant way to bring companies together, including global brands like Unilever, Coca Cola, PepsiCo and Tiger, Woolworths and discuss together how to shift the market and to encourage investment into this new circular economy. So I think they just saw very quickly the potential to make a difference and took it up and ran with it.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>How does this SA Plastic Pact compare to the earlier launched initiatives globally?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It's really interesting because we've got so much that is similar. We face similar problems and sometimes - the same companies. So that's where everybody has a goal target, eliminate unnecessary single-use plastic, every every pact has that. But then, of course, the pacts are different depending on the country, depending on the products, depending on how wealthy the country is, depending on "Is there an informal waste collectors sector or not?", because in the UK, we don't have an informal sector - it's all companies collecting waste, usually through our local government. So we would have some goals that are not relevant in another country where it's all about the waste pickers, so that's where the pacts have been able to flex and get it right for each country. We are always talking, we talk together with businesses in the country, together with waste pickers in that country, with SMEs, with government and then adapt the principles to the local situation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>What unique role does the Informal Waste Sector (IWS) play in the South African context and other participating countries?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>I mean, in many countries, they are the people collecting waste. I think there's 20 million waste pickers internationally. Globally, waste pickers collect 60% of all the plastic that gets recycled, because in countries like India, like South Africa, like Kenya they are so critical. It's not the same as I said, in countries that have strong recycling sector, collections, that have local government collecting but in so many parts of the world that's not true and therefore, they are absolutely at the heart of thinking how can we make sure that their incomes and livelihoods are enhanced and improved as we move towards this more circular economy. And of course why that's brilliant is because they're in their communities, they know their communities...they know who needs what kind of waste they pick for recycling...They really care for their community and very often of course, as they go around they get to know everybody, they get to see everybody and they are often famous in different countries. They're also really key community ambassadors. - Edited by Melissa Britz<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Rwanda: 7 Firms to Invest Over Rwf50 Billion in Gabiro Agribusiness Hub<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Seven firms from different countries are expected to invest more than Rwf53 billion in large-scale commercial farming under the Gabiro Agribusiness Hub, according to information The New Times got from the Ministry of Agriculture and Animal Resources (MINAGRI).<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The hub is in Nyagatare and Gatsibo districts of Eastern Province. It was developed to cater to the country's food security needs, and help it offset trade balance by addressing the current situation where its imports still outweigh its exports.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It was initiated through a partnership between the Government of Rwanda and Netafim - an Israel-based firm considered a global leader in irrigation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to the Ministry of Agriculture and Animal Resources, the project aims to create a holistic and commercial agricultural ecosystem by developing an advanced modern value chain over approximately 15,600 hectares of arable land with advanced water infrastructure, cutting-edge irrigation systems, high-value agro-processing operations, and other agriculture technology activities.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Speaking during the 19th National Dialogue Council - Umushyikirano, on January 23, the Minister of Agriculture and Animal Resources, Ildephonse Musafiri, said that more than Rwf100 billion had already been invested in the development of 5,600 hectares of Gabiro Agribusiness Hub - as the first phase of the project.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This, he said, attracted large investors who do large-scale farming on land of up to 1,000 hectares.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Here are the companies, the acreage they were awarded, their investments, and which crops they are venturing into, as per information The New Times received from MINAGRI:<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>EA Agro<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This is a company from Romania and Bulgaria. It was awarded 978 hectares for growing maize, soybean, wheat, and vegetables. Its investment is estimated at more than Rwf16 billion in five years.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Kinvest<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The company originates from Rwanda and plans to invest more than Rwf18.8 billion in growing chili, soybean, and macadamia in five years, on the 523 hectares it was awarded.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Western Seed Company<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Originating from Kenya, the firm was awarded 898 hectares, and it is expected that it will invest Rwf2 billion for maize seed production in five years.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Green Fresh<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This firm from Rwanda was awarded 432 hectares for growing maize, maize seeds, soybeans, and French beans. It is projected that the company will invest Rwf1 billion over one year.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Agropark Gabiro<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Also from Rwanda, the company plans to invest more than Rwf10 billion in growing maize and chili over five years, on more than the 615 hectares it was awarded.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Garden Fresh<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A horticulture exporting company from Rwanda, Garden Fresh was awarded 196 hectares on which it is expected to grow French beans, passion fruits, chili, and avocado. It is planned that the firm will put in Rwf388 million in one year.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Flock house<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Originating from Zimbabwe, the company was awarded 282 hectares and it is expected it will invest Rwf4 billion on growing butternut, potatoes, lemon, strawberries, and peas over three years.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Implications<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On the implication of the development on Rwanda's agriculture sector and the country's economy at large, Musafiri told The New Times it means "increased productivity due to introduction of better farming practices, [and] over 6,000 job creation in the command area."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He indicated that farming activities under the project are set to commence on March 31, 2024.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Meanwhile, he said that the project serves as the first large-scale and job-creating farming model that generates money in Rwanda and will later be expanded to other parts of the country.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-New Times.