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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" src="cid:image001.png@01DA6A28.A62FAF70"></span></a></span><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><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%'><b><span lang=EN-US style='font-family:"Verdana",sans-serif;color:#002060'><o:p> </o:p></span></b></p><p class=MsoNormal style='margin-left:32.1pt;text-indent:7.5pt;line-height:105%'><span lang=EN-US><a href="http://www.bullszimbabwe.com"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Bullszimbabwe.com </span></b></a></span><b><span lang=EN-US 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style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'> </span></b></span><span lang=EN-US><a href="https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO"><b><span style='color:#70AD47;mso-fareast-language:EN-ZW;text-decoration:none'>WhatsApp</span></b></a></span><span class=MsoHyperlink><b><span lang=EN-US style='color:#70AD47;mso-fareast-language:EN-ZW;text-decoration:none'> </span></b></span><span lang=EN-US><a href="mailto:bulls@bullszimbabwe.com?subject=Unsubscribe"><b><span style='font-size:8.0pt;line-height:105%;font-family:"Verdana",sans-serif;color:#0070C0;text-decoration:none'>Unsubscribe</span></b></a></span><span class=style30><span lang=EN-US style='font-size:8.0pt;line-height:105%;color:#00B050'><o:p></o:p></span></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;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::: 28 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:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Tata confirms Somerset will host £4bn battery factory<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'>Apple unplugs self-driving electric car project, reports say<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 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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='mso-margin-top-alt:auto;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 align=center style='text-align:center;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 rowspan=3 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='margin-right:50.35pt;line-height:106%;background:white'><!--[if 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</v:shape><![endif]--><![if !vml]><a href="https://www.cloverleaf.co.zw/"><img border=0 width=424 height=509 src="cid:image003.jpg@01DA6A28.A62FAF70" 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'>N Africa: South Sudan's New Finance Minister Braving 'Ghosts' and Crocodiles</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='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A South Sudan minister has set out to eliminate 'ghost workers' from public payroll and vowed not to pay out a mountain of claims worth millions of dollars until the invoices are verified.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But things do not work like that. Dr Barnaba Bak Chol's determination to push ahead with the reforms and transformation of South Sudan's limping economy is simmering discontent among some powerful individuals who benefit from the schemes.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Yet coming as the country prepares for its first general elections in December, there is a feeling that it could all be a ruse by the ruling Sudan People's Liberation Movement party - whose leader President Salva Kiir says he will be on the ballot in the long-delayed elections.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Appointed finance and planning minister last August, Bak immediately declared it was the "right time" for economic transformation.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"If we unite and eliminate corruption, and equitably share our national resources, we can be one of the strongest economies," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It all sounded like a diaper dream in a nation Transparency International's corruption perception index gave a measly 13 percent in 2022 - only better than Somalia that scored 10.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Here is a restive nation where the gun is might and the youngest minister to ever assume the powerful docket of Finance and Planning Minister was talking of fighting ghosts, forensic audit and scrutiny of invoices.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But then Bak started walking the talk. He kicked out security organs that were involved in collecting illicit fees at the border town of Nimule, saying the levies were way too many and "much painful to importers and consumers".<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A typical South Sudan border post has customs, trade ministry, bureau of standards, and state revenue authority picking what belongs to Caesar.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But there would also be police's CID and traffic - all licking their fingers at the sight of goods in transit.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"There are so many collections at the border point, so I have taken the bold decision... we will have only four institutions at the border collecting taxes as authorised by the law," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The minister's bold stance has been akin to testing the depth of the river with both feet. In taking away mussels from the mouths of those who have been munching the public turkey, Bak has picked up a quarrel with a crocodile when his legs are still in the water.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"These people have been doing this for years, they have done this under every other past minister and no one has dared touch them," said a source in the South Sudan finance ministry.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But South Sudanese civil rights crusader and president of the East African Civil Society Organisation's Forum, Edmund Yakani, believes it is all rhetoric in action.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It is going to be very hard for the finance minister to carry comprehensive and concrete finance reforms in the ministry or the finance sector," Yakani said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said the reforms cannot work out because the whole system of finance and planning in South Sudan is not clean and low-level civil servants are deeply embedded in the corruption.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In their 2023 report, the U4 Anti-Corruption Resource Centre, said corruption in South Sudan is systemic across all levels of government and pervades nearly every economic sector.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Perpetrators enjoy widespread impunity," the report said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But Bak has moved to address overstaffing at the finance ministry. He has instituted screening and downsizing to enhance efficiency.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Restructuring is essential for optimal functionality. The screening process and subsequent capacity building are crucial steps in this direction," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Sickening turnover<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>As well the crocodiles in the murky waters he is trying to drain, Bak holds a docket that has arguably the worst turnover in the history of public office anywhere in the world.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Since independence in July 2011, President Kiir has appointed 11 finance ministers.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>There had been three more between 2005 - when the nation signed the Comprehensive Peace Agreement that ended decades of liberation war - and independence.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Only two-time finance minister Salvatore Garang Mabiordit has served for two years when he took over on March 12, 2018, until his sacking on March 12, 2020.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Gabriel Changson Chang suffered the ignominy of being dropped even before he had completed his welcome party on July 2, 2007.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He had been appointed in March.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Even as we speak now a former finance minister is lobbying to be reappointed to finance," a source said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In South Sudan, the finance ministry controls the economy, making it the centre of power and wealth. To be a finance minister means having all the resources at your disposal, with the revenue authority and the petroleum corporation, as well as the central bank, all under the ministry.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That boon is its bane, too. It is like a dining table where you are invited, you eat, wash your hands and leave. There is no hanging around to pick your teeth because someone else will be washing their hands to eat.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Dr John Akech, vice chancellor of the University of Juba, was candid during Bak's welcome at the ministry, telling the party to give the new minister just one year and "if he achieves anything, that's when can celebrate".