Good morning, welcome to the African Bank interim results. We're delighted that you could make time to listen to our story and our journey through Excelerate 25. Our presentation today is structured into three parts. Part A, I'll be covering the overview of the organization, where we are in our strategy execution, and also introducing for the first time, our Consumer Banking and Business Banking divisions. I will then invite on stage Chrisanthi, our Acting Joint Group CFO, to take us through the financial analysis, and then we'll wrap up with comments on looking ahead. African Bank is a story of audacity. It is an idea whose time has come. Audacity is very much part of our DNA at African Bank, and this is because the dream of a bank for the people, by the people, serving the people is what birthed African Bank. It is a vision that is nurtured through our audacity to believe, it is imprinted in the DNA of African bankers, our customers, our stakeholders, and all those that have been in this journey with us for over 48 years. Excelerate25 is a strategy, a roadmap that is both inspired by our heritage and a vision of our future. It aims to entrench this mindset to our stakeholders, to our people, to our customers, a mindset to have an audacity to believe. African Bank is that bank. It is that bank that has stood the test of time, whose heritage is imprinted in the hearts and minds of our customers and African bankers alike. It is that bank that believes in the undoubted potential of our people, the bank with a soul. It is a bank committed to overcome South Africa's challenges by supporting entrepreneurs from every walk of life. It is those entrepreneurs who founded this bank in 1964. It is a bank that believes in strategic partnerships, and that through collaboration we can unlock multiple opportunities to achieve more for our customers and our communities. Excelerate25 is, as I've said, our roadmap, which we launched two years ago, round about this time. It is a direction of travel to achieve this ambitious vision of creating a bank for the people, by the people, serving the people. It is a strategy that will enable us to deliver a customer-centric data and digitally enabled, diversified business that's got scale, that is sustainable, and has got a compelling listing proposition within the next few years. We said at the time, at the launch of Excelerate25, that this strategy is anchored on two pillars. The first one being strengthening the core of what was then our existing customers, existing capabilities, and our existing resources. We went about digitizing our end-to-end customer journeys, stabilizing our IT systems so that they deliver stability and speed of delivery and cybersecurity. We went about to transform our sales force so that it can come with us as we were transitioning into a fully fledged retail bank. We also deliberately chose to optimize a hybrid distribution network that is connected from our digital direct sales into our physical branches. That's what we did over the last two years, and we continue to work hard at in strengthening the core of the main business that we've inherited. Over the last year, we are doing much more than just strengthening this core, we started to expand it. We're building an alliance in ecosystems through partners that are non-bank financial institutions, that are fintech providers, are value-added service providers, to expand into their capabilities, into their customer segments, and into new tech and capability out there. We'll speak a little bit more about Alliance Banking as an emerging focus area for us looking forward. We also spoke about expanding the core beyond just retail banking into Business Banking, where we want in addition to just being another business banker, we want to be digital at the core of our SMME offering, and looking forward and in support of our entrepreneurs. Excelerate25, launched two years ago. We are halfway through that journey to implementing this groundbreaking and transformational strategy. We'll take a bit of time this morning to share with you how far we've advanced in executing this strategy. We are strong believers that structure should follow strategy. With this new strategy, we have had to reset our leadership structure. I'm delighted that we've spent time to bolster our leadership structure, starting at the very apex group executive committee of the bank, where we've brought in expertise, skills, and resources to enable us to execute Excelerate25, but also have what we need for a future fit leadership of this organization. Over the next few weeks, I'll be announcing two additional colleagues who'll be joining us to complete what is now a strong bench that we have in the apex of the organization. This team has led us to implement a target operating model right through the organization to ensure that we've got the critical skills we need, but also the right people doing the right jobs in an organization that is fast-changing and transforming into a fully fledged financial services group for our people. Half year through Excelerate25, we really are looking at a changed and a diversified banking group. On the 6th of October last year, I received correspondence from our regulators indicating that as of the first of November, we will have the Grindrod Bank acquisition and the acquisition of assets and liabilities of Ubank moving over to African Bank. These acquisitions have helped fast-track the optimization of the use of the group's capital. We also expect