Good morning, and welcome at our financial year results here at African Bank. We're delighted that you could make the time. We'll spend this morning talking broadly about where we are in our journey with respect to Excelerate 25 strategy, but also invite our group financial officer to speak about the financial results and take some time to look ahead into the new year and beyond. The year that we'll be reflecting on is really one that was in two halves. The first half really themed around the significant credit impairment spike that we had in the first quarter. And how all of that, together with the once-off integration costs, resulted in us reporting at half year a loss of ZAR 44 million. The second half has been a story of stepping up Excelerate 25 to ensure that we address key issues with respect to maturing our end-to-end risk management, but also stepping up with respect to diversification of our revenue streams, de-risking of our balance sheet to ensure that we're not only on track with respect to Excelerate 2025, but in many ways ahead of plan towards our envisaged IPO in 2025, market conditions allowing. But I do want to just start off back to where the story begins. The story of the audacious idea of a bank for the people, by the people, serving the people. It was in Soweto in 1964, where this audacious vision was birthed, leading to the launch in 1975. We all know that the African Bank story has been one of endurance, enduring curatorship, and evolving in the last 15 or so years. From that curatorship giving us the chance with the Excelerate 2025 strategy to really envision a bank that would be true to its raison d'être of enhancing lives. A bank for the people, by the people, that would be a bank that is customer-centric, data and digitally enabled, to have a diversified retail and business bank business that has got scale, is sustainable, and has got a compelling listing proposition as and when we wish to exit current shareholders in a few years. We're delighted that, in conversation with you this morning, we can speak about strides made to really strengthen the core of this business, through digitization, building our IT systems, ensuring that our current, capability and, product sets in consumer banking is enhanced, for a full proposition for our consumer, banking clients. We took a very deliberate strategy of a hybrid distribution model that, whilst, anchored by our, strengthened regional, presence right through the country, a physical presence right through the country of 500 branches, it's supported by direct and digital channels, that are adopted progressively well by customers. We strengthened the core of the consumer bank, that is, African Bank, beyond just unsecured lending, and there's a lot that we'll be talking about. Zweli and Sibongiseni will talk about as to how far this has helped us de-risk the organization and diversify our revenues. We are excited to reflect on strides made in expanding the core of the bank beyond our traditional consumer market, into business banking, into alliance banking, and ensure that we have here a banking platform ready to be digital first in many of our new offerings. In this year, we concluded the bench strength of our leadership core with the addition of Lindi Choma as our Group Chief Compliance Officer, ensuring that we can tap from her deep experience to mature the culture of compliance in the bank as it grows and as it builds on sustainability. We've invited in, Nolwazi Nzama to be our Deputy Chief Risk Officer, to also assist Piet Swanepoel in ensuring that our end-to-end risk management processes are really up for the task at hand. Trisha Singh comes in as a Group Company Secretary and Gcobisa Ntshona as our Chief People Officer, to really complete our ExCo and leadership team. A team that is diversified in terms of skill sets, experience, brings in the vibrancy of youth and deep banking experience that enables us to be confident that we've got the right leadership for the bank that we are building. But back onto the year that was. The year 2023 exhibited tough operating environment for longer than anticipated. Eliciting the form of responses that needed improved controls, a deeper resilience in our teams right through, and ensuring that we can work in agile ways of working to address these challenges that particularly our consumer customers faced in the year that saw interest rates remaining high, in fact, higher than at any given moment in time over the last two decades. This, of course, contributing to domestic household income coming under significant pressure, particularly for the type of African Bank customer that is susceptible to high food inflation, high transport inflation, as we saw in 2023. The escalation of load shedding to stages three to six, particularly at the end of the first quarter of this financial year, added to the trials and tribulations that our customers faced. We also saw a spike in cybersecurity events that led to notable disruptions in both the private and the public sector in South Africa. All of this adding to the deteriorating consumer macroeconomics that impacted starting with consumers, but eventually impacting corporates in most of the sectors of the economy. What did we do to address all of this? Well, at African Bank, we've enhanced our credit scoring a number of times to make sure that we while tightening credit lending we also support our customers going through a tough time. Arrest credit impairments rates that had spiked in the first quarter of the year and make sure that we bring them back onto plan, and we bring them back into acceptable risk appetite levels. The implementation of several collection forecast initiatives, as well as long-term solutions, including but not limited to, customer break options to assist customers. A number of initiatives in treating our customers fairly through this tough time have enabled African Bank not just to be your sunshine bank, but to be the bank that is there for our customers through thick and thin, whilst ensuring that we work within the parameters of acceptable risk levels. We've substantially and substantively improved our risk and control environment across all aspects of our operations. I alluded earlier on to reinforcing even the leadership of our risk area with Nolwazi coming on board as Deputy CRO, bringing in Lindi into leading our compliance function and ensuring that with Gcobisa coming in as our head of HR, we really partner these colleagues to ensure that the emerging culture of the bank is one of a culture fit, compliance fit culture as well. We have put in significant investments to upgrade the bank's on-site power supply provisions to ensure robustness, not only in our speed to deliver in terms of IT, in availability of our IT systems, but also to mitigate against higher stages of load shedding. Doing all of this with sustainability in mind and making sure that we improve our carbon footprints. The implementation of agile practices across all aspects of the program and projects universe, as well as in terms of crisis response, were all driven from the CEO's office to ensure that everyone in the organization obsesses about ensuring that we use this tough time marketing environment to improve our resilience as an organization that is growing. So while we've had a tough operating environment, I am delighted with the response of African bankers that they have shown that they are tougher than this environment and in fact, have been able to get us back on track with respect to our plans in Excelerate 25 and in many aspects, to be ahead of our ambitions and plans at this time. I will touch very briefly on some of the initiatives that we've taken this year in advancing our strategy. But later on, invite colleagues who are CEOs of the respective business to double-click on this. For me, the key talking theme, if you like, for these results are diversification and bringing about scale and scale and sustainability in the business. The group has driven the diversification agenda over the past financial year, both in line with Excelerate 25 strategic goals, but also in response to market conditions. The diversified portfolios in consumer business banking and the emerging alliance banking and insurance are fruitful goods- are fruitful grounds rather, upon which our growth aspirations of the bank will be achieved. This is what you do in accelerating your moving the bank from being a monoline consumer lender into a fully fledged consumer and business banking franchise that progressively has diversified revenue streams, a de-risked balance sheet, has got scale in terms of growing the client franchise, and ensures that we move more into being a banking platform for our customers. In support of this progress has been registered in this