<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Prof Akech has worked closely with Bak, who until his appointment was an assistant professor at the School of Business and Management at the University of Juba, for several years.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The ministry of finance is a machine that roll around bringing people happily in and spitting them out there," Akech said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Last year, the National Assembly had to suspend debate on the budget when Finance minister Dier Tong Ngor was fired.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The attrition bleeds the economy. For many ministers, like Prof Akech described, it becomes more about picking whatever you can lay your hands on before you are kicked in the next morning.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A finance minister hardly gets past the first circle of planning, or implementation of a project agreed upon with a development partner. The defenestration is quick and unforgiving.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Presidential Decree<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Bak said he would introduce an economic emergency intervention plan. He said it was a policy intended to fix the foreign exchange market by providing essential goods to lower inflation, and also to accelerate the implementation of public management financial reforms.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We must first have an efficient revenue mobilisation and an effective financial management system," said the former controller of accounts and director of finance in the Office of the President between 2008 and 2012.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Faced with crocodiles with himself in the swamp to drain, Bak secured a golden seal of backing - at least on paper.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On January 25, Kiir issued a Presidential Decree to the Ministries of Finance and Planning, and Public Service to implement a National Payment System.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The National Payment System shall include screening of pay sheets, production of financial identification cards and other procedures deemed necessary to ensure the salaries of civil servants and members of the SSPDF and other organised forces are paid on time and that ghost names are removed from the national payroll," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Under the biometric system, electronic payroll ID will be used by every public servant to draw salary.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Several efforts in the last decade to implement the system - backed by the World Bank and donor agencies - have failed.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>For instance, on March 2, 2022, the World Bank approved $34 million in International Development Association grant to support a five-year Public Financial Management and Institutional Strengthening Project in South Sudan.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Indication is that powerful persons live in the million-dollar industry of ghost workers and frustrate any efforts geared at cleansing the public payroll.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Yakani said the high level of misuse, misallocation and embezzlement of public funds will make financing elections harder and likely raise elections-related corruption.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In 2013, Al Jazeera reported that a probe into police had uncovered 11,000 fake names on the payroll.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"A further 16,000 names were being investigated, meaning half the force on the payroll may be fictitious," then Interior Minister Aleu Ayeny Aleu told reporters.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In 2022, then public service minister Joseph Bangasi Bakosoro revealed that the government payroll system had been bleeding from irregularities for years. He cited reports of non-existent workers appearing on payroll and receiving monthly salaries via forged signatures.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In the biometric system, South Sudan hopes for public financial management reforms, strengthening key oversight institutions, and improving budget transparency.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We have a lot of employees who are not registered... we are trying to go biometric to make sure that the government pays the right people," said Bakosoro, now the minister for the presidency.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>President Kiir's Decree also supports Bak's war on corruption where he has been faced with thousands of financial claims worth millions of dollars. Bak insists on verifying every invoice.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The Ministry of Finance and Planning shall establish an independent committee to verify and investigate all the national claims and propose ways in which these claims shall be paid," Kiir ordered in the decree that directed all government institutions to comply.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Yakani feels there is posturing at play because the 'real' political leadership is not supportive of the fight against corruption.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In a way, he could be right, because Juba indicate that Kiir is already rubbing his hat uneasily over Bak's handling of the ministry.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>With elections nine months away, the finance ministry will be a trump card the ruling party will want to see working. Whether the working desired is Bak's style is what remains to be seen.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>- Nile Post.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>South Africa: Small-Scale Fishers Could Be Allowed to Catch New Species<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Small-scale fishers in the Western Cape could be allowed to catch new species, the Department of Forestry, Fisheries and the Environment has said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Department is finalising policy for the small-scale sector in the Western Cape.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Small-scale fishing cooperatives must be sustainable, Abongile Ngqongwa, deputy director of small-scale fisheries management, told Parliament on Tuesday. He said most resources had been declining and the department's objective was to ensure the fishers were supported and the cooperatives were "operational".<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said the department would examine what should still be allocated to the small-scale sector. Some species would be shared with the commercial sector. "That will need to be a fair process moving forward," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>So far, 62 small-scale fishing cooperatives in the Western Cape have been registered with the Companies and Intellectual Property Commission (CIPC). Long-awaited 15-year fishing rights were given to about 3,850 small-scale fishers in November 2023.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The finalisation of these rights had been delayed in the Western Cape for several years, after the 2016-19 rights allocation was set aside and the process restarted. Rights had already been allocated to fishers and cooperatives in the Northern Cape, Eastern Cape, and KwaZulu-Natal.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Deputy director-general of fisheries management Sue Middleton told Parliament that species allocated to small-scale fishing cooperatives included squid, West Coast rock lobster, seaweed, hake handline, linefish, oysters, and white mussels. She said there had been suggestions that the basket of species should be enlarged. The department was "welcoming any suggestions", she said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Middleton also said the department is setting up a three-year programme of mentors to support cooperatives with business and financial management.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>MP Hannah Shameema Winkler (DA) asked what the department had learned from the "botched process" of allocating fishing rights. She said it "doesn't cast a favourable light on the department that we constantly have to endure these massive challenges when it comes to fishing rights allocation" and added that it "erodes the integrity" and "trust" of the fishers.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>MP Nazier Paulsen (EFF) said that it is important that mentors assist the cooperatives because running the cooperatives would be "complex".<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>- GroundUp.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: International Oil Companies Not Leaving Nigeria - Minister<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"I want to use this opportunity to assure everyone that no IOC is leaving Nigeria. They are only going deep offshore," Mr Lokpobiri said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Nigerian government on Tuesday said international oil companies (IOCs) are not leaving the country but only shifting their portfolio and further investments to deep offshore.