that there'll be further optimization benefits to follow after the final Section 54 application that we've made with the authorities. The Section 54 would result in the divisionalization of Grindrod Bank. The progress I've just reported with respect to diversifying our group has enabled us to restructure a target operating model into, among others, a Consumer Banking division that will be focused on retail customers with the aim of expanding our customer base and product suites. The second vertical is our Business Banking division, focusing on entrepreneurs, small, medium, and micro enterprises, and Business Banking, with the integration of the Grindrod Bank forming the foundation of that platform. The chief executive of this division, Zweli Manyathi, will also be joining us shortly to speak about it. I will now call up on stage my colleague, Sibongiseni, the CE for Consumer Banking, to take us through his focus for the rest of the financial year. Sibongiseni. Thank you, Kennedy, and good morning, colleagues. Kennedy has underscored the importance of delivering on our Excelerate25 strategy. Consumer Banking is leveraging African Bank's core capabilities to build a scalable, diversified, data and digitally enabled business that delivers on our core purpose of advancing lives and aspirations of our customers. We have made good progress in accelerating the growth in the transactional franchise, as evidenced by the 72% growth in our customer base from 1.3 million customers in 2021 to 1.9 million customers. In terms of diversification, we have grown and diversified our funding base from ZAR 10.9 billion to ZAR 19.8 billion, just shy of ZAR 20 billion. The 72% growth in MyWORLD transactional accounts has also assisted us in gaining momentum in the growth in non-interest revenue streams. As part of our scaling strategy to strengthen the core, we acquired the assets and liabilities of Ubank and have been hard at work integrating that business into our core operations. We received our regulatory approvals during the month of October and commenced immediately in the month of November with the critical work of transitioning that business into one African Bank. We've managed to keep the customers. We've placed all of our colleagues. We've retained deposits during this critical transition period. We've also made good progress in migrating core applications and infrastructure into a unified one African Bank. The integration is well on track and running ahead of our schedule. We've also managed, as part of the integration, to get that business to break even within the first six months. In terms of delivering solutions to our customers, we have made progress in bolstering our offering and proposition by delivering our first MVP, which is our home loan offering to our internal staff and colleagues. We've also rolled out our first loyalty and rewards programme. Turning to our lending activities, we have seen an escalation in credit risk occasioned by the general stress in the macro environment, which has rendered our customers unable to meet obligations as they fall due. We have taken certain actions to mitigate this risk, and some of those are tightening our credit origination and risk appetite, moving more towards selective credit origination. We've also enhanced our operational risk and controls in our business to make sure that we arrest operational losses. We have invested to ensure that we bolster our collections effort, and we become more effective at collecting from customers that default. The advances in digital transformation has seen a continued increase in digital adoption and digital usage, as evidenced by the increase from 4% to 14% of customers now using our digital channels to do business with us. The next areas of focus in Consumer Banking will be to continue the momentum on transactional franchise growth, backing ourselves in terms of lending activities through selective credit origination. We've also launched our digital transformation program, which future-proofs our business going forward. We also are committed to delivering on our product roadmap, which will deliver new solutions to our customers and also diversify our income streams. We now are in a perfect position to complete the integration of Ubank and transition into business as usual. I will now hand over to Zweli Manyathi to take us through Business Banking. Thank you. Thank you, Sibongiseni. It's good to be here. Kennedy spoke about, expanding the core. Specifically, he spoke to the building of Business Banking in order to diversify not only into new markets, but also the revenue stream of the bank. The acquisition of Grindrod Bank gives us many things, some of which are the fact that they play very solidly at the top of the market in the form of commercial. We need to bring it down to small enterprises and the trader market so that we cover as per our aspiration, the entire small and medium enterprises, as well as micro enterprises. Grindrod also gave us a decent asset size, as well as a very benign credit loss. This is because they operate in the commercial market, as well as the high level of collateralization of the lending that they give to customers. From a deposits perspective, we are able to really scale up and get very good cost of funds contribution from that book into the overall African Bank. We're very impressed and happy with our acquisition because it gives us very important commercial property finance capabilities, as well as working capital and a niche