Zimbabwe, a landlocked country in Southern Africa, lies entirely within a total of five transboundary river basins (Buzi, Limpopo, Pungwe, Save and Zambezi) and one international lake (Kariba) while the number of transboundary aquifers is yet to be ascertained. These transboundary basins create socio-economic, environmental and political interdependencies between countries, making cooperation over them crucial.  

In this context, Zimbabwe confirmed during a national workshop its intention to accelerate the accession process to the Convention on the Protection and Use of Transboundary Watercourses and International Lakes (UN Water Convention) which constitutes a unique global legal and intergovernmental framework for the sustainable management of transboundary water resources, serviced by UNECE. Zimbabwe’s Deputy Minister of Lands, Agriculture, Fisheries, Water,&Rural Development, Mr. Vangelis Peter Haritatos, reiterated the aim “to propel forward the process towards Zimbabwe’s accession to the UN global water conventions which will enable Zimbabwe to accrue multiple benefits in transboundary water resources management”. 

The national workshop, organized on 17-18 June 2024 in Harare, discussed both the UN Water Convention, adopted in 1992, and the Convention on the Protection and Use of Transboundary Watercourses and International Lakes (UN Watercourses Convention) adopted in 1997, collectively referred to as the ‘UN global water conventions’. It was an opportunity for Zimbabwe to detail the obligations under both conventions, the benefits it can derive from accession, possible challenges, as well as the next steps in the process. The Deputy Minister reaffirmed “the Government’s readiness and commitment to the accession of the UN global water conventions” highlighting that “Zimbabwe intends to join both conventions on the basis of their compatibility and complementarity.” 

Bringing together over 60 participants from different ministries, basin and regional organizations, academia and civil society, among others, the national workshop unpacked how the UN Water Conventions will add value to the many existing transboundary water cooperation initiatives to which Zimbabwe is already a part of.  

Zimbabwe is a party to several basin agreements and a member State of the associated river basin organisations, including BUPUSACOM, LIMCOM, ZAMCOM, representatives of which also took part in the discussions. Zimbabwe is also a party to the 2000 Southern African Development Community’s (SADC) Revised Protocol on Shared Watercourses. The recent results of the 3rd reporting exercise measuring progress to achieve SDG indicator 6.5.2 on transboundary water cooperation (2023) further demonstrate Zimbabwe’s commitment to strengthen transboundary cooperation over increasingly scarce shared water resources, improving from having 69.90% of all its shared basins covered by operational agreements for cooperation in 2020, to 90.4% in 2023. Despite strong progress, challenges were also highlighted, especially with regards to data collection and management and groundwater management. 

The notable momentum towards accession to the UN Water Convention in Southern Africa – with Namibia as the first Party in the region following its accession in 2023; and Zambia, Botswana and Tanzania currently in accession processes and Malawi having indicated its readiness to start the process – creates the enabling conditions for other countries to join and maximize the relevance and usefulness of the Water Conventions and the related tools. As highlighted by the Deputy Minister, with its upcoming accession, “ Zimbabwe is sending a tone to other countries in the region which may help them decide on acceding to the conventions”. 

Recognised by the Ambassador of the Delegation of the European Union to Zimbabwe, Mr. Jobst von Kirchmann, as a “milestone moment” for Zimbabwe’s initiatives in the sphere of transboundary water cooperation, highlighting also the importance given by the EU to transboundary water cooperation as a tool for peace, security and stability, the workshop paved the way for promising work to strengthen transboundary water cooperation and management at national and regional level. As such, implementing the Water Convention will build on the existing initiatives and work already undertaken by Zimbabwe and in collaboration with relevant technical and financial partners.  

In this regard, the United Nations Resident and Humanitarian Coordinator for Zimbabwe, Mr. Edward Kallon, reaffirmed the UN’s “commitment to supporting the Government in sustainable management of all water resources and active engagement in regional and transboundary initiatives that promote attainment of all SDGs.”  

The workshop was organized under the European Union project “Promoting accession to the Water Convention”, which aims to support accession to and implementation of the Water Convention, thereby strengthening transboundary water cooperation and the sustainable and peaceful management of shared water resources. 

Distributed by APO Group on behalf of United Nations Economic Commission for Europe (UNECE).

When it comes to proving your identity online, face ID – also known as face biometrics – is fast becoming one of the most reliable methods of authentication. Why? Because your unique facial features are the most reliable indicator of what makes you, you. When used in conjunction with ‘liveness’ technology, a process that proves that a person is real and using their face to log in at that moment in time, this technology offers powerful protection against potential fraudsters and cyber criminals. But what happens when our appearance changes with age, or we get a rhinoplasty or lip fillers? Could changes to our face make our own face ID tools lock us out?

Appearance changes and face recognition

The good news is that the natural process of aging doesn’t have a significant effect on face identification – to a point. In 2017, Michigan State University (apo-opa.co/3RxvGgK) investigated the extent that facial aging affects the performance of facial recognition systems. The study found that 99 percent of facial recognition images could still be recognised up to six years later. However, the face does change naturally over time, and the accuracy began to drop when images of a person were taken more than six years apart. This, of course, varies from person to person.

Murray Collyer, COO of iiDENTFii, an award-winning remote biometric identification platform, says: “Our technology asks users to take a selfie from a specific angle. This confirms that a real, live person is trying to log into the account and that a fraudster is not using a photo of your face to try log in. We confirm the person’s identity by cross-referencing it with existing official identity records, such as a person’s government-issued ID. This means that, even if your face changes as you age, you will still be successfully identified if your official ID documents are reasonably up to date.” As the research above explains, ‘reasonable’ is usually within the past six years.

