Africa remains structurally short of reliable power and these value enhancing and vital building blocks for the African economy are well supported, enjoying sustainable capital and margin growth. The success of our renewable power business is a testament to the fact that Africa can compete with the best in the world in this sector. As African commodity markets evolve and deregulate, Thebe is ready to participate further by utilising our trading knowledge and businesses to capture margin across the commodity value chain. Although significant value has already been created in the Energy & Resources Division, we are confident that our investments will continue to return market-beating results. Thebe stands to benefit further from several strategic investments close to their BEE maturity dates, allowing Thebe to exercise its embedded real optionality in those portfolios.