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria's Minister for State, Petroleum Resources (Oil), Heineken Lokpobiri, disclosed this at the opening ceremony of the 7th edition of the Nigeria International Energy Summit (NIES 2024) held at the presidential banquet hall in Abuja on Tuesday.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"I want to use this opportunity to assure everyone that no IOC is leaving Nigeria. They are only going deep offshore," Mr Lokpobiri said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The minister noted that the divestments by some international oil companies are a win-win situation as the IOCs are making further investments in the deep offshore thereby making room for indigenous companies to develop capacity within the onshore and shallow waters space.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It is imperative to note that we are strategically managing the divestment processes. Our commitment to enhancing our crude oil reserves and production is unwavering, and we are actively exploring innovative solutions to attract investment, optimize operations, and foster sustainable growth. We are open for business and ready to welcome your investments," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Lokpobiri added that the transition to cleaner and more sustainable energy sources is inevitable.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We are actively pursuing initiatives to position Nigeria as a leader in this energy transition. As we navigate this change, Nigeria recognizes the need to strike a balance between meeting our growing energy demand and reducing our carbon footprint.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The diversification of our energy mix, investments in renewable energy, and the adoption of cleaner technologies are all integral components of our strategy," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He explained that in comparison to the global decline of investments in the oil and gas industry between 2017 and 2022, investments in Nigeria declined by 69 per cent when compared to the 28 per cent global average decline.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"To further buttress the above, the capital investment to reserve ratio shows the amount of capital deployed to a country's available reserves. Nigeria has an abysmal capital investment-to-reserve ratio of 5 per cent compared to Angola (46 per cent), Brazil (115 per cent), Mozambique (92 per cent) and Guyana (617 per cent).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The window for attracting new investments and exploring our vast reserves is fast narrowing. If the global energy transition accelerates, approximately 60 per cent of Nigeria's reserves could be uncompetitive to produce.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Against this backdrop, we have identified that there are so many licenses with proven reserves that are not being optimized in the hands of IOCs, NOC, and others. In line with Mr. President's Renewed Hope agenda, we are working on changing this narrative," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said one of the easiest ways to solve the current foreign exchange challenges faced in the country is to aggressively increase production which will in turn bring in additional revenue for the government.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The additional crude produced will serve as a feedstock to our state-owned, private, and modular refineries. Thereby changing the narrative of Nigeria being a major refined petroleum products importer to an export hub. The time to act is now. We need to take bold and decisive actions to harness the vast hydrocarbon resources," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The minister noted that no country is slowing down fossil fuel exploration and production.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Recall that only recently, the UK government awarded over 100 licenses for exploration in the North Sea; furthermore, the United States of America being the highest producer of oil today is also ramping up production. No country is reducing production.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"As a government, ours is to provide a business-friendly and enabling environment for potential investors. This is what we are doing, and we are resolute in removing all bottlenecks, disincentives, and impediments preventing inflows of such investment. This is the whole essence of the PIA 2021," the minister said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Also speaking, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mele Kyari, explained that the role of the company in the divestment of international oil companies from onshore and shallow water assets in the country is that of a facilitator and not an obstacle.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He further explained that by virtue of its statutory mandate as the enabler of national energy security, NNPC Ltd's role is to ensure that there is optimal and sustainable production from the divested assets to guarantee energy security for the benefit of Nigerians.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He assured stakeholders of the company's commitment to work with them to close the energy deficit gap and create prosperity for Nigerians, adding that from all indications, all issues of energy scarcity in the country would be over in the next 10 years.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Ethiopia: Tigray Electric Service to Fully Restore in June<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>ADDIS ABABA - The Tigray State Electric Utility said the restoration of war-damaged power lines and other electric infrastructure is set to be completed in the coming June.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Utility's CEO Mesfin Geberemedhin told the Ethiopian Press Agency (EPA) that the Ethiopian Electric Utility (EEU) has allocated 1.7 billion Birr to repair Tigray's electric infrastructure that was severely damaged by the past war in the state. The war has damaged the electric infrastructure built across Tigray but efforts have been made to overcome the problems and ensure the service provision.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>While the replacement of wooden electric poles with concrete ones is well underway, the utility has formed a close partnership with the EEU to complete the rehabilitation of the damaged power lines and to restore the disconnected system.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The CEO also stated that the utility has managed to erect 11, 000 concrete poles out of the 16,000 in plan and to install a significant length of power lines and make the infrastructure ready to transfer electricity.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Along with this, the utility has been building electrical infrastructure in 33 districts of Tigray and has carried out consolidated activities to fill the state's electric service provision gaps.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According Mesfin, a total of 38 electrical sites have been damaged due to the war including big projects in Axum, Shire, Adigrat, Edaga Hamus, Wukero Tsgereda, Mayechew, Adi Shuhu, and others.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Moreover, the limited availability of concrete poles remains a serious problem that is hindering to expediting of the restoration activities. "To address such challenges, we have formed a strong collaboration with the EEU," he remarked.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Due to the prevalence of relative peace in Tigray, consolidated efforts have been made to restore essential infrastructure including electric lines that were damaged by war.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>MESERET BEHAILU<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>THE ETHIOPIAN HERALD TUESDAY 27 FEBRUARY 2024<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Namibia: Nam Found Wanting By Finance Watchdog<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Ineffective implementation of compliance with international anti-money laundering (AML), combatting the financing of terrorism (CFT), and combating proliferation financing (CPF) standards have led to Namibia being greylisted by the Financial Action Task Force (FATF).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Namibia is now placed under increased monitoring. This was confirmed by central bank (BoN) governor Johannes !Gawaxab last week."Despite Namibia's substantial progress, the FATF found Namibia wanting in AML/CFT/CPF effectiveness in six of the 11 immediate outcomes, assessed around effectiveness. Effectiveness compliance focus on a country's ability to demonstrate an effective framework for protecting the financial system from AML/CTF/CPF abuse, considering the specific risks it faces," said !Gawaxab in a statement last week. A country that is greylisted is an indication that FATF, an international financial watchdog, has identified strategic deficiencies in applicable systems to counter financial crimes. Greylisting means a country is under increased monitoring due to a lack of policies and procedures to deal with AML, CFT and CPF. !Gawaxab further stated that Namibia made significant strides in addressing all the technical compliance shortcomings through the amendment of existing laws and introduction of new legislation. Notably, nine existing laws were amended, two laws were repealed and replaced, and two new laws were introduced that were previously absent from the Namibian legislative framework.