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: CBN's Takeover of Sales Proceeds From NNPCL Illegal - Atiku<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Former vice president Atiku Abubakar has said the directive by the federal government for the Central Bank of Nigeria (CBN) to take over the responsibility for crude oil sales proceeds from the Nigerian National Petroleum Company Limited (NNPCL) is not legal in its application.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said the directive is an arbitrary order capable of undermining the operational independence of the NNPCL.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Atiku, in a statement, said his opposition to the directive is without prejudice to the possibility of any good that was intended in the decision.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>While noting that little has been communicated to the public about explaining details of the decision, he said according to what is publicly available, President Bola Tinubu has issued a directive that henceforth, the NNPCL would submit receipts for crude oil sales to CBN for vetting and documentation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Whatever may be the merit of the new arrangement, the presidential directive is a violation of the legal status of the NNPCL.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It is an arbitrary order capable of undermining the operational independence of the NNPCL.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"By this order, Mr. President has wrested control of the finances of the NNPCL and donated the same to the Federal Ministry of Finance and the Central Bank of Nigeria.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"This is an unprecedented act, without any legal or ethical basis. It is also a violation of the principle of due process in public administration."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Atiku said state-owned enterprises are not subject to such arbitrary orders and have full control over their finances within the confines of their respective establishment laws.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said the NNPCL is a creation of the Petroleum Industry Act 2021 (PIA), which was signed into law by the President of the Federal Republic of Nigeria on August 16, 2021.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The PIA makes extensive provisions for the formation, structure, governance, and operation of the NNPCL as an independent limited liability company in Sections 53 to 65 of the Act.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The government must, therefore, respect the provisions of the law and allow the NNPCL to run as an independent company based on sound commercial objectives and in line with international best practices and standard principles of corporate governance.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Only then would the new NNPCL grow into a formidable institution with track records, requisite technical and financial capacity, and readiness to operate in public space.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Any attempt to undermine the operational independence of the NNPCL will be a hindrance to any chances of attracting investments and attaining global relevance in the Petroleum Industry.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Let it also be stated that the Central Bank Act 2007 does not confer on the Central Bank of Nigeria, any responsibility for vetting the transactions of, or formulating and maintaining the internal controls and internal audits in state-owned enterprises, public or private.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The CBN should be allowed to perform its core functions as provided in the extant law.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"To enhance transparency and accountability in the operation of the NNPCL, its bank accounts for crude sales proceeds (for example at Morgan Stanley) and the entire crude sales conversion circle can be trailed by Nigeria Extractive Industry Transparency Initiative (NEITI) and CBN.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Amongst other supportive measures to enhance transparency, the NNPCL board members can be better selected and reconstituted to include, if desired, representatives of the CBN and NEITI," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Leadership.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Uganda: MPs Pile Pressure On Agriculture Minister to Table Fisheries Law<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Kampala, Uganda — Members of Parliament (MPs) have called on the Minister of Agriculture, Animal Industries and Fisheries, Frank Tumwebaze, to fast track implementation of the Fisheries and Aquaculture Act, 2022 as a way of curbing the use of substandard fishing gear.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>They said the law, if implemented, will also avert the recurrent alleged human rights violations of fish farmers by the security operatives.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Parliament passed the Act, whose objective among others; is to provide for the licensing, control and regulation of fishing and aquaculture production activities and practices, the methods of fishing and fishing gear.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In 2017, President Yoweri Museveni directed the Uganda Peoples' Defence Forces (UPDF) to deploy on Ugandan lakes to combat illegal fishing practices so as to protect the fish resource that was under threat of depletion.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Agnes Atim (NRM, District Woman Rep., Amolatar) said that in the absence of regulations, fishers are being blackmailed and tortured by the UPDF into using substandard imported fishing gear.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>She raised the matter during plenary sitting on Wednesday, 31 January 2024.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"There is need to investigate, arrest, parade and prosecute these illegal net traders and support the fishers with legal fishing nets, boats and engines. The Fishers of this country have never been attended to what they receive is death," she said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Peter Okeyoh (NRM, Bukooli Island County) said that the fishers are forced to buy the imported fishing gear at high cost, thereby affecting their business.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It is our prayer that we look at the plight of the fishermen. Their rights are abused," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Emmanuel Ongiertho (FDC, Jonam County) said that the substandard fishing gear has infiltrated the fishing communities to the extent that it has become difficult to convince them to use the legal gear.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Ordinarily, our people had embraced the recommended net sizes but when they see the illegal nets coming in, it is difficult to convince these ones using the right nets. That is why it is important that this is dealt with," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Abed Bwanika (NUP, Kimaanya-Kabonera) blamed such acts on the absence of regulations to operationalise the Fisheries and Aquaculture Act.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Since we passed the law, there are no regulations and that is why even the UPDF cannot exit. There has to be a unit that enforces the law," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Elijah Okupa (Indep., Kasilo County) said that government should also check and ban importation of threads used for making the fishing gear.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Threads are imported and nets made locally. Not only nets should be banned, even the threads, this is a big problem and should be resolved," said Okupa.