year in building this platform capability through the recent acquisitions in in the group. There was a focus very clear this year to integrate the Ubank businesses that we acquired, the Grindrod Bank businesses that we acquired, and further growth that we have organically beyond our comfort zone of consumer unsecured lending. The resultant de-risking of the balance sheet positions us favorably for both scale and sustainability going forward. And further to this focus, I want to just touch on consumer banking a little bit and business banking. Starting with business banking. We've enhanced our transactional banking franchise by adding more features and functionalities in our business transactional account and deploying a digital engagement layer that enables new age internet banking and mobile banking for existing Grindrod Bank customers and the larger business banking customers that we are growing into. This deploying of a digital layer enables us to bring in digital lending as well and expand our current solutions to include Capital Equipment Finance and further bolstering our commercial property franchise, as you'll hear Zweli speak to, particularly in terms of what we're doing with Sasfin as well. All of this, ladies and gentlemen, is true to our promise when we acquired Grindrod Bank, to say the franchise that they built for business banking customers over 25 years in Grindrod Bank, when they come into African Bank, they will not receive just the same, but they'll receive a bigger balance sheet, a bigger capital and liquidity to support them, but also the kind of service offerings that will enhance their lives as entrepreneurs, as commercial customers, and as businesses that are growing. In consumer banking, the story of diversification found impetus this year with the transactional banking growth that we experienced via the MyWORLD account. Utilizing our rewards-based incentives and other incentives, such as partner-based ecosystem banking, with various strategic partners. All of this made open to our consumer banking customer. We've promoted cross-selling through improved customer value management and are also evolving our product solution set beyond just the lending business. You will see all of this come through in terms of our performance this year. And to just touch briefly on the high-level financials for the year. The diversifying balance sheet in consumer and business banking through organic and inorganic growth this year saw us move net advances from ZAR 22.6 billion last year to over ZAR 32 billion this year. We got to move our diversified funding base from ZAR 16.6 billion last year to a whopping ZAR 34.6 billion this year. Both these organic and inorganic growth of our assets and liabilities have enabled us to grow the net interest income from these larger advances books by 21% year-on-year, and improved our non-interest revenue including insurance by over 126% year-on-year, from ZAR 1 billion to ZAR 2.3 billion this year. This is an exciting part of our milestones this year, this growth in NIR and Anbann and Sibongiseni will touch on it a little more later on. That said, however, it was a year of a spike in credit impairments, given the difficult macroeconomic conditions that we described earlier and how they impacted on consumers in particular. We registered this year over 127% worsening in credit impairments, particularly in the first half of the year. We speak about the actions taken to address this, arrest it, and bring it back into appetite. But it was also a year of significant investment onto our growth, thus the 58.7% increase in our cost-to-income ratio, shy of the 60% that we expected in this period of investing for growth. All of that done, African Bank remains well capitalized at over 30%, with significant liquidity surpluses of ZAR 9.9 billion, enabling us to support organic growth and existing customer franchise going forward. I'm now gonna invite my colleague, Sibongiseni, the Chief Executive Officer of the Consumer Bank, to double-click on some of these themes and what we've done in consumer banking. Sibongiseni? Thank you, Kennedy, and good morning, colleagues. Consumer banking is leveraging African Bank's core capabilities to build a scalable, diversified data and digitally enabled business that has, at its core, delivering contextually relevant solutions that advance the lives of our customers. Pursuing this strategy has helped us to grow our transactional franchise, and we saw a 44% growth over financial year 2024. We saw a 44% growth in transactional accounts during financial year 2023. This growth has allowed us to grow our base of MyWORLD customers from 712,000 to just over 1 million accounts. These customers who are now transacting with us have also converted our primary ratio and supported the growth in transactional volume. We've seen a 52% increase in transactional volumes to just over 53 million transactions during the year. This usage in transactional volumes is largely underpinned by point of sale, ATM transactions, and the purchase of value-added services using the African Bank platform. Similarly, we have grown our unique customers to 1.9 million customers, excluding the core customers that are in alliance banking. We've also managed to improve our cross-sell ratio to just over 1.4 from 1.26 a year ago. The bank has also had to review, as part of its broadened offering, our pricing strategy, and we've introduced new pricing approach in our transactional product and our credit card proposition. This is also underpinned by the offering that we've brought through to the market in terms of our loyalty program. Delivering these solutions has now allowed us to diversify our non-interest revenue away from collections activity on the RDS book, which is really the old book, into franchise and core customer transactional revenue. We've also built our core lending products beyond just unsecured. We have launched an enhanced funeral product. We have launched our rewards programs to create and support the growth agenda that African Bank has launched as part of its audacious journey. We've also launched our first MVP Zero, which is really our home loan product, to staff during the year that we've just completed. Simultaneously, we have optimized our credit models, which have allowed us to selectively originate credit that has underpinned the growth of our lending book. I'm pleased to announce that we've launched our digital transformation program during 2023, and really, the core role of our digital transformation program is to make sure that we future-proof the bank and also provide journeys for our customers that do business with us so that we have a seamless experience, and also we make it frictionless for customers to do business with us. Finally, we have completed the integration of Ubank, and we have now transitioned that into business as usual. We are pleased with the progress that we've made on that front. I'd now like to hand over to Zweli Manyathi to take us through business banking. Zweli? Thank you, Sibongiseni. At business banking, we continue with our work of building a fully fledged middle-of-the-pyramid business banking offering that is digital at its core, an ecosystem driver, and a platform business offering beyond banking services. I'm glad that in FY 2023, we successfully put into production, as part of our MVP Zero, a business transactional account and internet banking. We are already onboarding a limited number of customers existing as part of the friends of the program. This will enable us to learn with our customers what more functionality is required in this product. This is right at the core of our design thinking, where we co-create solutions with our customers. Grindrod Bank acquisition continues to deliver value. We have not only retained our deposit base but grown it. We've grown our advances. Our credit losses remain very benign in this very challenging economic environment. We have also seen an improvement in our profitability as planned. We have, as you know, spoken to you about the integration being a very critical deliverable for the Grindrod acquisition. I'm glad to say to you, we have integrated Grindrod and are working on the next step of making it a division of African Bank. Insofar as this is concerned, we have our Section 54 submitted to the Prudential Authority, and we are ready to execute on this divisionalization as soon as I receive the approval. We continue to engage our customers on the pending approval of this divisionalization in order to make sure that they are fully informed about what the new world will look like. We also continue to serve our customers during this transitional period, and I'm glad to say that the ongoing customer engagement is delivering fruit. Scaling up our lending business