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Out of 72 recommended actions, Namibia made progress by addressing 59 action items. However, 13 action items within the domain of six national AML/CFT/CPF combatting stakeholders remain outstanding, requiring urgent attention. To ensure Namibia and the identified risk combatting stakeholders timeously address remaining identified shortcomings, the FATF prescribed an agreed-upon action plan, outlining specific measures to be implemented. Recognising the urgency of the situation, the national focal committee, comprising representatives from public and private sector stakeholders, will enable an execution plan and ensure timeous address of the outstanding action items.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>!Gawaxab did not hesitate to highlight that the greylisting has various ramifications for Namibia, including potential negative effects on foreign direct investment, trade, and financial activities. According to IMF guidelines, an FATF greylisting has a negative impact on the GDP of a listed country by up to 6%. Entities doing business with Namibia may also be forced to do additional due diligence, which could result in higher expenses and scrutiny. "Despite the greylisting, Namibia's financial system remains sound, stable, and well capitalised. With robust due diligence measures in place, transactions between Namibia and the global community will continue to be safeguarded. Businesses and citizens can proceed with confidence in conducting transactions internationally," !Gawaxab added. According to the financial stability report for 2022 released by the Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (Namfisa), the financial system in Namibia remains sound and profitable overall.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>- New Era.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Namibia: City of Windhoek Crafts Recovery Plan...Aimed At Securing Long-Term Financial Sustainability<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>City of Windhoek CEO Moses Matyayi has assured the City's stakeholders, partners, and the residents that for now and in the foreseeable future, the capital city is "a going concern". This is an accounting term describing a business that is expected to operate for the foreseeable future, typically at least for the next 12 months. The term assumes that entity in question can generate sufficient income to meet its obligations and is financially stable to continue its operations indefinitely until evidence suggests otherwise.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We are actively crafting a financial recovery plan aimed at securing long-term financial sustainability. Our focus is not only on developing a robust strategy but also on ensuring its effective execution to achieve our goals in line with the strategic plan 2022- 2027," the CEO stated.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Matyayi was responding to the Auditor General (AG) Junias Kandjeke's conclusion of a qualified audit opinion for the 2020/2021 financial audit report that was recently tabled in Parliament. In the report, Kandjeke cautioned that the City does not have a solid plan on how it is going to turn around commercial insolvency and its current deficit-making position in the foreseeable future. The report was compiled in September 2023.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The financial statements present fairly, in all material respects, the financial position of the Municipality of Windhoek as at 30 June 2021, and its financial performance and its cash flows for the year then ended," Kandjeke stated in the City's audit report, justifying the qualified audit opinion.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A qualified audit opinion is expressed when the auditor either obtains sufficient appropriate audit evidence, and concludes that misstatements, individually or in the aggregate, are material but not pervasive to the financial statements.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The City of Windhoek municipality accumulated a cumulative loss of N$3.2 billion between 2012 and 2022, a N$300 million wage bill, a N$100 million annual employee vehicle scheme, N$70 million losses on bus services, and a lifelong post-retirement medical aid scheme for which it spends N$27 million a year. The latter amount has been described as a growing liability, as it depends on the number of employees who go on retirement.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Meanwhile, the CEO continued that this is the first time in 12 years that the City received a qualified audit opinion. Therefore, he added, moving from a disclaimer audit opinion to a qualified audit opinion represents significant progress in financial reporting.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"These results are an indication that the organisation has been occupied with addressing previous operational uncertainties and financial deficiencies, which has now resulted in improved transparency and reliability of the financial statements to date," Matyayi explained.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>According to him, the City has made significant strides over the last two financial years, which include effectively containing expenditure. He placed specific emphasis on employment cost and that no salary increases were granted in the last four years since 2020, despite the economic hardship experienced over this period.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>As a result of these efforts, Matyayi noted that current liquidity has improved further when excluding government loans.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>- New Era.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Botswana: Using Technology to Fight Food Insecurity in Botswana<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Tumo Kgabeng's agritech solution uses drones to track pests, diseases and soil quality and recommends treatments.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr. Kgabeng, 24, is co-founder of Anton Tech - an AI research company that seeks to transform the agriculture industry. He spoke to Nathan Hastings-Spaine for Africa Renewal about his start-up:<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Many brilliant ideas never come to pass because someone was afraid to go out and offer their solution to the world. Lose your fear of failure because it is part of the process.Tumo KgabengChief Technical Officer at Anton Tech in Botswana Could you please share some insights about yourself, such as your background, experiences , and interests?<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>My name is Tumo Kgabeng. I come from Gaborone, Botswana, and I am the founder and chief technical officer of Anton Tech - an AI research company aimed at transforming the agriculture industry to address the looming threat of food security in Botswana.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>My journey in computer programming started at 14 years when I began teaching myself the basics of Python in junior school. By 17, I was pursuing my BSc in Computer Systems Engineering at Botswana Accountancy College, then I joined the developer communities at iCode Hub.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>During my time in college, I interacted with industry professionals, became a part of the broader developer community, and led a Google Developer Student Club (DSC).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In my second year, I started working in the industry as a React Engineering Developer for a company in Gaborone.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>When and how did you start this initiative?<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The idea to create Anton Tech came up during the Botho Hacks 2021 hackathon. The theme for that year's hackathon was 'Developing Technology to improve Life in Africa.'<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In Botswana, as in most African countries, we rely heavily on agriculture and mining. My team aspired to use technology to address some of the agricultural industry's challenges and contribute to the country's economic growth.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>After winning the hackathon and recognizing the project's potential, my co-founder Kesego Mokgosi and I continued working on Project Anton Tech and eventually launched it. We later partnered with Tlamelo Makati, our research lead, to further develop and scale our solution.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Anton Tech has since grown to become an AI research start-up. We have agreements with different corporates and parastatals to conduct research and help fill the data gaps in the agriculture value chain.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>How does it work, and what problem does it solve?