investment banking. I thought important for us to just talk about integration. It is such an important thing because many of these transactions fail at integration. As they always say, you know, a very good strategy, if not orchestrated properly, to make sure that culture aligns and therefore ensures integration, actually runs the risk of failing. Just to give you a sense of where we are insofar as integration is concerned, from an IT perspective, we expect no showstoppers. We expect that we'll be able to integrate the non-core systems, i.e., those systems that are not serving the customer. We expect that we'll be able to integrate them without much difficulty. Those would include our HR systems, our ledger, our DR, as well as telephony. We expect that those are going to go very, very well. We will continue to make use of Grindrod's front-end system that serve the customers, because in the instance of African Bank, we did not have a Business Banking capability to do the job. This acquisition, of course, gives us that. We have been able to align policies and governance ahead of divisionalization, because you don't want to wait for that before you work on policies and governance structures. We are also very busy strengthening our teams. We have got a solid recovery team that is emerging. We're strengthening our credit because as you scale this business up, you better make sure that you have got the back-end in terms of the defense as well as origination of credit that will ensure that your end-to-end processes work for the benefit of the customer, while enable us to manage the credit risk. As part of our growth aspirations, what we spoke about was a need to go down the pyramid to serve small enterprises as well as traders. What we also want to do is expand the business that was Grindrod Bank, which was substantially a lending business. We are taking that to build transactional banking in order to be able to give our entrepreneurs a full set of solutions. We have finalized the build of our first business transactional account and have decided to test with both colleagues as well as what we call customers that we call friends of the programs, in order to make sure that we make this capability robust enough so that it does exactly what the customers are expecting it to do. As part of this, you have to have an internet banking so that customers can access your services as easy as possible. We have got a minimum viable proposition, zero, which is phase one of our internet banking that will be coming to the market with this product. What we also have been working on with the Consumer Banking team is an ability to leverage of the distribution capabilities of the bank as well as partners, so that we can enable our business customers to be able to deposit cash in those environments. We're working hard to make sure that the next piece of work that we want to deliver in the second half of the year, which is a fully fledged digital engagement layer, that will see the bank offer to its customers not only transactional banking capabilities, but we will be able to have a banking app, internet banking, as well as USSD. We are also working very hard to make sure that we digitize the end-to-end credit value chain by the end of the year to enable our intuitive team or the coverage teams to really focus on serving the customers instead of driving paper. What we are also working on towards the end of this year, we've got opportunities to acquire books that will further grow our balance sheet, thus contributing towards profitability. Also, a very exciting one for me is the digital lending business that we are building and will take to the market in this calendar year to make sure that we can offer finance up to ZAR 5 million to the SMEs. Many of you would have heard that the biggest challenge that SMEs face today is access to funding. Many of them would have complained about the fact that the processes that we follow as traditional banks is just way too cumbersome. We are coming with this digital offering, and we aim to truly meet the requirements of our entrepreneurs in the SMME sector. All right, thank you very much. I will give back to Kennedy. Thank you. Thank you, Zweli. Amidst the significant progress reported in our execution of Excelerate25 strategy, amidst the significant strides in the diversification of this group, amidst the work we've done integrating three banks over the last six months, the pandemic has, however, changed the way we work and do business. Following the effects of COVID-19 on the economy, we are now faced with even more challenges into 2023. The war in Ukraine, the load shedding moving into stages 6, stages 8, continue to stifle economic growth. The alarming rate of unemployment and diminishing prospects for our youth, these are challenges for which we must find sustainable solutions to redirect the trajectory of the country's economy. The increase in food inflation and transport inflation has had a devastating effect on household disposable income, and this has happened through all LSMs, putting pressure on customers' ability to repay their debt and to meet their obligations. This has resulted in significant customer defaults that have led to a net loss in our six months reporting period. What have we done about this? Well, we've proactively increased provisions coverage to ensure that the bank is safe and sustainable through these difficult times as we back our customers and support the franchise. We've taken an agile approach to not