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Deputy Speaker, Thomas Tayebwa, gave the agriculture minister, who was not in the House, one month to table the regulations.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The MPs also reiterated the need to address the recurrent cases of torture and abuse of human rights of locals in fishing communities by the UPDF.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Okupa said that cases of torture and even murders of locals in fishing communities is worrying.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Some of these people are arrested in Kasilo and transported to Central Police Station in Kampala. Why arrest them in Kasilo and take them to CPS on Buganda road. There is need for proper handling of fishermen," said Okupa.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Minister of Defence and Veteran Affairs, Hon. Vincent Ssempijja, pledged to investigate the allegations and report back on Tuesday, 06 February 2024.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Let me get this information from Okupa and I will come back. All incidents can be investigated and the only institution in this country that investigates and punishes its members is the UPDF. We do not condone this kind of behaviour," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Independent (Kampala).<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Kenya and South Africa Strengthen Trade Ties Under AfCFTA Framework<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nairobi — Kenya and South Africa on Thursday intensified their efforts to strengthen the African Continental Free Trade Agreement (AfCFTA) framework.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The two nations that share cordial bilateral relations, marked a significant moment by initiating the first shipment of products under the AfCFTA framework across the African continent.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>South Africa led the way by sending a shipment containing refrigerators, paperboard, and steel products destined for the Kenyan market.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The launch occurred on the sidelines of the 13th AfCFTA Council of Ministers Meeting in Durban, with the President of the Republic of South Africa, Cyril Ramaphosa, presiding over the ceremony.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Rebecca Miano, the Trade Cabinet Secretary in attendance, commended the initiative, highlighting the tremendous opportunity it presents for enhanced trade between the two nations.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"This action serves as a clear indication that South Africa is open for business within the AfCFTA framework," she said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Cabinet Secretary Miano emphasized that the consignment from South Africa serves as a genuine testament to the nation's readiness for strengthened trade ties.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"South Africa has confirmed its readiness to trade under the framework. It is also an indication that South Africa is ready to receive imports from the AfCFTA countries whose tariff offers have been finalized and adopted by the African Union Assembly," she said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Kenya embraced the AfCFTA initiative early on, initiating its first shipment of tea and later expanding its exports to various products in 2022.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The AfCFTA, with a collective population of 1.3 billion people and a combined GDP exceeding USD 3.5 trillion, stands as a crucial market that both nations are eager to explore and capitalize on for mutual gain.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Despite the relatively modest total trade figures of R9.7 billion between Kenya and South Africa in 2022, with South Africa holding a trade surplus, the implementation of the AfCFTA opens up avenues for substantial growth.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The AfCFTA establishes a framework for both countries to raise awareness among exporters, utilizing their respective national AfCFTA Implementation Strategies to maximize the benefits offered by the agreement.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Trade between Kenya and South Africa spans various sectors, encompassing tea, coffee, fruits, and vegetables from Kenya, while South Africa exports iron and steel, mineral fuels, machinery, wine, cars, fridges, TVs, and agricultural products.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Both nations have committed to facilitating the smooth entry of each other's products into their markets and addressing non-tariff barriers to enhance intra-African trade.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In the upcoming weeks, Kenya is set to reciprocate South Africa's initiative by sending its consignment of Kenyan products to the South African market under the AfCFTA framework.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This reciprocal exchange represents a crucial step in fostering economic collaboration and capitalizing on the vast opportunities presented by the AfCFTA.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>As South Africa and Kenya take the lead, their proactive involvement under the AfCFTA establishes a positive example for other African nations, underscoring the significance of regional cooperation and trade integration in propelling economic growth across the continent.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Capital FM.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Ethiopia: The Game-Changing Role of GERD in Regional Integration, Economic Growth<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>There is no doubt that the Grand Ethiopian Renaissance Dam (GERD) plays a very significant role in smoothing the path of economic regional integration in the midst of the Nile Basin countries. One of the key features of the dam is its potential to greatly boost the hydroelectric power generating capacity in the region at the earliest possible juncture.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In actual fact, by putting the power of the GERD to use, Ethiopia can provide a significant increase to the attainability of electricity possibly modifying the energy curve of the Nile Basin nations. For the sake of truth, the collective efforts needed to plan, construct, and preserve such a colossal flagship project helps in developing enhanced connections among these nations in next to no time.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In a similar vein, the GERD functions as a stepping stone for dialogue and harmonization allowing them to act in concert towards a shared objective of considerable growth and broader prosperity. Apart from holding the potential to stimulate economic development, the dam plays a huge role in attracting foreign investments making smoother industrial development and creating employment opportunities.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The existence of the dam can attract overseas investments to make possible industrial growth and encourage job creation. For the sake of truth, this economic expansion can give rise to enhanced standards of living for the local populace and provide opportunities for alleviation of poverty. In addition to its electricity generation and economic advantageous, the game changer project plays a very significant role in environmental sustainability and plummeting greenhouse gas secretions backing up climate change alleviation endeavors and fostering a climate friendly future.