<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Despite advancing technologies, the methods of tracking transboundary pests, diseases, and soil organic carbon (SOC) levels have lagged. Today, the turnaround time for applying expert advice can take months. Several time-intensive steps occur before a farmer can respond to an outbreak, including field scouting, detecting pests and diseases, and determining appropriate interventions.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Additionally, manual and paper-based reporting of farm visits by agronomists means data is captured in an unusable format for aggregation and analytics. Consequently, it is difficult to identify patterns and trends across the value chain. All these factors reduce yield, productivity, and profitability for farmers.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Project Anton Tech is a deep-learning Agritech solution that uses image data from drones, satellites, or other devices with a camera to detect pests and diseases, predict soil organic carbon levels, and give recommendations on the treatments or appropriate interventions to apply.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>How the technology works:<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Realtime crop and animal disease detection:<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Users take a picture of the plant and send it to Anton Tech via WhatsApp, Facebook Messenger, Twitter, or MMS.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The neural networks analyze the image using data from verified sources about diseases<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>We then respond with the disease name and treatment recommendation.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>We decided to integrate Project Anton Tech with some existing platforms like WhatsApp, Facebook Messenger, and Twitter before rolling out our standalone mobile phone App to make access as frictionless as possible.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Precision farming:<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>We use drones to collect data at scale and help farmers with precision farming.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Through drones, we help farmers identify which specific area of their farm needs treatment. Established farmers with 500 or more hectares of crops tend to spray herbicides and pesticides across the whole farm instead of targeting the portion that has the disease.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Centralized data analytics:<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>We built an analytics dashboard allowing parastatals to digitize and aggregate their data. Government parastatals have long worked with the farmers and collected data on them, but it was unusable.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Our reporting dashboard lets them visualize Key Performance Indicators (KPIs) and identify patterns and trends across the value chain.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>What are the challenges and successes you have faced so far? What should be done to solve this?<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Our major challenge is getting the relevant stakeholders in the value chain to adopt the technology. Even though Project Anton Tech can bring productivity to the value chain, getting people to migrate there takes time and effort.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Our approach to building trust within the industry is conducting demos demonstrating how Project Anton works.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>What is your message to the young people in Africa?<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Don't be afraid to fail. We learn more from our losses than our wins.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Many brilliant ideas never come to pass because someone was afraid to go out and offer their solution to the world. Lose your fear of failure because it is part of the process.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Whatever solution you have, put it out there and continue to iterate on it based on the feedback you get from users. That is how we improve as innovators and drive toward a better Africa.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>- Africa Renewal.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Nigeria: 4,000 Benefit From Sale of Seized Rice<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Over 4,000 persons in Lagos, on Friday, benefited from the sale of rice seized by the Nigerian Customs Service (NCS).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Leadership reports that Comptroller-General of the NCS, Bashir Adewale Adeniyi, had on Thursday directed that the seized rice be sold to members of the public at a subsidised rate of N10,000 per 25kg bag.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He directed that beneficiaries must produce their National Identification Number to benefit.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Addressing pressure groups, religious leaders and other beneficiaries of the gesture, Adeniyi pleaded with them not to divert the rice to markets.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He assured that more Nigerians would benefit from the gesture as the rice would be sold at subsidised rate at all Customs commands in the country.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said the federal government instructed that the less-privileged be given priority in the sale of the rice.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Some of the beneficiaries commended the federal government and the NCS for the kind gesture.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Operatives of the police, the Department of State Services, the Nigerian Army and those of the Lagos State Traffic Management Authority provided security at the sales venue.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Beneficiaries included artisans, teachers, religious bodies, physically-challenged persons and street sweepers.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A physically-challenged beneficiary, Taiwo Lawal, broke down in tears while appreciating the federal government for the gesture.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"This has never happened in the history of Nigeria where the majority of Nigerians will benefit from relief items genuinely and without discrimination.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"If the government engages in more of this gesture, prices of goods will reduce and common people will be able to afford them," Lawal said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Another vulnerable person, Amdalat Balogun, who lost her sight at birth, said she got the news on radio and quickly borrowed N10,000 from her neighbour to enable her to benefit from the gesture.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Balogun said she bought the rice preparatory to the forthcoming month of fasting by Muslims and expressed appreciation of the NCS and the federal government.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>She pleaded with the government to sell more subsidised food items to sustain the lives and livelihood of ordinary Nigerians.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In his remarks, Chief Imam of Magodo Phase 2, Central Mosque, Lagos, Imam Abdul-Semiu Kelani, thanked the government and prayed for the success of the present administration.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He noted that the government's gesture would go a long way to ease the hardship of Nigerians.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A cleric, Emmanuel Omoroke of St. Louis Catholic Church, bought rice on behalf of indigent members of the church and also commended the government for the gesture.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A street sweeper engaged by the Lagos State Waste Management Authority, Mrs Morufat Bello, also appreciated the government's gesture after she bought the rice.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A nonagenarian, Mrs Adeke Lateef, whose grandchild took to the sales point prayed for successes for the government and urged it to do more.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Country Garden: China property giant hit with winding-up petition<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>China's biggest private property developer Country Garden is facing a winding-up petition, which has been filed in Hong Kong by a creditor.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>A firm called Ever Credit Ltd filed the case for non-payment of a loan worth HK$1.6bn ($204.5m; £161.2m).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Country Garden, which defaulted on its overseas debt in October, says it will "resolutely oppose" the petition.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Last month, rival real estate giant China Evergrande was ordered to liquidate by a Hong Kong court.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The court has set the first hearing date for the petition on 17 May, Country Garden said in a statement to the Hong Kong Stock Exchange.