only stem the growth of impairments, but equally accelerate revenue growth in Business Banking to mitigate impact to our bottom line. These proactive measures, and we took quite a number of them in August last year, in October, in November, and also as recent as February. A number of concerted efforts to look at our credit scoring, tightening our credit scoring, looking at affordability of our customers, those customers that we need to support in a targeted manner through this difficult time, tightening our own controls during this period. All of these proactive measures are aimed at the group meeting its profit goals at the end of the financial year, 2023, September this year. We are confident that as a bank for the people, serving the people, the right mitigants have been put in place, but also the right balance is being sought to ensure that we've preserved the franchise and continue to support our customers and our people. I shall now call on stage our Acting Joint Group CFO, Chrisanthi, to take us through the financial analysis. Chrisanthi? Thank you, Kennedy. Good morning, colleagues. I'll be taking you through the financial analysis. In terms of our strategy, the acquisitions of Grindrod Bank and the assets and liabilities of Ubank benefited us by diversifying our asset base, our products, and our customers. We are no longer just an unsecured lending bank. We are a changed business. We are a business, a group, that offers Consumer Banking and Business Banking solutions. As can be seen in the table, we have grown our product usage by 160%. Yes, in the normal Consumer Banking space, but also on our platforms for Alliance Banking and Business Banking. The financial performance that I'm going to present shows a resilient business operating in a tough environment. The diversification and acquisitions has resulted in a balance sheet that is bolstered for further growth. Our combined advances are sitting at ZAR 32 billion. Our diversified funding base at ZAR 34 billion. We continue to maintain robust liquidity and cash positions of approximately ZAR 9 billion. Together, that has helped us yield net interest income growth of over 29%. Our non-interest revenues have grown, including insurance, by 145%. Our operating costs are up by 53%. This is due to the acquisition costs and once-off integration costs. As experienced with other players in the market, our credit impairments have increased. They've increased to 240%. This is due to our customers and the economy facing strain. I will expand on this further on in the presentation. We have ended up on a net loss of ZAR 44 million for H1 2023. Despite this, we have still maintained quite well in our capital adequacy ratios and our liquidity positions. Our gross advances has grown by 52%. The diversification and acquisitions of Business Banking is now contributing, as a business bank, 25% of our total advances. Our Ubank contribution into Consumer Banking has been less than ZAR 500 million at fair value. Business Banking has actually diversified our book, as now we also have secured lending. Our disbursements for H1 2023 have been conservative. In Consumer Banking, we tightened our credit granting criteria, and you will see the disbursements have come down year-on-year. Our digital web and direct distributions continue to grow steadily. The graph on the left shows our profit composition. It's a waterfall. It shows our strong revenue growth, which has been offset by our credit charges. Our high interest income has increased and is up due to our loans and advances growth, as previously mentioned. We have steadily grown our MyWORLD and the credit card usages have increased. The offset of the credit charges, as mentioned, is due to our impairments coming through, and this is due to the negative economy that is impacting our consumer base. Our operating expenses has been reset and now includes our Business Banking and Ubank costs. It also has, in Consumer Banking, a once-off cost of integrations of ZAR 88 million, and we are investing in our future. We have invested ZAR 77 million in infrastructure and IT costs. Grindrod Bank's acquisition yielded a gain of ZAR 276 million and is included in our profit number. The group's net interest margin remains solid. It is sitting at 11.7%. Yes, it might have decreased from the 14.1%, this is because we have included the Business Banking business that yields lower margins due to its secured assets. Our interest expense as a percentage of average earning assets is sitting at 4.5%. This has increased due to our introduction and acquisition of a higher funding base. Non-interest revenues have diversified. They have ramped up by 109%. Our fees, as I mentioned previously, have increased on credit card due to credit card increases and usage. The MyWORLD accounts have grown by 72%. We are sitting with over 900,000 funded accounts. This has contributed to our transactional fees growing. Our Business Banking division has also contributed to our non-interest income revenues through its own fees and the inclusion of its advances measured at fair value. The value-added services that we offer our customers has contributed significantly compared to last year. As we had mentioned last year, our collection fees from the RDS book has decreased, and this is due to the RDS book running down. The good story about MyWORLD is that we can actually see the transactions growing. This has grown to ZAR 30 billion in terms of value. If you look at the last three months of the MyWORLD