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The dam's ability to provide uninterrupted supply of electricity holds tremendous potential in attracting foreign investment for the most part in producing capital intensive industries. The existence of credible power infrastructure can meaningfully boost the attraction of the Nile Basin region for international investors who seek balanced energy sources to sustain their business operations.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The construction and operation of the dam have the capability to clear the way for the emergence of renewable energy businesses not only under the umbrella of Ethiopia but also in various parts of the world.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The augmented eco-friendly renewable energy source capacity can act as a starting point for the growth of alternative power technologies. This grants an avenue for the Nile Basin nations to install themselves as frontrunners in the renewable source of energy and pay a regular contribution to the global efforts to change towards cleaner energy sources.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In addition to supplying electric power for the country, the colossal dam can provide power to neighboring territories in the Nile Basin. This concerted energy exchange arrangement can promote closer cross-border relationships, encourage shared reliance, and play a part in inclusive progress in the region.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Opportunity to use dependable and reasonably priced electricity is a vital baseline for industrial development that can arouse economic growth, generate job opportunities, and elevate the material well-being of people and opens up possibilities for the growth of renewable energy sector on a worldwide scale. Besides, the dam can not only meet Ethiopia's energy needs but also support the economic progress of the Nile Basin countries and improve regional cooperation in the nearest future.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The success of such an enormous development deeply depends on building confidence, nurturing diplomatic connections, and gaining a boosted understanding of the concerns and ambitions of each partaking nation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This cooperative process not only provides a foundation for the implementation of the dam but also play a part in regional integration. By cooperative efforts towards a shared objective, the Nile Basin nations are able to reinforce their economic associations and enhance collaboration. With an amplified hydroelectric power generating capacity, the dam turns out to be an attractive destination for foreign investments mostly in industries that require reliable and abundant electricity.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The dam has the intensity of arousing industrial development and economic expansion bringing into effect the conception of employment opportunities and enhanced living standards for the societies in the Nile Basin. These positive economic significances further strengthen the alliances between regional integration.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The constructions of the dam demonstrate the capability to partnership in the Nile Basin region and accomplish the intended target at the earliest possible time. Through wide-ranging discussions and conferences, trust is built, diplomatic alliances are supported, and enhanced understanding of each nation's concerns and goals is attained.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The economic integration smoothed by the dam brings about economic growth and development by intensifying availability to electricity and water resources. The resulting positive economic outcomes further reinforce the bonds of economic integration policies setting the stage for continuous collaboration and progress in the Nile Basin.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Ethiopian Herald.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Govt Failing to Raise $10bn Annual Funding for Energy Transition - Report<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria is falling short of the $10 billion annual target for achieving net-zero carbon emission by 2060, a report by the Natural Resources Governance Institute, NRGI, and BudgIT Foundation, has disclosed.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>To bridge the funding gap, the report which assessed Nigeria's preparedness for energy transition urged the Federal Government to consider domestic revenue mobilization, international public finance and leveraging just energy transition partnerships.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Speaking at a session for the validation of a Guidebook on Energy Transition in Abuja, the Executive Secretary of Nigeria Extractive Industries Transparency Initiative, NEITI, Dr Orji Ogbonannaya Orji said the guidebook was necessary because even though Nigeria has a broad energy transition plan, the document is a policy plan that requires a lot more contextual explanations.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Dr. Orji noted that the civil societies have a responsibility to constantly put the discussion of details of who is going to do what, and all the explanations required on the policy plan on the table for easy implementation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The NEITI boss said he had sought an audience with the leadership of the energy transition office for a robust discussion on specifics on who is going to do what.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We already see a gap that we need to fill. That gap is on data. How do we provide the requisite data that is needed to drive the energy transition".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Earlier, Senior Officer at the Natural Resource Governance Institute, Nigeria Program, Tengi George-Ikoli, described the Energy Transition Handbook as a homegrown document that would be useful for both the government, civil society, media and indeed all relevant stakeholders to drive a seamless and sustainable energy transition.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We welcome you to this validation session for the Guidebook on Energy Transition. Please participate robustly, honestly and air your candid views. And on that note I look forward to very fruitful deliberations", she said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Also speaking during the event, Head of Natural Resource Governance & Sustainability Unit at BudgIT Foundation, Adejoke Akinbode, said the Guidebook will provides a guide informed by engagements with state and non-state actors including government, private actors, communities, youth and women groups on the strengths and weaknesses of Nigeria's energy transition plans, energy access and key development needs. It offers perspectives that respond to Nigeria's unique context and peculiarities as a fossil fuel-dependent nation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Vanguard.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Somalia: NISA Shuts Down Al-Shabaab-Affiliated Websites<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mogadishu — The Somali National Intelligence and Security Agency (NISA) has released the list of Al-Shabaab-affiliated websites that it blocked from the public domains.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The websites are the biggest ones where Al-Shabaab used to spread its news and could only be viewed abroad, as it has already been closed inside the country.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A statement issued by the NISA agency said that 14 websites that were used to access the group's information were officially removed from the air, and some of them were listened to by the radio station that speaks the language of the group.