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Ever Credit is a unit of Kingboard Holdings, a laminates maker and property investor.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Shares in Country Garden fell more than 10% in early Hong Kong trade following the announcement.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Country Garden did not immediately respond to a BBC request for comment.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The filing of winding-up petition against Country Garden is not surprising for us," Jason Sze from personal finance firm iFAST Financial told the BBC.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It comes a month after Evergrande, the world's most indebted property developer, was ordered to be liquidated by a Hong Kong court.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The firm has been the poster child of China's real estate crisis with more than $300bn (£236bn) of debt.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Liquidators have been appointed to look at Evergrande's overall financial position and identify potential restructuring strategies.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That could include seizing and selling off assets, so that the proceeds can be used to repay outstanding debts.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>However, the Chinese government may be reluctant to see work halt on property developments in China, where many ordinary would-be homeowners are waiting for apartments they have already paid for.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Sze does not expect Country Garden to face a forced liquidation order like Evergrande.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We believe that the company will launch an offshore debt restructuring plan as soon as possible to fend off the winding-up petition and settle the defaulted debts," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Problems in China's property market are having a major impact as the sector accounts for a third of the economy.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The industry has been facing a major financial squeeze since 2021, when authorities introduced measures to curb the amount big real estate companies could borrow.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Since then several large property developers have defaulted on their debts in the last few years.-bbc<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Tata confirms Somerset will host £4bn battery factory<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The future site of the the UK's biggest electric vehicle battery manufacturing facility has been confirmed.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Jaguar Land Rover-owner Tata says it will invest £4bn in a brownfield site near Bridgwater in Somerset.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The government previously announced the flagship battery factory would be built in the UK, but this is the first official confirmation of the site.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The new plant is expected to create 4,000 jobs and thousands more in the supply chain.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Tata says battery production is set to begin there in 2026.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Agratas - Tata Group's global battery business - has confirmed it will build the factory, its first outside India, at the Gravity Smart Campus in Puriton.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The site was a Royal Ordnance Factory from World War Two until it was decommissioned in 2008.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Agratas will be the first occupier on the site, taking around 50% of the land.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It said by the early 2030s it will contribute almost half of the projected battery manufacturing capacity required for the UK automotive sector.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The factory will produce 40GWh of battery cells annually, enough to supply approximately 500,000 passenger vehicles.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Emma Rawlings, chief executive of the Somerset Chamber of Commerce, said the development will bring opportunities for the area.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"As the county chamber of commerce, we're really pleased that this will bring opportunities for our businesses across Somerset and the region," she said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It's really pertinent that we are leading in terms of the supply chain.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Our supply chain are already geared up for what we've done with Hinkley and we can upscale that."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The new gigafactory will be located 15.3 miles (24km) from the Hinkley Point C nuclear power station.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The gigafactory will be one of the largest in Europe and will initially make batteries for Jaguar Land Rover vehicles like Range Rover, the Defender and the Jaguar brands.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But the plan is to also supply other car manufacturers as well as producing commercial energy storage.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Tom Flack, CEO, Agratas, said: "We care deeply about the communities we operate in, so it's imperative to us that we work with, and listen to, our new neighbours as we build our factory in Somerset."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The company has set up a Whatsapp channel for local people and thousands of residents are due to receive a leaflet in the post from the company this week.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The official confirmation of the site and the jobs it will bring has been welcomed in Somerset.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Martin Bellamy, Chairman of Gravity said: "It's impossible to overstate how important this is for the UK. It is the catalyst to kick-start the electric vehicle revolution in the UK.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Andy Berry, Principal of Bridgwater and Taunton College, said he was "delighted" with the news.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He said: "We've got a great deal of experience in workforce development - big infrastructure projects like Hinkley Point C.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"We can draw on that experience. We've been here and we've done this and Agratas can be tremendously confident in our community and in our workforce."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Councillor Bill Revans, Leader of Somerset Council, said: "This is momentous for the county, its economy and for future generations.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It's about seizing an incredible opportunity to be at the heart of the UK's green energy industry that will create thousands of highly-skilled, well-paid, green jobs."-bbc<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Apple unplugs self-driving electric car project, reports say<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Apple has reportedly cancelled its plans to build electric vehicles (EV) a decade after the iPhone maker was rumoured to be working on the project.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The firm has never publicly acknowledged the project, which involves around two thousand people.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Many employees from the project will be moved to the iPhone maker's artificial intelligence (AI) division, according to Bloomberg News.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Apple did not immediately respond to a BBC request for a comment.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The Apple car team was reportedly known as the Special Projects Group as part of its chief executive Tim Cook's Project Titan.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>As it spent billions of dollars on research and development, the company was initially rumoured to be working on a fully autonomous vehicle without a steering wheel and pedals.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The team was understood to still be years away from producing a vehicle.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"This is a smart and long awaited decision," Ray Wang, founder and chief executive of Silicon Valley-based consultancy Constellation Research told the BBC.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"The market demand for EVs is not there and AI is where all the action is," he added.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Apple has been exploring other opportunities beyond the iPhone and computers, including its recently launched Vision Pro virtual reality headset.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Research firm Counterpoint highlighted that the decision came as the market for AI in consumer electronics is growing sharply.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Preliminary data suggests shipments of generative AI smartphones will exceed 100 million units in 2024," said its senior analyst, Ivan Lam.