is very, very important for us, as we seek to substantially grow our advances over the years to come. What I spoke about last time was two possible approaches into this. One was the obvious organic growth, where we see our teams go to engage with customers, understand their growth needs, and enabling them to do so by providing funding for those growth needs. The second one I spoke about was an opportunity to actually do an inorganic acquisition when opportunities do arise. Indeed, those opportunities have arisen. We have been engaging with Sasfin with the intent of acquiring two of their businesses: Commercial Equipment Finance, as well as Commercial Property Finance. Insofar as Capital Equipment Finance is concerned, it strengthens our proposition in the asset-based finance, as well as enrich our overall offering by making us able to better meet the existing needs and demands of our customers. Very exciting part of that business is the funding of alternative energy. This matters a lot, especially these days of load shedding. It helps our customers to be able to trade even in the midst of that load shedding. Very exciting opportunities for us as African Bankers to have this capability. The Commercial Property Finance is actually going to add into our existing portfolio, which was the gift that came with the acquisition of Grindrod. We look to finalize these two transactions and load them onto our balance sheet next February 2024. Both of these transactions will bring with them new African bankers in the form of colleagues who are operating in this division and, and running these divisions in Sasfin. This will strengthen our bench. We look forward to welcoming them to our midst. We are at an advanced stage of building our digital lending business. This is one other vector of growing our asset base. This digital lending business is going to be focusing on providing access to funding up to a limit of ZAR 5 million per SME customer. Very exciting times for us to begin to play very seriously in this sector. It is one of the most important sectors in growing our GDP as well as providing employment. We expect to go to market with this proposition in the second half of FY 2024. I'd like to introduce you to our newest member of Group ExCo, our CFO, Anbann Chetty. Anbann, welcome to the group. It has been a pleasure working with you for the first few months. I look forward to your enormous contribution to the group. Anbann Chetty. Thanks really for that wonderful introduction. I must say, just joining African Bank a few months ago, the ExCo team has made me feel so welcome. My group finance team has been phenomenal. The entire African Bank family has really supported me through these few months, and I feel so integrated into the team. So thank you very much. As I just start my financial analysis, I think what I really want to focus on is a few key highlights that you're really gonna observe is... The first thing is the return to profitability, which is fantastic in the second half of the year, as well as ending off the year on a profit. It's a great achievement to the team. Secondly, you're gonna see a balance sheet that is starting to diversify, which my colleagues have spoken about. Thirdly, what's really important is notice our client growth sitting at close to 4 million clients already. So just moving on, you can see we've got such a diversified and growing customer franchise, close to 4 million clients, all active on our platform. How we've achieved this is through acquisition of our Grindrod base, acquisition of our alliance partners, as well as the continued growth of our consumer banking and our clients getting more and more MyWORLD accounts as well. So fantastic start to acquiring more clients on our platform, which is a great achievement to start off our growth. Then moving on, we spoke about the return to profitability in the second half. Close to ZAR 550 million, sitting on with an end-of-year 505, which comes in from a year-on-year comparison, just about 30% down year-on-year, but coming in very strong in the second half of the year, which is a great achievement to the African Bank team. Then if we have to unpack the profit composition, what you can really see is on the first three blue blocks on the left-hand side, strong NII growth coming in from growing the balance sheet. Good interest income, combined with the non-interest revenue coming in from transactional fees, coming in from attracting more clients that we just spoke about, more clients swiping, more clients doing more transactions. Once again, the insurance business contributing substantially at just over ZAR 300 million as well. Fantastic achievement as we grow and diversify the business. The big orange in the middle, much larger credit impairments coming through. The team has spoken about that at the first half of the year. With the higher impairments, nothing different to the industry. Our consumers are under pressure, and we're doing substantial amount of work to improve the credit granting model, improve our collections, improve the risk metrics that we're using. Great achievement in a tough economic environment. The next three speaks to investment into our businesses, consumer banking, the Ubank, and the Grindrod. What we've done there, we've incurred integration costs as we've combined the businesses, as well as investing into the future as we grow and set ourselves up and start to get ready for listing in the next few years. Combined with that, we've also benefited from the bargain purchase price of Grindrod, as well as benefited from the taxation as well. Then moving along into the net advances. This is a really, really powerful slide, a slide that speaks about acquisition, a slide that speaks about diversification. You can see how the net advances just a year ago, sitting at just over ZAR 22 billion, but substantial amount, close to 90%, was from the consumer banking unsecured book. A year later, 41% growth in net advances, combined with getting a business bank coming in at over a third of our business banking assets is sitting in our balance sheet. Fantastic achievement to achieving the diversification in our business. Once again, you can also see within consumer banking, we've actually reduced our balance sheet as we've contained the risk, as we ensure that we need to manage our credit risk in these tough economic conditions. And moving on to the next slide, you can see the credit disbursements from our consumer banking came from the peak of ZAR 14 billion a year ago, down to under ZAR 10 billion, almost a third pullback that we've done. So fantastic achievement in the team of how we've contained our credit risk and how we've managed that. Interesting, when you look at the slide on the right-hand side, the demand for credit has not slowed down. We still received over 1.4 million applications for credit. But what you can notice and what we've done really well in this year is how we managed our credit. You can see that our approval rates are down to 30%. Our take-up is still in the 50s, but the fantastic achievement of how we've managed our credit through these tough economic conditions. This is really a success story for African Bank. As we look at our franchise and as we look at our platforms, what's key to take out here is in the three channels that we have, our branch network still contributes 70% of our applications. Speaks to the importance of having our 450 branch network across the country. Secondly, what's key to take out is our digital. A few years ago, we were at 6%. That's more than doubled in terms of our credit applications at 13%, which is double what we had a few years ago. Fantastic achievement. That's the power of having the app, which is effectively having the branch in your pocket. The direct sales, which is our call center, consistently stayed in the mid-double digits. Fantastic achievement from all channels as well, and that sets us up as we grow, as we grow into the future as well, and especially having that 4 million client base on our platform. That's how we can communicate with them, that's how we can attract them, and that's how we can grow. The group's net interest margin has remained solid at 11%. Although it's a reduction from last year's 14%, it speaks about a business that is diversifying and speaks about a business that is moving away from the unsecured lending. As you can notice, consumer banking's NIM is at 14% and business banking NIM comes in at 3%. So great amount of diversification coming into our business. What's even more exciting is when looking at the cost of funding. Sitting at a peak at about 9%, that has reduced over time to just over 7%, while we're in an environment of an increasing interest rate cycle. So great job to the team in managing our liquidity