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"This operation, which included the collection of websites, their investigation, finding the names of the registered owners and finally closing them down, has been going on for the past few months, and it has been possible to remove these websites that have been registered for different years," NISA said in the statement.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Federal Government has already blocked access to Al-Shabaab websites in Somalia and has now succeeded in making those websites unreadable in all countries of the world.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Shabelle.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: No to Third Party Operation of Port Harcourt Refinery<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On January 15, 2025, the Nigerian National Petroleum Company Limited (NNPCL), the formerly government-owned corporation, which transformed to a limited liability company in July 2022, but still owned by the government, launched a tender seeking potential private company operators to manage the Port Harcourt Refining Company (PHRC).<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Rehabilitation work has been ongoing at the refinery for over two years and the NNPC Ltd had pledged to complete Phase One of the project (mechanical completion and flare start-up) of Old Port Harcourt Refinery (Area 5) by 31st December 2023. Expected to commence production in the first quarter of 2024, the refinery will process 60,000bpd, with plans to reach its full capacity of 210,000bpd later in the year.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, in a public notice on its website and shared on its X page, NNPCL said it is to "Engage reputable and credible Operations & Maintenance (O&M) companies to operate and maintain one of its refineries, Port Harcourt Refining Company (PHRC), to ensure reliability and sustainability towards meeting the nation's fuel supply and energy security obligations."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The criteria for the prospective operators include $2bn of minimum turnover since 2019, a current credit rating and experience in refinery management.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The PHRC, which became operational in 1965, ceased operations five years ago, joining the league of federal government-owned refineries that have been inactive for years. This not only bleeds the nation's already-stressed foreign exchange reserves, it denies the country of not only cheaper fuel but also results in lost jobs, lack of supporting local businesses, and establishment of downstream industries like petrochemicals.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Attempts at revitalisation of PHRC began on March 17, 2021 when the federal government approved $1.5 billion for the rehabilitation. In April 2021, NNPCL signed a $1.5 billion contract with Italian Marie Technimont for its rehabilitation with the funding billed to come from the NNPC budgetary provisions, internally generated revenue and Afrexim Bank.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Ahead of the contract signing, NNPC Ltd signed a $1.5 billion financing package called 'Project Eagle' in August 2020, a prepayment deal with Standard Chartered and backed by African Export-Import Bank (Afrexim) and United Bank for Africa (UBA). But the $1.5 billion loan tag and rehabilitation contract raised eyebrows with critics questioning whether it is a profitable venture considering Nigeria's precarious fiscal challenges and the refinery's history of breakdowns and operational inefficiencies.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The rehabilitation went on nonetheless, and on December 21, 2023, NNPC Ltd said it had completed the mechanical phase of the turnaround maintenance at the plant in preparation for the commencement of operations. Then came the announcement two weeks ago that NNPC Ltd was seeking credible operations and maintenance (O&M) companies to operate and maintain the same refinery.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Former Vice President Atiku Abubukar has faulted the plan to hire a third party to manage the refinery after its rehabilitation, arguing that the federal government should have privatised it before the process of the rehabilitation. Regretting the huge debt incurred by Nigeria in the rehabilitation, he posited that it "Would undoubtedly have been better if the NNPC had sold the refinery, pre-rehabilitation, to avoid the burden of debt."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Daily Trust believes that in the spirit of accountability and good governance, NNPC Ltd needs to be open with Nigerians on what changed from the time they were planning to rehabilitate the refinery and now. Rather than borrow money to repair the refinery and then hand it over to a private company to operate, it would have made more sense to have the operations and maintenance built into the rehabilitation agreement, so that the cost of rehabilitation would be borne by the same company or consortium that would operate and maintain the refinery for a given period, much like a Build-Operate-Transfer (BOT) arrangement, without the need for the federal government to borrow a penny.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>As things stand, the NNPC Ltd must pay, one way or another, any company it hires to operate and maintain the refinery, while still paying back both the principal and any interests on the $1.5 billion incurred to rehabilitate the refinery in the first place. This, in our view, is voodoo economics because in the final analysis, the proposed arrangement will leave little by way of benefits for Nigeria and Nigerians of having the refinery operational.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The NNPC Ltd has a duty of delivering on its avowed commitment to keep the refineries up and running and keeping the prices of petroleum products in the country stable in order to give comfort to the citizens and generate more revenue for our country. This is what the full operation of the PHRC and other refineries would engender. And it would be great if this is delivered by the NNPC Ltd itself. If nearly fifty years after incorporation the NNPC Ltd still cannot run a refinery by itself, what then does it really exist for?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Daily Trust.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Electricity Consumers Increase to 11.71m in Q3 2023 - NBS<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The NBS review focuses on energy billed, revenue generated, and customers by DISCOS under the reviewed period.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The number of electricity consumers rose by 240,000 from 11.47 million in the second quarter of 2023 to 11.71 million in the third quarter of 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The National Bureau of Statistics (NBS) stated in its Nigeria's electricity report for the third quarter of 2023 released in Abuja on Thursday, that the increase was by 2.08 per cent.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The News Agency of Nigeria (NAN) reports that the review focuses on energy billed, revenue generated, and customers by DISCOS under the reviewed period.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It stated that on a year-on-year basis, the number of electricity customers increased by 7.09 per cent in Q3 2023 from 10.94 million reported in Q3 2022.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It said Q3 2023, the number of metered customers stood at 5.68 million from the 5.47 million recorded in Q2 2023, this indicated a 3.77 per cent increase.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"On a year-on-year basis, the figure grew by 13.07 per cent from the 5.02 million reported in Q3 2022," the NBS stated.