activity, you will see that it has ramped up, and this is due to the fact that we have introduced the MyRewards program, and this has increased the activity. Our insurance operations continue to deliver profits. Our premiums have increased, and our claims have normalized to post-COVID times. Our credit loss charge has been affected by a tough economic environment. Our CLR ratio for the group is sitting at 11.1%. Our Consumer Banking ratio is sitting at 13.6%, but this has been diluted by the Business Banking CLR ratio of 0.3%. The Business Banking book is a secured lending book, hence a lower CLR ratio. Let's unpack our Consumer Banking CLR ratio. It has increased to 13.6%. It has been affected, as KGB had mentioned, by the challenges our consumers are facing, and this is due to hyper food inflation, transport inflation, and an energy crisis that is affecting our customers' ability to repay their loans. This is coming through our existing book. If you look at the new business we have written, it is actually trending downwards, and this is due to our credit tightening that we have implemented. The group's coverage ratio is sitting at 26%. We have a diversified book and better credit quality. For Consumer Banking, our coverage ratio is sitting at 33%. We recognized that our impairments and our credit risk had increased, and we had purposely embarked on a strategy to improve that coverage ratio. Our NPLs Stage 3 are sitting at 36%. We have a coverage ratio of 70% despite the tough economic climate we are facing. In FY 2020, we tightened the underwriting criteria due to the pandemic. In FY 2021 and into H1 2022, we normalized our credit underwriting criteria. As you can see from the graph, we also recognized our credit risk starting to emerge. Hence we embarked on a strategy to tighten our credit underwriting criteria. We started this in August, and Kennedy did mention it, and worked through all the way, and we did this all the way through into H1 2023. This is predominantly because of the inflationary constraints we have seen on our customers and the affordability pressures. In the latest cohorts, which is really the green line, it shows that our pulling back of our credit criteria has actually improved our credit risk. This is further supported by collections forward roll rates. In the last three months of H1 2023, you can see our collections roll rates coming down. In the latest vintages that we have dispersed, they are behaving within the risk appetite that we have expected, and we expect our credit impairments for these cohorts to decrease. The acquisitions of Grindrod Bank and the assets and liabilities of Ubank has bolstered and diversified our balance sheet. Our balance sheet has grown by 66%. It has grown in net advances, it has grown in a diversified funding base. Despite our acquisition, still maintain robust and adequate capital levels. Another positive of our acquisitions is the diverse funding base. As you can see, our Retail and Business Banking franchise has contributed to 85% of total funding. Our Business Banking has grown from 2% to 27%. Our cost of funding is down to 7.4%. This is due to our lower cost of funding on our shorter-dated deposits that we have acquired, notwithstanding the 350 basis points increase in the repo rate. In FY 2022, we had a strong capital base of 43%. This enabled us to conclude our acquisitions of Grindrod Bank and to acquire the assets and liabilities of Ubank. Despite our performance, we are still showing a healthy capital ratio of 29%, well above the minimum requirements and our regulatory requirements. Thank you for listening to my presentation. I now call upon Kennedy to conclude our proceedings. Thank you, Kennedy. Yeah. Again. Thank you, Chrisanthi. Our Excelerate25 is focused on growing our bank so that it is ready for an initial public offering by 2025, market conditions allowing. The aim is to give customers, to give our people, staff, and critical stakeholders the opportunity to own shares in the group. This bringing to life this mantra of being the bank for the people. However, this journey has just started with the consolidation and integration of the businesses we've acquired, and also the new product areas we've moved into. Focus now needs to shift to improving our financial performance and to achieve our Excelerate25 targets. We are working to reach our profitability goals at the end of September 2023. To achieve that, the mandate for Consumer Banking will be to stabilize operations with a continued focus on consumer lending books, credit lending criteria, improving its performance. I'm asking them to complete the integration of Ubank and move us into business as usual, growing the MyWORLD transactional account and card usage, ensuring that we grow NIR. Business Banking, on the other hand, is tasked to continue growing operations, growing asset-based finance, commercial property, and the SMME risk-weighted assets into a bigger component of the group's asset base, and thus continuing the task of de-risking our balance sheet, diversifying our revenue pool for all the benefits that come with it. Business Banking will also be rolling out our new business transactional products to service entrepreneurs. For the rest of the financial year 2023, we'll also be taking a keen interest in our Alliance Banking. Earlier on, I spoke about that pillar in Excelerate25 that speaks to expanding the core of what we do by alliance ecosystems. This being a simple idea of positioning ourselves as the go-to