and funding over FY 2023. Now moving on to the non-interest revenue. This is a key slide for African Bank. As you can see from the dark blue, we've moved away from being so dependent on the RDS collection fees over the years from over ZAR 500 million. Now it's just over ZAR 100 million. What's really exciting is looking at the green block. It's looking at how our credit card and transactional fees have grown in the last year. That is our clients using our cards more, using it for whether they are swiping, whether they are buying something, being part of their financial lives. Great achievement to the team. The other income has grown to over just around ZAR 650 million. That's comprising of our commissions, binder fees, unclaimed deposits, as well as the fair value gains coming through from our business banking division as well. What you're seeing here is our MyWORLD transactional accounts have more than 1 million funded customers. That's a 44% growth in numbers year-on-year. Looking at the slide at the bottom, really big success of growth in volumes and growth in values. That means our clients are using our cards more often as we become part of their lives as well. So great achievement coming through from the MyWORLD transactional account. Looking from our insurance business unit, once again, strong performance for the year, sitting at ZAR 670 million from just a year ago at just close to ZAR 350 million. How that's been achieved is we've seen the growth in premiums. However, as we move out of the COVID cycle, claims have normalized, and that has contributed to the significant growth of our insurance business for the year. Coming in, we're really gonna spend a lot of focus on the credit loss ratio and our credit risk management, and how we're managing ourselves for the second half of the year and the first half of the year, and how we're going into the future. Looking at our credit loss ratio, currently at 8%, a year ago, just under 5%. So we've seen that growth come through in our credit, credit loss ratio, no different to the market as well. Consumer banking at 10%, business banking at 0.5%, and that speaks to the diversification of the business. When looking at the credit loss ratio from a H1, H2 perspective, you can really see the improvement coming in from our ECL, from the existing book and the new business. And overarching, you can see as we end the year, credit loss ratio close to 13%, almost half in the second half of the year at just over 6%. Great achievement in tightening our credit, better collections, and that's leading to much better improvement in H2 of the year. Then coming into the credit quality and the diversification of the book, what you're noticing here is we've seen our total advances of over ZAR 40 billion. A year ago was close to ZAR 33 billion. What's more important is looking at the different stages, looking at the NPLs, looking at the coverage ratio. We sat a year ago with a coverage ratio of close to 33.5%, moving a year later into over 34.5%. Fantastic achievement in coverage as we see in the impairments increase in our book as well. What's important to focus on is the NPL ratio. A year ago was at 37%, has increased to 42%. We'll focus a bit more on that as well. A key focus on the non-performing loans, you can see it sitting at 42%, increased year-on-year. And the key focus here is, as we tightened our credit, we've had less loans come into the book, so naturally, your non-performing loans will increase. But we've got a huge focus into the future, into the next financial year, focusing on collections, focusing on treatments, focusing to assist our clients in distress. And the stuff that we're bringing to our clients is market aligned, so we can ensure that we can assist our clients, and that's gonna lead to a reduction of the NPL in FY 2024 as well. Coming into this, and this speaks to the reduction of the NPL. As we see our risk emergence reducing, what's key to focus on here is that you can see the dotted lines tapering down. As those dotted lines taper down, it means we've got a better handle on our credit risk. What that's gonna lead to is lower impairment charges in the future, as well as lower NPLs. So this is what we'll be focusing on into the new financial year as well. And just to reinforce, our collection rates are also improving. You can see how that's tapering down very nicely. Our collections team using lots of initiatives, lots of optimizations to ensure that we can collect better and now assist our clients through the cycle as well. One more to focus on how the credit impairment is gonna taper down in the coming financial year as well. Looking at the red square block, that's our stress vintages. You can see the rise of the credit risk and how that's tapered down over the last second half, and it's tapering down into the new financial year as well. So this is gonna be a key focus on how we're gonna manage our credit risk as well. Coming into our financial position, what's key to notice here is huge success, 64% growth in our balance sheet. Sitting a year ago at just under ZAR 30 billion, now we're just under ZAR 50 billion. This speaks about African Bank becoming a full-fledged bank, becoming a bank that is diversifying. So great achievement coming in here. This slide is a key focus of success for African Bank. Looking at the wholesale funding was a huge dependency a few years ago. Watch how that gray block has got smaller and smaller and smaller into each year, and see how the orange has grown as we've acquired Grindrod, as we got those business banking deposits, and our retail deposits have stayed true. True to as we got our clients in the MyWORLD accounts, as our clients have got more investment accounts, we've got a solid, great liability and funding base that sets us up into the future. And that's the funding base that, that has allowed us to acquire Grindrod and acquire Ubank with our surplus liquidity. I think just looking at the capital base of 43%, that has reduced to 30%. We've really optimized our capital. Coming in from having surplus liquidity to acquire Grindrod Bank and the asset and liability of Ubank, we've optimized that capital base to 30%. It's a great achievement, and as we look to grow the bank, we will seek to grow our capital base as well. I think just in concluding, what I'd really like to highlight is, one, African Bank has returned to profitability of ZAR 505 million for the full year. Two, great diversified balance sheet, which sets us up and gets us ready for listing soon. Three, 4 million clients on our platform, which is a great opportunity. Then moving away from the financial side, I think on the non-financial side, what's key to emphasize is the emphasis we're focusing on is credit risk management. How we're managing our controls, how we're managing our internal control environment. Key focus currently and in FY 2024. And just lastly, before I hand over to KGB, I really wanna thank Chrisanthi and Rakesh, that have held the reins before I joined. Thank you so much for giving me a great finance team to continue building on. Thank you so much. KGB? Thank you, Anbann. And congratulations on your inaugural presentation of our financial results. Now, looking forward. We've spoken here about the evolution of our Excelerate 2025. We've just passed the halfway mark. We presented it for the first time in 2021 and said that this was a strategy co-created with the people of African Bank. Over 800 African Bankers came forward and said: "This is what we want done. This is what we want stopped. This is what we should prioritize if we were to accelerate the shift from a monoline consumer lending bank into a fully fledged diversified consumer and business banking." It is a strategy that was endorsed by our board and by our shareholders as the direction of march for us over the next five years, until 2025. In the following year, we worked hard in entrenching the implementation of this strategy, and we got a significant boost with not just organic growth in strengthening the core of the business, but also expanding the core via the acquisition of Grindrod Bank and Ubank. The year that is being reported here saw us double-click on integrating these two banks, and ensuring that we step up Excelerate 25, enabling us to focus on transactional services and secured lending, thus diversifying our revenue streams, de-risking our balance sheet, building scale in the franchise, and ensuring that a customer base of just 1.1 million in 2021 when we started is expanded into a customer franchise of over 4 million today, and has got the kind of product and solutions capability that enables them to see us as a full-fledged bank. This has been the hallmark of our story here this morning, the impact of diversification of our offering to