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Similarly, estimated electricity customers stood at 6.03 in Q3 2023, showing an increase of 0.53 per cent over the six million recorded in Q2 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"On a year-on-year basis, estimated customers increased by 2.02 per cent in Q3 2023 from the 5.91 million recorded in Q3 2022."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The NBS also said that electricity distribution companies collected N260.16 billion in revenue in Q3 2023 compared to the N263.08 billion they collected in Q2 2023 .<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It added that on a year-on-year basis, revenue collected rose by 28.40 per cent over the N202.62 billion collected in the third quarter of 2022.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It stated that electricity supply dropped to 5,731.60 (Gwh) in the third quarter of 2023 from 5,909.83 (Gwh) recorded in the second quarter of the year.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, the report said on a year-on-year basis, electricity supply increased by 14.09 per cent in Q3 2023 compared with the 5,023.96 (Gwh) reported in the Q2 2022.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>(NAN)<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Premium Times.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: Tinubu Orders AGF, EFCC, Others to Resolve $1.3 Billion Malabu Oil Deal Saga<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>An official said that parties involved in the deal were negotiating to end the more than 28 years crisis and litigation surrounding the prolific Malabu oil block located in southern Niger Delta in the next one month.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>President Bola Tinubu has ordered the Attorney-General of the Federation, Lateef Fagbemi, to clear court cases on $1.3 billion deepwater OML 245 oil block in Niger Delta.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Others expected to carry out the president's directive are the Minister of State for Petroleum Resources, Heineken Lokpobiri, and the Economic and Financial Crimes Commission (EFCC).<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The rest are the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Nigerian National Petroleum Company Limited (NNPC Ltd).<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Lokpobiri delivered the president's directive in Abuja on Wednesday while speaking with journalists.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The News Agency of Nigeria (NAN) reports that the federal government had in 1998 awarded the Oil Mining Lease (OML) 245 to Malabu Oil and Gas Ltd. for 20 million dollars.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The licence covers a defined deep-water offshore area more than 1,000 metres below sea level and approximately 150 kilometres off the Niger Delta.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, with progress in the awards, this has turned out to be a pain. It has been a constant source of litigation for successive governments due to fraud and corruption allegations concerning the award of the licence.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The minister said that parties involved in the deal were currently negotiating to end the more than 28 years crisis and litigation surrounding the prolific oil block located in southern Niger Delta in the next one month.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The previous administration initiated most of the cases that we are talking about today, and they took us to court, while we took Eni, Malabu, others to different courts in Europe, Canada, etc, but we didn't win any of the cases.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"To even shock you, there is one that got us a penalty of over 70 million pounds," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said that JP Morgan, a financial institution sued the government for trying to dent its image in the saga, adding that the penalty was now binding on Nigeria.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"So we have been fined over 70 million pounds by the court. Who will pay that? You and I will pay that, or our children will pay, because it is a judgement debt.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"And in all the ones that we pursue both in Switzerland and other locations, we have no evidence to get conviction.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"And so it makes sense for this government to come and say that for 28 years, this block has been idle.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"This block is a prolific block that will add so much value to our economy, so let's see how we can resolve the problem," he said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said they were in talks with Eni and Shell, to see how they could resolve all the problems.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said that at the last meeting, it was agreed that parties should go on with negotiations and to reconvene within one month to see how we will be able to sort out all the issues so that the investment can continue.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to him, the parties of the federal government interfacing with Eni and Shell, is the Attorney-General of the Federation, which leads the delegation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It includes NUPRC, EFCC, NNPC Ltd, and the Minister of State for Petroleum<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We are transparent about this process. We have full government in resolving this matter. Everything is being done transparently.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"This process has nothing to benefit the President as an individual, his interest is the welfare of Nigerians and to attract investments to the sector for Nigerians to benefit from God-given natural resources," the minister said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>(NAN)<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>-Premium Times.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Bao Fan: Missing China billionaire banker returns to resign<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from his financial firm, China Renaissance Holdings Ltd.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He stepped down "for health reasons and to spend more time on his family affairs," the bank said in a statement.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Bao's unexplained disappearance in February last year shocked China's business and investing community.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Just days later, China Renaissance said he was cooperating with authorities who were conducting an investigation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In its latest filing, the company said its co-founder, Xie Yi Jing, will assume Mr Bao's duties.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Bao "has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders", it added.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, it did not provide any details about Mr Bao's whereabouts.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He was one of China's most high-profile bankers with a client list that included internet giants Tencent, Alibaba and Baidu.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Why do Chinese billionaires keep vanishing?<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In February, China Renaissance said: "The board has become aware that Mr Bao is currently cooperating in an investigation being carried out by certain authorities in the People's Republic of China."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The company will duly cooperate and assist with any lawful request from the relevant PRC authorities, if and when made," it added.