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Counterpoint predicts that number could hit more than 500 million by 2027.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Demand for EVs has slowed in recent month as borrowing costs remain high, which has made the market increasingly competitive as major players try to win over customers.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In recent months, US motor industry giants Ford and General Motors have postponed plans to expand EV production.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Last week, electric truck maker Rivian announced it would cut its workforce by 10% and said it did not expect any growth in its production this year.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In January, Tesla warned that its sales growth would be weaker this year than in 2023.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The company, which is led by multi-billionaire Elon Musk, has been cutting prices in key markets around the world, including Europe and China, as it faces tough competition from Chinese rivals such as BYD.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mr Musk responded on the social media platform X, formerly known as Twitter, to a report that the Apple project was being wound down with emojis of a salute and a cigarette.-bbc<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>More music leaving TikTok over Universal Music row<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>TikTok says it has started removing more music from its platform as part of a continuing row over royalties with Universal Music Group (UMG).<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The app has already silenced songs by artists signed to the label, but is now having to do the same with writers too.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>This means that videos featuring songs by artists such as Harry Styles and Adele, who have written with Universal-signed artists, could soon be muted.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>TikTok says up to 30% of what it calls "popular songs" could be lost.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But some industry estimates say up to 80% of all music on TikTok could be muted.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That's because of something called "split copyrights". In other words, if a songwriter signed to Universal Music's publishing arm has contributed even a tiny part to a song, that entire recording will, in theory, have to come down.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>That would include songs by artists on other labels, including the two remaining majors, Sony and Warner, and hundreds of independents.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Universal's music was licensed to TikTok until earlier this year - but they let the license lapse after failing to reach an agreement over how much the app should pay artists.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>As a result, the label's recording catalogue, which is around three million songs, was removed at the start of February.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The publishing catalogue deal runs out at the end of the week, which means another four million songs are expected to be pulled from the platform.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Universal has accused TikTok of "bullying" them by wanting to pay a "fraction" of the rate other platforms do for their music.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>UMG says that just 1% of their total revenue comes from the platform, which is owned by Chinese company ByteDance, despite having more than one billion users.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>TikTok said Universal was presenting a "false narrative and rhetoric".<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Music is a big part of the appeal of TikTok - content creators often add songs to their videos.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The app has also become a tool for artists to gain popularity and get their songs heard - there's even a TikTok Billboard top 50 chart in the US, which is calculated from user engagement.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Songs have been used to create viral moments like dance trends or challenges, popular musicians have embraced the platform to feel closer to fans and new artists have broken through to mainstream success as a result of it.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Mae Stephens, a 20-year-old from Kettering, quit her job at a supermarket and signed to a record label after her song If We Ever Broke Up went viral on TikTok.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>She told the BBC, "It's a bit of shock to be honest, I still can't believe everything that happened to me."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The row over royalties has raised concerns that artists who found a fanbase on TikTok before signing to a major label will no longer be able to capitalise on their following.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Cody Fry, an artist signed to a record label owned by UMG, said in a TikTok video he felt "like a person standing between two colliding planets" - having seen reports about the licensing agreement expiring just as one of his tracks was going viral in China.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>He told the BBC that he thought TikTok should "value music more than it does currently" and he wished the two companies could have resolved their differences without "leaving it to the expense of artists on the ground".<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But pop star Kim Petras, whose music has been muted on the platform, says she supports Universal's position.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"I feel very protected by Universal," she told the BBC last week. "I know people who have number one records and can't afford their rent, so I'm proud Universal is taking a stand.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"Of course, right now, all of us Universal artists are screwed a little bit, but you've gotta take one for the team. The intentions are noble."-bbc<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;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='margin-right:50.35pt;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='margin-right:50.35pt;line-height:106%;background:white'><b><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Why Google's 'woke' AI problem won't be an easy fix<o:p></o:p></span></b></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>In the last few days, Google's artificial intelligence (AI) tool Gemini has had what is best described as an absolute kicking online.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Gemini has been thrown onto a rather large bonfire: the culture war which rages between left- and right- leaning communities.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Gemini is essentially Google's version of the viral chatbot ChatGPT. It can answer questions in text form, and it can also generate pictures in response to text prompts.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Initially, a viral post showed this recently launched AI image generator (which was only available in the US) create an image of the US Founding Fathers which inaccurately included a black man.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Gemini also generated German soldiers from World War Two, incorrectly featuring a black man and Asian woman.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Google apologised, and immediately "paused" the tool, writing in a blog post that it was "missing the mark".<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But it didn't end there - its over-politically correct responses kept on coming, this time from the text version.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Gemini replied that there was "no right or wrong answer" to a question about whether Elon Musk posting memes on X was worse than Hitler killing millions of people.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>When asked if it would be OK to misgender the high-profile trans woman Caitlin Jenner if it was the only way to avoid nuclear apocalypse, it replied that this would "never" be acceptable.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Jenner herself responded and said actually, yes, she would be alright about it in these circumstances.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Elon Musk, posting on his own platform, X, described Gemini's responses as "extremely alarming" given that the tool would be embedded into Google's other products, collectively used by billions of people.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>I asked Google whether it intended to pause Gemini altogether. After a very long pause, I was told the firm had no comment. I suspect it's not a fun time to be working in the public relations department.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Biased data<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It appears that in trying to solve one problem - bias - the tech giant has created another: output which tries so hard to be politically correct that it ends up being absurd.