our customers and how it's benefiting both our income statement and de-risking our balance sheet. It has also been a year of ensuring agile ways of working to address the impairment problem that we had at the beginning of the year, the operational risk challenges we had at the beginning of the year, and ensure that we go another milestone in maturing our control environment and making sure that the end-to-end risk processes, resourcing of this bank is fit for the bank we're building. It has also been a year of ensuring that, over and above the new strategy, the new strategy, the new structure in place for the three banks coming together, we've got the right target operating model for a future-fit organization, and that that target operating model is led by a new culture journey that ensures that a new culture, a new way of showing up as one big African Bank, not a conglomeration of Ubank, Grindrod Bank, old Ubank, African Bank, but one bold, audacious African Bank is born. A new way of working where we have restated our values, what success looks like, what the African Bank way looks like. The culture journey that we initiated this year is, for me, the bedrock of ensuring that this integration is not just in a technical and a mechanical way, but is really the lifeblood of the new organization. This is what we focused on this year: Integration, Excelerate25, Step- up, Preparing for the IPO. In looking forward in 2024, we have themed this phase of Excelerate 25 being listing ready. This is an effort where, through stepping up Excelerate25, we'll double-click again on those end-to-end risk management interventions, on maturing our control functions... We will double-click on continuing to work in agile ways to expand our transactional services and secured lending, diversification of the bank, to ensure that we've got that non-interest revenue number continuing to climb. Our customers doing more than just lending with us, but doing overall banking with us, as they've shown by voting with their money this year in over 1 million of our customers in the MyWORLD transactional account. That we'll continue that into FY 2024. Another theme as part of getting for listing is really to ensure that we de-risk a possible IPO beyond 2025 by having a pre-IPO themed around getting a staff scheme, a management scheme, and some of our stakeholder equity investors inside the tent and reducing the proportion that we will then hopefully bring to the market, market conditions in 2025 for our people, for our customers, and as and when we list in 2025. But I should make a point here that for us, getting to listing isn't an obsession about an IPO. That is very much an outcome. The most important to do here is making sure that the financial ratios, the mile markers around what it means to have succeeded somewhat in building a customer-centric data and digitally enabled business that is diversified, has got scale, is sustainable, what it means for investors to have those mile markers. I'm going to spend the next two slides to just touch on what we believe are those mile markers. Mile markers that indicate that we are succeeding in implementing Excelerate25, but more importantly, mile markers that indicate that we are becoming a compelling proposition for buy-side and sell-side investors out there and for shareholders going forward. In here, on the left of this slide, I have targets that we set for ourselves and the board, and we committed to you in 2021, what those mile markers look like. I'm going to touch a little bit about how we're doing this year and our sense as we get to the second half of Excelerate 25, our sense as to our likelihood to meet those targets. Right at the top is the growth of non-interest income to total expenses. We started here at almost zero back in 2021, and we said we want to get to about 80% of our total expenses covered by NIR. I'll be chuffed if we get anywhere above 70%, by then. It was actually quite important for us in 2023 to have crossed that 50% marker. 50% of our total expenses covered by non-lending income in the bank. It speaks to this mantra that we indeed are no longer your mashonisa bank. We are no longer the bank that just boxes with one hand in unsecured lending. Getting our cost-to-income to attractive levels at the mid-40s. We're quite happy that, despite the investment year we've had, hitting just over 58% this year, that in FY 2024, this number ratio will go, will improve towards getting in below 50% by 2025. Net advances growing to over ZAR 30 billion in 2025. We're quite pleased that we've already met that target this year. And in fact, we are stretching in our ambitions to look at growing by over ZAR 65 billion of net advances by 2025, with the significant part of that being in secured lending. And our unsecured lending business actually growing in a decelerating rate, staying consistent to where we started off in 2021. So unsecured lending almost staying consistent, but secured lending actually being the lead in driving net advances. Despite the spike in credit losses in the first half of this year, we had committed to 11.1% at half year. We ending this year at 8% CLR, and this is a very heartening ratio for us because we had committed to you that in 2025, we tried to be less than 12%. We now think we will better that ambition by actually ending closer to being less than 7% in 2025, ensuring that we are de-risking this business going forward. Our ROE at negative when we joined in 2021 is coming up okay at 4.3% this year. And we think it will be tough for us to get to the ambition of 15% or 16% in 2025, but we'll give a good go of it. Our NPAT ambition is to grow it to ZAR 2.5 billion by 2025. We think this is soft at this time, but we're confident that we'll give it a go, even if we're just above ZAR 2 billion net profit after tax by 2025. All of our key ratios in this slide that speak to building the franchise, whether it's the customer franchise with active customer accounts. We had initially targeted to grow to 3.5 million active customers by 2025. We have already surpassed that mark with 4 million active customers in our banking platform this year. And so have put in a stretch target of growing that further to 5.5 million this year. Net Promoter Scores, our customer and business deposits, scores are for good platform score. CSI hours spent, all of our sustainability measures with respect to procurement and, BEE enterprise spend, BEE level status. All of them, actually showing that, we are ahead of target, to meet them, to exceed them in 2025. While it's gonna be tougher to meet, some, such as the Top Employer rating, wherein we have now been certified for the last two years, and we're still targeting to be ranked in the top five overall. I'm also chuffed by the fact that, we've improved our waste recycled versus waste produced, to above 39% this year. Getting us confident that the 50% target in 2025 is within reach, and also the reduction in our carbon emissions of 30% by year-end. All of these, once again, as I've said, are mile markers for us in the journey to really ensure that we have a story for investors post Excelerate 25, that is compelling. And we watch these as mile markers, both in financial and non-financial terms, and we've contacted both with the board and with the leadership team at African Bank as what it looks like to have met Excelerate 2025, what it looks like to have built a customer-centric data and digitally enabled diversified, scalable and sustainable business. Lastly, in looking forward, while headwinds in the South African economy created sustained pressure on unsecured lending over the past year, the group has made significant progress in developing a robust, risk-managed, fully fledged consumer and business banking franchise, steadily growing into an alliance banking franchise and into insurance. We've taken some key actions this year that enable this platform to be solid for diversification and for sustained and sustainable growth. At group level, significant maturation of the control environment, extensive updates to the risk management and risk practices to the group have been put in place and continue to be something we obsess about. Substantial progress in the integration of the acquired businesses has been registered to a point where it's in fact business as usual for our Ubank business and colleagues that have come on board. We are ahead of the curve in terms of Grindrod Bank, where we have brought forward our Section 54 application to ensure that they do not continue to run as a standalone, but are divisionalized in the next few weeks and months. Within the business banking division, we've expanded the business banking secured lending portfolio and are now in a position to add capital equipment and commercial property