partner for fintechs, for value-added service providers, for non-bank financial institutions that are increasingly becoming an integral part of financial services. Our Alliance Banking unit is meant to grow into a standalone vertical that scales up the five selected partners that we have in alliances. We aim to fully optimize the offering to the 2.2 million already active customers that we have via our alliance partners. Together with the 1.9 million customers that Sibongiseni spoke about in Consumer Banking, we today serve over 4.2 million active customers in our African Bank banking platform. The objective is to ensure that these 4.2 million active customers in our banking platforms get the benefit of the full suite of our offering as African Bank. In conclusion, at African Bank, we believe in your audacious dreams and will support your audacious goals. We are a bank that goes an extra mile to deliver services to its customers through our customer-centric branches, direct sales, and digital channels. We are more than simply a bank. We are a mission manifesting itself as a bank. That mission is centered on hope, even during these trying times. That desire to help our people accelerate. We invite you to be audacious in pursuit of your financial goals, knowing that in us, you have a trusted financial partner. Thank you very much. May I invite questions, please? Our first question this morning is, small businesses, are a big topic of discussion to help grow our economy. How is the Business Banking unit going to support entrepreneurs in this tough economy? Zweli, do you want to field that for us? Yeah, thank you very much. Small business is a very, very big deal for us as a country in growing economy and creating jobs. The question that, what are the things that we ought to be doing to make sure that we strengthen their capability to contribute meaningfully towards those two is two ways. The first one is just, the big challenge has been access to credit, and I'm going to call it easy access to credit. At the back of a very good capability that we're coming to the market with, which is digital lending business. We aim to make it easy for our entrepreneurs to access credit that we will be offering. That will be credit with a tenure of anything between six to 24 months and up to ZAR 5 million. When you look at the market demands, you will see that a bulk of our entrepreneurs can actually be fully served by limits as much as ZAR 5 million. That's the first piece, ease of access to credit. The second piece, of course, is try and help entrepreneurs to focus on growing their businesses as opposed to spending a lot of time on administrative tasks. We plan to create a platform that will enable entrepreneurs on a shared service basis to access capabilities like VAT returns, like tax, like UIF, so that they don't spend too much time on administrative stuff, but rather focus on the agenda of growth of their businesses. We believe that these two things will actually bolster the capability of the entrepreneurs to actually succeed. The last piece, I suppose, is you need resilience in a period such as this, where there is challenges around the economic growth. You do that by pairing the entrepreneurs with mentors who have seen the movie before. Those are the things that we look to do, emphasizing beyond banking services by supporting entrepreneurs to further strengthen their muscles to succeed into the future. Thank you. Thank you, Zweli. Thank you. The next question is from anonymous. Says, "Please outline the specific measures and initiatives African Bank is undertaking to improve the bank's performance." As I indicated in the slides a few minutes ago, We're really chuffed with the work that we have done in terms of consolidating our efforts in Excelerate25, fast-tracking the integration of Ubank and Grindrod Bank, and responding the way that we have in terms of the harsh and tough times that our consumer customers are going through. I'm quite chuffed with the fact that we've proactively increased our coverage to 36% for the consumer segment. That is ZAR 0.36 in every rand that we've lent to our customers in Consumer Banking has been put aside as for credit impairment for coverage. We think that even in these tough conditions continuing for a little while longer, this coverage rate protects the bank. What we've now done in terms of specific measures and initiatives over and above protecting the capital base of the bank against further difficulties that our customers are experiencing, is to make sure that. We did this in August, we did it in October, November, and again in February. Look at our credit scorecard, tightening it, but also enabling us to be targeted in terms of the customers that can still be supported right through this time. We have looked at our affordability models, and a number of, aspects of that affordability models, has had to be tweaked as, we read what's happening in the market. All of this enabling us to grow in, Consumer Banking, in a very selected and targeted way. You've also heard Sibongiseni speak about, us, stepping up in terms of, secured lending, behind handset financing and so forth in consumer. This is sure to help with respect to the performance of the consumer bank going forward. I've spoken about us taking on agile ways of working in ensuring that we support Business Banking to increase their contribution in terms of our overall risk-weighted assets, so that we look a lot more balanced and not have this over-reliance