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The explanation for why this has happened lies in the enormous amounts of data AI tools are trained on.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Much of it is publicly available - on the internet, which we know contains all sorts of biases.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Traditionally images of doctors, for example, are more likely to feature men. Images of cleaners on the other hand are more likely to be women.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>AI tools trained with this data have made embarrassing mistakes in the past, such as concluding that only men had high powered jobs, or not recognising black faces as human.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It is also no secret that historical storytelling has tended to feature, and come from, men, omitting women's roles from stories about the past.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>It looks like Google has actively tried to offset all this messy human bias with instructions for Gemini not make those assumptions.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But it has backfired precisely because human history and culture are not that simple: there are nuances which we know instinctively and machines do not.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Unless you specifically programme an AI tool to know that, for example, Nazis and founding fathers weren't black, it won't make that distinction.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On Monday, the co-founder of DeepMind, Demis Hassabis, an AI firm acquired by Google, said fixing the image generator would take a matter of weeks.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But other AI experts aren't so sure.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"There really is no easy fix, because there's no single answer to what the outputs should be," said Dr Sasha Luccioni, a research scientist at Huggingface.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"People in the AI ethics community have been working on possible ways to address this for years."<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>One solution, she added, could include asking users for their input, such as "how diverse would you like your image to be?" but that in itself clearly comes with its own red flags.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"It's a bit presumptuous of Google to say they will 'fix' the issue in a few weeks. But they will have to do something," she said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Professor Alan Woodward, a computer scientist at Surrey University, said it sounded like the problem was likely to be "quite deeply embedded" both in the training data and overlying algorithms - and that would be difficult to unpick.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>"What you're witnessing... is why there will still need to be a human in the loop for any system where the output is relied upon as ground truth," he said.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>Bard behaviour<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>From the moment Google launched Gemini, which was then known as Bard, it has been extremely nervous about it. Despite the runaway success of its rival ChatGPT, it was one of the most muted launches I've ever been invited to. Just me, on a Zoom call, with a couple of Google execs who were keen to stress its limitations.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>And even that went awry - it turned out that Bard had incorrectly answered a question about space in its own publicity material.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>The rest of the tech sector seems pretty bemused by what's happening.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>They are all grappling with the same issue. Rosie Campbell, Policy Manager at ChatGPT creator OpenAI, was interviewed earlier this month for a blog which stated that at OpenAI even once bias is identified, correcting it is difficult - and requires human input.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>But it looks like Google has chosen a rather clunky way of attempting to correct old prejudices. And in doing so it has unintentionally created a whole set of new ones.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>On paper, Google has a considerable lead in the AI race. It makes and supplies its own AI chips, it owns its own cloud network (essential for AI processing), it has access to shedloads of data and it also has a gigantic user base. It hires world-class AI talent, and its AI work is universally well-regarded.<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'>As one senior exec from a rival tech giant put it to me: watching Gemini's missteps feels like watching defeat snatched from the jaws of victory.-bc<o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><span style='font-family:"Verdana",sans-serif;color:#222222;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='margin-right:50.35pt;line-height:106%;background:white'><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'><span lang=X-NONE style='mso-fareast-language:EN-ZW'> </span><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:10.5pt;line-height:106%;font-family:"Courier New";color:black;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:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Cellphone: +263 71 944 1674 | +27 79 993 5557 </span><span lang=EN-US style='font-size:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;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:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Email: </span><span lang=EN-US><a href="mailto:bulls@bullszimbabwe.com"><span style='font-size:10.5pt;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:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;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:10.5pt;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:10.5pt;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:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;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:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Blog: </span><span lang=EN-US><a href="http://www.bullszimbabwe.com/blog"><span style='font-size:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>www.bullszimbabwe.com/blog</span></a></span><span lang=EN-US style='font-size:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;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:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>Twitter (X): @bullsbears2010<o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;mso-fareast-language:EN-ZW'>LinkedIn: Bulls n Bears Zimbabwe<o:p></o:p></span></p><p class=MsoNormal style='line-height:106%;background:white'><span lang=EN-US style='font-size:10.5pt;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.facebook.com/BullsBearsZimbabwe"><span style='font-size:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;mso-fareast-language:EN-ZW'>www.facebook.com/BullsBearsZimbabwe</span></a></span><span lang=EN-US style='font-size:10.5pt;line-height:106%;font-family:"Verdana",sans-serif;color:black;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@01DA6A28.A62FAF70"><!--[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>Nampak<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'>AGM<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>Virtual (FTS Platform)<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'>28 Feb 9am<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>Art<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'>AGM<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>virtual (escrow platform)<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'>March 7. 2:30<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'>2024 auction tobacco marketing season opens<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'>13 march<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'>Good Friday<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'>march 29<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'>Easter Monday<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'>1 April<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'>Independence Day<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'>April 18<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'>Workers day<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'>1 May<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@01DA6A28.A62FAF70"></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:106%'><span lang=EN-GB style='mso-fareast-language:EN-ZW'> (c) 2024 Web: </span><span lang=EN-US><a href="http://www.bullszimbabwe.com"><span lang=EN-GB style='mso-fareast-language:EN-ZW'>www.bullszimbabwe.com</span></a></span><span lang=EN-GB style='mso-fareast-language:EN-ZW'> Email: </span><span lang=EN-US><a href="mailto:bulls@bullszimbabwe.com"><span lang=EN-GB style='mso-fareast-language:EN-ZW'>bulls@bullszimbabwe.com</span></a></span><span lang=EN-GB style='mso-fareast-language:EN-ZW'> Tel: +27 79 993 5557 | +263 71 944 1674</span><span lang=EN-US style='mso-fareast-language:EN-ZW'><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>