through the books and the business we are buying from Sasfin. We are in a position to enhance our value offering to customers through the business transactional account and ensuring that we develop a target market platform through digital lending capability that ensures that we tap into the e-Kasi economy and ensure that we've got a winning proposition for entrepreneurs, particularly the SMMEs market. In In consumer banking, we've driven hard transactional banking growth, as seen with the uptake in MyWORLD accounts, the fees we are getting from MyWORLD, the deposits we are getting from MyWORLD, which have got a profound impact in our cost of funding, mix of funding overall in the book, and our liquidity profile. The utilization of rewards-based incentives and partner-based ecosystems with strategic partners continue to enhance our customer value proposition in consumer banking. We are expanding our secured lending capability in consumer banking beyond what is our traditional market in the secured lending space. We're putting a lot of support behind our alliance partners, Mobile MTN, Mobile MoMo, Lesaka with social grants, Shoprite, and others that are really establishing us as the go-to banking platform in South Africa. Strengthening those relationships, ensuring that we can support the client franchise into our platforms with a variety of diverse solutions. We are rolling out a larger suite of products and insurance to ensure that our customers have an enhanced funeral product, but also the other forms of solutions in insurance beyond funeral going forward. All of these things have ensured that, we really can reduce our credit loss ratio going forward. We can de-risk the balance sheet further going forward. These are lead indicators to arresting non-performing loans going forward, whilst we grow our NII and our NIR, as a business with an ever-growing and attractive ROE, beyond 2024... 2025. We are quite chuffed that this puts us in a position where we can start laying foundational statements around a pre-IPO, as we are doing with staff, management, and preselected shareholders that want to stay the long haul with us, beyond 2025. Ladies and gentlemen, this has been a story of succeeding through tough times. Succeeding in tough conditions is a hallmark of tenacious teams, whether in the Rugby World Cup or in banking. We at African Bank remain audaciously committed to serving our mandate as a bank for the people, by the people, serving the people. A bank that was an idea in 1964 of a people that wanted to have a partner in the mainstream of the economy. An idea whose time has come, an idea that continues to manifest as a bank today. Thank you very much. Thank you again for making the time to be with us this morning. You've seen our results presentations, and we're delighted to take some of your reflections or questions at this time. The first question reads: "You have reported a 44% increase in MyWORLD customers. What do you attribute that to?" From anonymous. Sibongiseni, do you want to give that a shot? Yeah. Thank you, KGB. We have been on a amazing journey of one, really transitioning the organization from one that's historically known as an unsecured lender. That means we've had to work hard at designing new propositions, building our transactional offering, building our transactional and digital capabilities, and then coming out to market with something that's largely unique. So our core transactional product, MyWORLD, allows for people to bank themselves and bank their ecosystem, whether it's family banking or anyone that has a dependency on you, using the core transactional account as the orchestrator of that ecosystem. In addition to that, we have built an omni experience, which really means that wherever you start, whether you're starting off telephony, whether you go to branch or you go to digital, we see you, and we know you. You never have to repeat yourself. And so this seamless experience has really endeared ourselves into the market, and I think it's hit a spot with the people that have been waiting for this proposition. Well put, Sibo. Well put. You know, it goes without saying that, in any banking product, anywhere in the world, building a transactional service offering is often the hardest and most difficult to actually have a return on investment in. And so it is a key highlight of our achievement in this reporting cycle to be able to say what were green shoots a few years back when we said we're going to drive hard diversification of revenues, not just in NII, but in non-interest revenue, that it's now been done so well, via the client franchise in MyWORLD. I think it's been a great milestone for you and the team in this regard. It's been well supported as well with a rewards program that enhances value-added services for those customers that come into MyWORLD and have helped us build via what over 1 million customers now in MyWORLD? Yes, yes. A significant input into our funding base, reducing our cost of funding, significantly. We probably are one of few banks in the country today that can speak of a cost of funding that has come down significantly from the highs of 9% only a few years back, to about 7.3%, at a time when- That's right ... prime has increased by over 475 basis points. It's been helped quite, significantly by the deposits in the MyWORLD account- Mm-hmm ... amongst other retail deposits. It's changed the mix of funding from what was over 90% of wholesale funding to now less than 13% wholesale funding in our overall funding base. It is the magic of those transactional services- Yes ... for our customers being taken up so well. So, a very good question that speaks to, for me at least, one of the key themes for this, for this results announcement. Thank you for that, Sibo, and thank you for, for that question. The next question is: "Please elaborate more on the digital lending for SMME initiatives that you've got in mind", and this comes from anonymous. Zweli, this is, part of your flagship project. Yeah. Do you want to take us? No, no, absolutely. Thank you, KGB. I I think if you just look at the work that has been done in making banking services accessible in the consumer space over a period of time, absolutely great progress, but very limited progress on the business side. Mm-hmm. And yet, you know, we just simply cannot be engaging with customers on a one-to-one basis when we assess their credit requirements. So what we are talking about here is a business that enables customers to access us for credit facilities, with limits up to ZAR 5 million per customer, limits up to 5 million- Mm-hmm ... wherever they are, 24/7. Yeah. That is actually meant to introduce the same convenience that you see on the consumer side, you must actually give it to the entrepreneurs. Because entrepreneurs need time to run their businesses. Why must they come to banks? Mm-hmm. So why, why not give them an ability to access them to access you wherever they are, in their businesses or even using mobile? Yeah. I'm really, really chuffed about us being able, in 2024, to come up with this digital lending capability. Not only does it improve access to credit, it actually makes people get an answer to your credit requirements within a matter of hours. That's right. So for me, I think this is really, really going to be a good service to our entrepreneurs. It's important, specifically when you talk about the SMME sector. This sector is important from GDP growth- That's right ... important from just improving the general socioeconomic wellbeing of South Africans- Mm-hmm ... by creating more employment. Mm-hmm. I really think this is going to be a good one for us. Brilliant, brilliant. I like that very much, Zweli. We obsess about banking, not banks. And it is important- Yeah ... that whilst we've chosen so deliberately a hybrid distribution channel- Mm-hmm ... strategy, that has got, over 451 physical branches- Yeah ... at the core, is supported by direct sales, but also a fledgling, digital, platform that you've- Yeah ... you've spoken about. Yeah. It's happening, as you've said, in the SMME space for us. But we touched on earlier how we've more than doubled the uptake by consumer customers as well. Mm-hmm. From what was around 6% digital customers accessing us via digital, to now over 13%. Mm-hmm. It speaks to exactly what you've just said, the convenience- Absolutely ... the cost-effective channel, and customers being able to access us as and when they like- Exactly ... at any time. Mm-hmm. Given the omni-channel that we have- Yes ... we are able to say to our customers, "You can start a journey- Mm ... in digital, continue it in direct sale, complete it in physical as and when you like. Mm-hmm. We, you know, whilst it is germane today to only offer digital platforms, we