in just unsecured lending for the remainder of the year. Zweli and the team are working furiously to ensure that not only do we execute on a very healthy pipeline that we have in Grindrod Bank and our Business Banking division, but also take up opportunities that being so well capitalized and having such a healthy liquidity position avails to us in targeting books that are available, that are profitable from counterparties in the market that we can buy and bring on board pretty quickly. This boosting of our Business Banking, largely secured asset backed exposures will certainly help not only in continuing to grow in our net advances, but also ensure that we further de-risk the balance sheet, diversify our revenue streams, and back ourselves to meeting our profit targets for FY 2023 at the end of September. These are the measures and specific initiatives that we've adopted, and in April and May, we've already started seeing them bear fruit, giving us confidence that we indeed will meet our profit targets come full year. Moving on to the next question. What's the actual credit impairment for the reporting period? How much has it increased from the prior period? What% of the loan book is in Stage 3 loans? There's a number of questions there, Chrisanthi. I think you should dive into all of them. Thanks, KGB. What is the actual credit impairment that's reflected on our income statement? It's sitting at ZAR 2.2 billion. How much has it increased year-on-year? It's actually increased by 240%. If one looks at the table in terms of our staging, our Stage 3, our NPLs, are actually sitting at 35% for as at half year, and the coverage ratio of that is around 70%. Thanks, Chrisanthi. I think Dando Tukwana has received a comprehensive response from you. The next question is. I read: When are you going to introduce products such as home loans and stokvels? I think this is directed to you, Sibongiseni. Yeah. Thank you, Kennedy. We have been busy at work, delivering new solutions to our customers, and I'm pleased to announce that in the month of April, we launched our first version of our home loan product, which is to our internal staff. We will be bedding down that product over the next- The fact that it was launched on April Fool doesn't mean it's a joke, right? Absolutely, serious. As dead serious as we can be. We'll be looking over the next four months to stabilize the product, the processes, and everything that we want to test around our ability to originate, to have a good risk read, and then to perfect our collections for home loans, including, of course, the tail end of home loans processes, which is really the conveyancing process. We are pleased about where we at. We also rolled out in the month of Feb, our first loyalty and rewards program, which really allows us to deliver on our core promise for what we call shared value, which is for our customers that do business with us, we make it worth their while, and the fortunes are then reciprocal. We are pleased about those two solutions. Thanks, Sibo. Dando from Moneyweb asks again, "Are there..." I read, "Are there any updates on timelines and plans to list on the JSE? Is management getting comfortable that..." I can't see the question again. Let me just try. Will you put up the question from Dando at Moneyweb? Yeah. It's just disappeared on me. Yeah, there we go. That's it. Let me start again, and Dando, with your question. Any updates or timelines on plans to list on the JSE? Is management getting closer to feeling comfortable with listing? Thanks, Dando, for that question. It's actually quite apt at this time to give an update. We have promised our shareholders and the board that we'll be looking to list by 2025. This, of course, being our preferred route to exit those shareholders that seek to exit. Of course, all of that has a timeline we're committed to, but will be subject to market conditions allowing at that time. Everything that we are doing with respect to our Excelerate25 strategy is meant to deliver us that outcome by 2025, market conditions allowing. That said, though, we are hard at work to conclude by the end of this calendar year, a pre-IPO exercise that will help us get a anchor shareholders, as if you like, ahead of the full listing in 2025. The pre-IPO is focused on locking down, if you like, those of our existing shareholders that will stay longer with us going forward as anchors. It is meant to focus on a staff scheme that will ensure that our colleagues at African Bank really feel ownership of this enterprise, bringing meaning to this idea of African Bank being a bank for the people. It couldn't be an African for the people if the people that work at African Bank do not have ownership of some sort. We're looking to close that. We are further targeting what we call stakeholder equity partners. These being people who are contributing to our ability to deliver a significant parts of Excelerate25 to also invite them on board to take a shareholding in the bank as anchors. We think that this will pre-IPO will de-risk our efforts come the full IPO in 2025, which will be a lot more geared towards inviting our customers, inviting entrepreneurs to come on board and own this bank for the people, ensuring that African Bank lives up to that mantra and goes back in back really to its roots as a bank founded by entrepreneurs, a bank founded by our people. That is what we aim to achieve with both the pre-IPO this year and an IPO in 2025, market conditions allowing. I trust that Dando, that