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The announcement was the first time that China Renaissance had given a reason for the disappearance of its founder.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>How China's crackdowns are impacting business<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>His disappearance came against the backdrop of a crackdown on leading technology companies by Chinese authorities.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In late 2020, Alibaba founder Jack Ma also disappeared from public view for three months, after making comments critical of market regulators. He had been due to publicly list his digital payments firm Ant Financial - which would have most likely made him the richest man in China.-bbc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Zuckerberg wins on Wall Street after Washington hit<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mark Zuckerberg's Meta had a bad day in Washington this week. But on Wall Street, it took a victory lap.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The social media firm updated investors with a slew of good news: quarterly profits that tripled year-on-year to more than $14bn (£11bn), a surge in users, lower costs and higher ad sales.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Even its much ridiculed, money-losing virtual reality unit hit a milestone, generating $1bn in revenue.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Lest anyone doubt its confidence, the company declared a first-ever dividend.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That is a payout to shareholders - in this case of 50 cents per share.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The company, owner of Facebook, Instagram and WhatsApp, also pledged to keep the money flowing, saying it was in a strong financial position, and could invest in the business while still making plans for such payments on a quarterly basis "going forward".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Shares in the company, already at record highs, surged more than 12% in after-hours trade.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Analysts said the decision to offer a divided was a sign of maturity, as Facebook approaches its 20th birthday.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It confirmed the shift in investor sentiment from 2022, when shares in the company had swooned and a high-profile investor wrote a public letter to Mr Zuckerberg that the company had "drifted into the land of excess — too many people, too many ideas, too little urgency" and "needed to get its "mojo back"<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Elsewhere in big tech, business was also good.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Amazon sales leaped 14% year-on-year during the September-December period. At Apple, revenue returned to growth for the first time in a year.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But Meta's performance was the most head-spinning, coming just a day after it faced blistering critique in Washington, where senators told Mr Zuckerberg that his product was "killing people" and he was pushed to apologise to families of victims of child sexual exploitation.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Speaking to analysts on Thursday, Meta acknowledged that it was facing regulatory challenges that could "significantly" affect its business.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But it spent little time on the topic.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>And for now, whatever the product may be doing, there is little doubt that people, and advertisers, are sticking with it.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Meta said nearly 3.2 billion people were active on one of its platforms daily in December, up 8% year-on-year.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Revenue in the September-December period grew 25% year-on-year to more than $40bn.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Meanwhile the cost cutting drive that Mr Zuckerberg launched last year, which included thousands of job reductions, helped push expenses down 8%. Head count was 22% lower.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Jasmine Engberg, principal analyst at Insider Intelligence, said the company had exceeded expectations, as its investment in using AI to enhance advertising paid off.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It was a stellar Q4," she said. ""Meta's 2023 earnings are cause for more celebration as Facebook's 20th anniversary nears."-bbc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>US approves $4bn sale of armed drones to India<o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The US State Department has approved the potential sale of 31 armed drones, missiles and other equipment to India for nearly $4bn (£3.14bn).<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The MQ-9B Predator drones deal had been announced during PM Narendra Modi's visit to US in June 2023.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In December, it was put on hold by a Senate committee pending investigation into an alleged Indian assassination plot on US soil.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The deal will now be confirmed after approval from the US Congress.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It includes the sale of 31 armed MQ-9B SkyGuardian drones, 170 AGM-114R Hellfire missiles and 310 laser small diameter bombs, communications and surveillance equipment and a precision glide bomb, the Pentagon said. General Atomics Aeronautical Systems will be the principal contractor for the deal.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to Reuters news agency, Senator Ben Cardin said he had ended his "hold" on the agreement for the deal after the US government agreed to fully investigate the assassination plot.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Sikh separatist 'targeted by murder plot' in US<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The [Biden] administration has demanded that there be investigation and accountability in regards to the plot here in the United States, and that there is accountability within India against these types of activities," Mr Cardin told reporters.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Last year, the US accused Delhi of plotting to assassinate an American citizen who advocates for Khalistan - an independent Sikh state carved out of India.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A government spokesperson said the US had "conveyed our expectations that anyone deemed responsible should be held accountable".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>India's foreign ministry denied anything to do with the murder plot. It also said a high-level inquiry committee had been formed "to investigate the allegation and address the US government's security concerns".<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On Thursday, the Pentagon said the proposed drone deal with India "will support the foreign policy and national security objectives of the United States by helping to strengthen the US-Indian strategic relationship".-bbc<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:0cm;margin-right:50.35pt;margin-bottom:0cm;margin-left:40.45pt;margin-bottom:.0001pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:10.05pt'><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:10.05pt'><p class=MsoNormal style='line-height:106%;background:white'><i><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Invest Wisely!