obsess about customer centricity. Absolutely. We say, "You, the customer, you choose- Mm-hmm ... where and how and what time you want to access us. Mm-hmm. That is why we offer that hybrid solution. Yeah. Thank you for that. I can't wait for entrepreneurs in this country to get excited about your, what you are offering. We are, after all, a bank founded by entrepreneurs back in the day, and what we're doing here should resonate back to them as a measure of success for us. The third question speaks to surplus and liquidity and capital. A lot has been done in this financial year. What is planned for next year? Anbann, do you want to tackle that? Thank you, KGB. I think firstly, the first part is, I think as African Bank, we've done exceptionally well in terms of managing our liquidity and our capital. With the surplus liquidity, we've been fortunate in FY 2023 to have acquired Grindrod Bank with our surplus liquidity. We've acquired the assets and liabilities of Ubank with our surplus liquidity. We've managed our current capital base to just be majority of Tier 1, which has been phenomenal. I think what's planned next is what Sibo chatted on, and Mike, and Zweli as well, in terms of customer franchise and being on the platform. I think we're starting off the year with 4 million customers on our platform. We've got our consumer banking customers there, close to 2 million. We've got about 2 million on our alliance banking as well, to grow that franchise in terms of liquidity, as well as, as we grow the business banking. We've got roughly about 20,000 customers, but as we go into the bottom of the pyramid, that Zweli so well spoken about, as we get new entrepreneurs coming into the bank, that's naturally gonna bring in more liquidity. From a capital perspective, as we go into the future and optimize our capital and balance sheet, and we've spoken briefly about the potential Sasfin acquisition of two business units in terms of the equipment finance and in terms of the property finance. Mm. We want to utilize our liquidity as well as go into the market and look to issue Tier 2 capital. Because I think as we grow into the full-fledged bank and get into more market industries, and we look at our competitors, we are currently sitting with just Tier 1 capital. Mm. We need to get into the Tier 2 capital to optimize our capital base. I think that's what's in it for the future for us, KGB. That's a good story there, Anbann, because it does also speak to this big theme of diversifying the bank- Absolutely ... building scale and sustainability. Absolutely. That speaks as well to the theme you've raised, that while we enjoy a good capital base well above regulatory- Mm ... and board requirements, while we've got over ZAR 9 billion of surplus liquidity and we've got a sound balance sheet. I'm glad that you've made the point that part of sustainability here, normalising at this bank, is ensuring that we can also have, in addition to strong Tier 1 capital, Tier 2 capital- Exactly ... and at some point, debt as well. It is part of making sure that the bank is sound, is sustainable, and benefits from these different tranches of capital. A good way there. Our investors look forward to continuing this conversation with you over this financial year, 2024, where we are likely to then tap the markets, capital markets once again. Exactly. The next question is directed at me. It says: "Kennedy, with your revised strategy and growth trajectory, how confident are you that you are on track for an IPO listing?" Well, it's a very good question, and very well timed, as we go into the second half of the Excelerate 25 journey. One of the key themes for us in FY 2024 is to put in those anchors, if you like, for our IPO that we envisage to be at or around FY 2025, market conditions allowing. And those anchors are ensuring that, true to the mantra of being a bank for the people, by the people, serving the people, that we start with charity at home first. Talking to shareholders at this time about a staff scheme, talking to shareholders about a management scheme, talking to shareholders about a stakeholder investment scheme as part of the pre-IPO. We wish to conclude that pre-IPO in the first quarter of 2024, and therefore give ourselves a bit of time, cooling off period, leading to a consideration of a full IPO that will exit the rest of those shareholders that want to exit. As we step up into a post-capital, a post-curatorship and realisation capital structure with shareholders with a much longer investment horizon at African Bank. Shareholders that buy into our Excelerate 25 strategy for much longer. This, of course, having been a stated goal by our shareholders, as far back as 2014, 2016, when they came in at African Bank. The results we announced this morning give us confidence that, despite the spikes that we had in credit impairment losses in the first half of the year, despite the once-off integration costs we incurred in the first half of the year in taking Ubank, Grindrod Bank in, and really bringing scale onto our consumer and fully fledged business banking franchise. Completely changing the shape, the size of this business going forward. That having taken all of that in, we're reporting return to strong profitability in the second half of the year. That takes us back on track with respect to our targets in the journey to the IPO. We are chuffed that in many of the key indicators, particularly financial ratios, that we keep in mind in this journey, we are ahead of plan to the Excelerate 25 objectives, and we are back on track with respect to the profitability numbers. And maybe I should take this opportunity to expand on what I said on the presentation. That whilst a key burning platform for us is the exiting of those shareholders that want to be exited around 2025 via a retail IPO, et cetera, we do not obsess about that because it's just an outcome. What we obsess about is making sure that we advance Excelerate 25 strategy adequately in building this customer-centric data and digitally enabled business that is diversified, is scalable, and sustainable, with very clear mile markers of what success looks like for us to have a compelling narrative for new investors. I touched on it in the last two slides of our presentation. The ROE we are gunning for, the NIR over total OpEx ratio we're gunning for, the NPAT that we are gunning for. All of these key financial ratios that we believe will make our narrative compelling for new investors to come on board. That is what we've contracted with the board, we contract with the organisation as key deliverables, 'cause once we can... We have ticked those deliverables. We are confident that the capital structure issue then follows naturally. I am delighted that, as of the full year 2023 set of performance, we can say we are not only back on track with respect to those key mile markers. In many of them, we are ahead of curve. Next question. Please kindly disclose your through the cycle credit loss ratio from [Masechaba Sefularo]. Are you happy to disclose that, Anbann? I think we can just talk through it. I'm happy to, happy, happy to really talk through. I think we've sort of shown it in the slides. I think we've seen a very important part of the credit loss ratio as we looked at consumer banking from a H1, H2 perspective. We saw credit loss ratio in H1 sitting at over 13%. We saw as the consumer banking team pulled back in terms of credit granting, improved on their collections, optimized. We've got that down to 6%. So even year on, even within the halves, you can see from 13 to six. So you sort of see it through the, through the cycle, even from H1, H2, would be closer to your 8%-9%, if you sort of just average that. Consumer banking ended the year on 10%. So that's more from a consumer banking perspective. Last year in FY 2022, because majority was in terms of consumer banking, our credit loss ratio was closer to 5%. So you sort of got a good feel for where the through the cycle is. Mm-hmm. Now, you also have to consider us through the cycle. We have to speak about ourselves as a group as well. That's right. Not to forget, we speak about our diversification. When we look at from a business banking perspective, the credit loss ratio was just 0.5%. Mm-hmm. Very, very muted coming through. So as a group, we really got to look at through the cycle, and we have to consider ourselves holistically as a group. How we spoke about our net advances being well diversified into almost two-thirds of consumer banking and a third of business banking. So I think also when we discuss it from a market perspective, they must really look through the cycle as a holistic bank and see that well-diversified balance sheet coming through from through the cycle CLR ratio. Well put, Anbann. And