covers you, but happy for a follow-up questions on that if you, if you deem needful. Moving ahead, the next question is, "Can you give a sense of retail credit impairments post-March, given the deterioration in macro environment?" Yeah, I mean, I think we've partly covered this, Jared. I indicated earlier that, by March, I think you covered it. Yeah. We had raised just over ZAR 2.2 billion of credit impairment charge, an increase of around 240% half year to half year. That is what we took up at the end of March. I've also indicated that the actions, the measures, and initiatives taken, which we've outlined earlier on, really, not only have, in our view, future-proofed us for a prolonged period of pain in the macros and in household disposable income, in consumers' ability to afford their obligations and make payments, but more importantly, has enabled us to see somewhat of a turn in terms of credit impairment charges post-March in the targeted and select consumer segments that we're looking at at this time. We think that this is a further confirmation that the medicine we've taken is actually doing what it's meant to do. I don't know if you want to add anything further to that, Chrisanthi. I think just to give comfort as well, in terms of our new loans that we have been originating and underwriting, we can actually see their performance has come in with risk appetite. That being said, I think in the medium term, like Kennedy just mentioned, is that our consumers are still gonna face some pressures on their affordabilities and on their share of wallets to repay their loans. We do expect to see some pain still coming through, but I think with the new vintages that we have originated, they are, you know, behaving like we're expecting from a risk appetite perspective. Thanks, Chrisanthi. The other question is, and I quote: "What relief do you have for customers in this tough economic climate?" What relief do you have, Sibongiseni? Yeah, what we've done, recognizing that customers are consistently coming under pressure, is to make sure that within the construct of our products, we allow customers to access a payment holiday as soon as they recognize that they will not be able to meet payments in a specific month. We've also, proactively are reaching out to customers as soon as we see them regress in terms of their bureau scorecards, to invite them to engage with the bank, to enter into new arrangements that would be able to meet within their cash flow affordability. We're proactively engaging customers so that they don't fall into the big valley of missing multiple payments and not being able to recover. Proactively, we're offering payment holidays, which are parts of our construct, and proactively, we calling on our customers to invite them to come and talk to us as soon as they experience distress. Thanks, Sibongiseni. I think that goes a long way to answering Dando's question as well on how much more clients are defaulting on payments. Thank you very much. We wish to reiterate again to our customers to come talk to us. The moment they expect to have difficulty with respect to affordability. We do have these measures in place that can help them pass through this tough phase that our economy is facing. Thank you for that. The next question is: When can small businesses start opening business accounts? Mr. Manyathi? Yeah. Fortunately, we've done some good work insofar as building our first business transactional account. We are in the market right now on a soft launch basis. We've limited ourselves to what we call friends of the programs. We will continue to expand that. Those are our new customers. What we are looking to do is ensure that not only do we have just an account, but we're also building a digital engagement layer that will enable customers to access these transactional services via internet as well as the app. All of that is expected to be in the market fully by the end of this calendar year. We're hard at work making sure that transactional capability becomes available to our customers, so that we're not just a lending business, but a fully fledged bank. Thank you, Kennedy. Wonderful. Next question: You mentioned that the Ubank integration is going well. Please elaborate how staff have been affected? Were you able to secure jobs for all Ubank staff? Sibongiseni? At the start of this acquisition, we did indicate to the market that for us, the most significant opportunities with this acquisition was, one, that we had an opportunity to acquire a very captive market that Ubank was servicing. Secondly, we also brought into a network that is next to none, particularly in the mining space. We had a strong balance sheet, particularly in terms of source of funding and deposits. Lastly, and not least, we really were interested in the staff in that space. About 530-odd colleagues that were part of the acquisition were integrated, all of them were placed as part of this integration. We're really pleased that not one person lost their role or job as a consequence of this integration, and we've been able to preserve that franchise across all the dimensions. Thank you, Sibongiseni. Let's just check if there's any further questions. We've already addressed the home loans and stokvel question. I think that's it. Again, thank you very much for those questions and the interest you have in this journey with African Bank. Please feel free to tag us on our social media and also direct questions in our slido.com #AfricanBank. Thank you very much.