</span></i><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><b><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Bulls n Bears </span></b><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'> </span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Cellphone: </span><span lang=EN-US><a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>+263 77 344 1674</span></a></span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Alt. Email: </span><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>bulls@bullszimbabwe.com</span></a></span><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'> </span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Website: </span><span lang=EN-US><a href="http://www.bullszimbabwe.com"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>www.bullszimbabwe.com</span></a></span><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'> </span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Blog: </span><span lang=EN-US><a href="https://bullszimbabwe.com/category/blogs/bullish-thoughts/" target="_blank"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>www.bullszimbabwe.com/blog</span></a></span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Twitter: @bullsbears2010</span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>LinkedIn: Bulls n Bears Zimbabwe</span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Facebook: </span><span lang=EN-US><a href="http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA" target="_blank"><span style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>www.facebook.com/BullsBearsZimbabwe</span></a></span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%'><span lang=EN-US style='font-size:10.0pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Skype: Bulls.Bears </span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='text-indent:33.35pt;line-height:106%'><span lang=EN-US><img border=0 width=278 height=115 id="_x0000_i1026" src="cid:image004.png@01DA55C6.131B4210"><!--[if gte mso 9]><xml>
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</xml><![endif]--></span><span lang=EN-US style='mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='line-height:106%'><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;margin-left:36.0pt;line-height:115%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:10.05pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr><td width=910 colspan=4 style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:105%'><strong><span lang=EN-US style='font-family:"Verdana",sans-serif;color:#345883'>INVESTORS DIARY 2024</span></strong><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='text-indent:12.6pt;line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Company</span></b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Event</span></b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Venue</span></b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif'>Date & Time</span></b><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=175 valign=top style='width:131.3pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=207 style='width:155.5pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US><o:p> </o:p></span></p></td><td width=175 valign=top style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:10.0pt;line-height:105%;font-family:"Trebuchet MS",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='margin-left:72.0pt;text-indent:-72.0pt;line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><b><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'>Companies under Cautionary<o:p></o:p></span></b></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><b><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'><o:p> </o:p></span></b></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#D9D9D9;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><b><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'><o:p> </o:p></span></b></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>CBZH<o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>GetBucks<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>EcoCash<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Padenga<o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Econet<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>RTG<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Fidelity<o:p></o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>TSL<o:p></o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'>FMHL<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:3.25pt'><td width=382 colspan=2 valign=top style='width:286.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=353 style='width:264.7pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=175 valign=bottom style='width:131.3pt;border-top:none;border-left:none;border-bottom:solid #BFBFBF 1.0pt;border-right:solid #BFBFBF 1.0pt;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt;height:3.25pt'><p class=MsoBodyText style='margin:0cm;margin-bottom:.0001pt;line-height:105%'><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:3.25pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td></tr><tr style='height:99.35pt'><td width=910 colspan=4 style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:99.35pt'><p class=MsoBodyText align=center style='margin:0cm;margin-bottom:.0001pt;text-align:center;line-height:105%'><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span lang=EN-ZW style='color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'><img border=0 width=804 height=268 id="Picture_x0020_2" src="cid:image005.jpg@01DA55C6.131B4210"></span></a></span><span lang=EN-US style='font-size:11.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm;height:99.35pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#1F497D;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><i><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></i></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#1F497D;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><i><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:white'>DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of Faith Capital (Pvt) Ltd for general information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities. The information contained in this report has been compiled from s believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other Indices quoted herein are for guideline purposes only and d from third parties.</span></i><i><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p></o:p></span></i></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><i><span lang=EN-GB style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:white'><o:p> </o:p></span></i></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=top style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'>(c) 2024 <b>Web</b>:</span><span lang=EN-US><a href="http://www.bullszimbabwe.com"><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'> www.bullszimbabwe.com </span></a></span><b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'>Email:</span></b><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'> </span><span lang=EN-US><a href="mailto:info@bulls.co.zw"><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:black'>bulls@bullszimbabwe.com</span></a></span><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'> <b>Tel:</b> +263 4 2927658 <b>Cell:</b> +263 77 344 1674<o:p></o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr><tr><td width=910 colspan=4 valign=bottom style='width:682.8pt;border:solid #BFBFBF 1.0pt;border-top:none;background:#F2F2F2;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif'><o:p> </o:p></span></p></td><td width=6 style='width:4.4pt;padding:0cm 0cm 0cm 0cm'><p class=MsoNormal style='line-height:105%'><span lang=EN-US style='font-family:"Verdana",sans-serif'> <o:p></o:p></span></p></td></tr></table></div><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p></div></body></html>