Masechaba, if you recall, I have been transparent about this point. In 2021, when I took this Excelerate 2025 strategy to our board, to shareholders, I had anticipated at the time and contracted at the time to say that, we expect that to achieve Excelerate 2025, we're going to have to take on more risk. Mm-hmm. At the time, we said- Yeah ... our credit loss ratio would go as high as 12% by 2025. For us to get the kind of investment we need, the kind of growth we needed, we needed to take on more risk. I'm delighted. I'm delighted to say that with us having been able to really get the diversification part of our strategy moving faster than planned. And you know, growing the secured consumer lending book in consumer banking, growing transactional revenues in consumer banking, you know, getting Grindrod Bank in and growing our business banking franchise. All of these have actually given us a significant benefit in terms of CLR, that allows us to be confident in saying, with us ending this financial year at a CLR level at 8%, we think we can improve even further to a CLR of 7% in FY 2024 and FY 2025. Very different from a CLR of less than 12% we had originally anticipated. Speaking to the fact that we can now be a lot more confident about this diversified set of revenues helping us de-risk the balance sheet further. And it starts with a credit loss ratio coming down as we grow, and it speaks through to NPLs as well. Getting us to a much more healthier shape between managed growth within improved risk appetite measures. We are quite chuffed about that. It is significantly better than what we had anticipated at the start of this journey. The next question is back to you again, Anbann, on a CET1 ratio of 30%. Please elaborate on that. Yeah. Rowan Williams-Smith. Short. Apologies, Rowan Williams-Short. Question there. Perfect. Thanks, KGB. I think what's important on the, on the CET1 ratio is we're currently at 30%. I think from a target perspective, we've sort of alluded to being at around 30%, and the reason for that is we've clearly identified now that as we want to grow the business and diversify the business, and accelerate our asset growth in our business banking unit, we want to get Tier 2 capital. The reason for getting the Tier 2 capital is that we feel that 30% is quite a sweet spot in terms of where we're at from an African Bank perspective. We've really optimized our liquidity, utilizing close to 14 or close to between 15% of our capital currency to acquire Grindrod Bank and taking on their risk-weighted assets. I think 30% is really a good position to be, given where we have our regulatory requirements and our board buffers. 30% is really a good part to be at, and now grow the capital base into Tier 2, as we really accelerate that balance sheet for becoming this fully fledged bank that we want to achieve in the next few years. Lovely. Thank you very much. The next question, I think this is directed at you, Sibo. How do you see the role of fintechs, and what role can they play in your business? Yeah, thanks, KGB. This is an interesting question, and really, if I look at the years that we've gone through, historically, there was this emerging tension between fintechs and banks. Mm-hmm. Fintechs wanting to become banks, and banks wanting, wishing they were fintechs. I think we've really now hit the sweet spot, and we've recognized that working together, we can leverage the core capabilities on either side. In fact, we have recently launched, in 2023, one of our flagship programs called Digital Transformation. Mm. Because what we understand as the strengths of fintechs is that they are able to hone in and solve for customer friction and create journeys at a rate faster than you would if you were a bank- That's right ... solving that on your own. Mm. This convergence, therefore, of fintech capabilities into banking allows us not to solve for current friction, not to solve for current processes and digitizing our current business, but actually to find new sources of revenue- Sure ... that we are able to then build, commercialize, and get our customers to entrench their relationships with us. So this, for us, is part of our ecosystem- Mm ... and we are really excited with these partnerships. Exactly, exactly. You're on point there, Sibo, 'cause for us, it's very much part of our strategy, isn't it? It's not a side gig for somebody. Mm. We're clear from day one that Excelerate 25 was founded on two key pillars of strengthening the core and expanding the core. Mm. In the expansion of the core, it was exactly what you've just said. Positioning ourselves as the go-to bank in South Africa for fintechs, for value-added service providers, for non-bank financial institutions, for the very same benefit you've just described here. And I think, in a short period of time, we can really be chuffed that we have been chosen once again by big giants like Shoprite, MTN, and MoMo, by Lesaka ... Social Grants, to be their go-to partner in banking. Anbann opened his presentation by stating that we've grown our customer franchise from when I joined, 1.1 million, to now over 4 million. And significant part of those customers are in our platform, as part of our benefit brought in by our fintech partners in there. Sibongiseni is absolutely correct. For us, this is the future of financial services. Making sure that, given our size, we, we're not too big to be arrogant- Mm. -but hopefully we're not too small to ignore. We've got the kind of core banking platform, the omni-channel, that allows for API plug and plays, making it that much more easier for fintech players to partner with us, as a, as a banking sponsor, as a platform, that enables us to advance lives- Mm-hmm ... through financial services- Yeah ... and not just getting stuck on traditional bank. So thank you for that. I would- Perhaps, KGB- Yeah ... the one point on fintechs, for us, it's not just a consumer banking play. And, I spoke earlier on about building this and coming up with this digital lending business. Mm-hmm. The good thing is, you know, we went out and sought a fintech to play with us. Yeah. All we're doing is taking what they've always done very well and repurposing it for African Bank. Yeah. Yeah. We truly are embracing across the business- That's right ... of fintechs, and we'll continue- Yeah ... to, because they actually help us with the speed to market. Wonderful. Wonderful. Mm. Thanks for raising that, Zweli. Question eight is: What role do you think bricks and mortar play in your franchise, Sibongiseni? Yeah. We have taken a very deliberate decision that, for us, we will continue to do business in customer terms. Mm-hmm. That's quite very important because what we then do is we look at what capabilities we need to deploy to be true to that. Mm-hmm. And so one of the key decisions is that we will always continue to have branch as part of our mix. Mm-hmm. Actually, physical for us goes beyond just branch. Yeah. It's a branch network, it's ATM networks, it's deploying devices in the hands of customers- Mm-hmm ... so that we solve for all of those jobs to be done that require physicality. Mm-hmm. Really, they range from onboarding, they range from recovery if you've been shut out, they range from handling cash, and they range from being comfortable in the people that you deal with, who are local, converse in your own language- Mm-hmm ... and can translate what you are saying into intelligence that allows us to respond- Interpret. Yeah ... with real-time offers and responses as a brand. Branches play a very pivotal role, and we'll continue to have them as part of our mix. Thank you, Sibongiseni. Thank you, colleagues. As I did in my wrap-up, citing the story of our rugby team, and one might as well add both the Proteas and the Sundowns men and women's teams who got huge prizes over the last few weeks. The hallmark of tenacious teams is how they deal with adverse conditions and how they thrive through them. I want to pay special tribute to the African Bank team, which in a year of integrating three banks all at once, in a year of significant credit impairment spikes, they have once again shown their mettle by ensuring that we back our customers, we support them through these tough macroeconomic conditions. We continue to accelerate our shift into transactional banking, raising non-interest revenues, diversifying our revenue streams, de-risking the balance sheet- Mm ... bringing scale to the franchise, and ensuring that the path to a sustainable, African Bank, that is a bank for the people, by the people, serving the underserved, is on track and ahead of schedule. I pay tribute to that African Bank team that has once again delivered the goods, and I thank every one of you for giving us audience this morning. Bye-bye. Thank you.