However, when it comes to plastic surgery, there are some procedures that might confuse face ID tools. Procedures (apo-opa.co/45weldQ) that change the volume of tissue in the face, such as cheek implants, lip fillers or buccal fat reduction, may change your appearance enough for you to not be recognisable to your face ID on record. Tissue-lifting procedures such as eyelid surgery or a brow lift may also affect facial recognition.

As many algorithms process face recognition by mapping the central face, any procedures done to the central face are most likely to stymy the system. Cosmetic surgery that impacts the side view of the face, such as botox, neck lifts or lower facelifts are less likely to affect facial recognition systems.

Collyer adds, “It’s also important to remember that, when a person has plastic surgery to improve their appearance, they may look different to the human eye but not to a facial recognition tool. This is because the ratios for facial recognition are not the same ratios that the human eye aspires to when seeking out cosmetic procedures.”

In the case of iiDENTIFii, customer’s facial data transforms into a biometric hash, an encrypted set of ones and zeros stored securely in a biometric vault. This encrypted data, also referred to as a “reference template”, serves as the benchmark for verifying the returning user’s face against the initial onboarding image.

“This process only occurs once, at the time of your first enrolment. After that our process, if required, will adapt as you age. The ‘Genesis Selfie’ can be done as often as you like – for example, on Day 1, your selfie is compared to an 8 year old ID image, while on Day 3, it is compared to a 3-day old selfie. Your selfie can be updated each time you do it to be the most accurate. In that way, our system ages with you.”

What else can affect face recognition?

Face mapping is a sensitive process, which is why platforms such as iiDENTIFii request a series of static selfies. A face cannot be mapped accurately when the person is moving. However, even if a person takes a selfie in a dimly-lit room,  or on a poor-quality digital camera it can still provide enough information to pass or fail the face scan. With a selfie, iiDENTIFii uses 4D facial recognition to prove biometric liveness. “We use a unique sequence of lights each time the user interacts with the system to ensure they are present at the time of onboarding, and not a prerecorded video or animation,” comments Collyer.

As  Collyer explains, “Not all face mapping technology is equal. iiDENTIFii stands out for its NIST-accredited face match algorithms, ensuring the highest standards of accuracy and reliability. Put simply, this means we have scientifically stress-tested our solution to ensure it can identify the facial features of a user under various conditions.” iiDENTIFii’s face authentication accuracy rate stands at 1 in 250,000 False Accept Rate (99.999% accuracy) and 1 in 10,000 False Reject Rate. Given that the human eye, at best, reaches an accuracy of 85% (apo-opa.co/3RA8EFY), a good face mapping tool can often be more effective than a human.

There is also the question of ethnicity. Historically, face recognition tools have come under fire for misidentifying various people, particularly those of non-white ethnicities (apo-opa.co/3z99naU). However, great strides have been made in this regard. “iiDENTIFii’s algorithm has been built on over 50 million African face match operations,” says Collyer, “meaning that we are well-equipped to effectively identify a wide range of faces on the African continent.”

While certain physical changes may have an impact on your face mapping tools, there is nothing to worry about if the rest of your identity documents are up to date. “iiDENTIFii cross-checks the facial biometric image from the selfie, with the facial biometric image on the official identity document. If this document still fairly represents you, then face authentication will be seamless,” concludes Collyer. However, if you know that you look dramatically different to your ID, then it’s best to update all your identifying information so that your bank, your phone and the government knows that it’s still you.

Distributed by APO Group on behalf of iiDENTIFii.

About iiDENTIFii:
iiDENTIFii is an award-winning face authentication and identity verification platform that distinguishes itself through its use of 3D and 4D Liveness® detection. Purpose-built for enterprises across Africa and the Middle East, iiDENTIFii enables frictionless, scalable customer onboarding in seconds from anywhere and on any device. Founded in 2018, iiDENTIFii has become a proven key partner in multiple tier 1 African banks. The technology plugs seamlessly into existing infrastructures, including mobile and web-based platforms. www.iiDENTIFii.com

Stellantis (www.Stellantis.com) is a highly differentiated OEM lending it specific advantages against a dynamic and disruptive industry backdrop; Standout, multi-energy technology and manufacturing flexibility enable it to leverage its competitive advantages across a wide variety of electrification adoption scenarios; Stellantis is addressing 2024 headwinds thoughtfully and will continue to deliver industry-leading profitability, affirming its 2024 financial guidance; Company is committed to powerful capital returns, thanks to its strong balance sheet and profitable business model.

Just over three years since its formation, Stellantis has successfully established itself as a leading global automaker and, even more importantly, one that through the execution of its Dare Forward 2030 (https://apo-opa.co/3RxuNEW) long-term strategic plan is even better positioned to face the challenges ahead. Today, at Stellantis’ first Investor Day, CEO Carlos Tavares outlined nine key strategic differentiators the Company is leveraging to unlock value and address the disruption and reinvention of the auto industry worldwide.

Stellantis Key Strategic Differentiators

Fortified by Dare Forward 2030

Best Positioned Core

Clear Profitability Advantages

Critical Speed&Agility

Portfolio of 14 iconic and innovative brands covering all price points and multiple regional markets

Fully scaled Pro One commercial vehicle business, with mid-to-high teens profitability, and positioned to achieve global leadership

Re-set and re-launch of asset-light China strategy with Leapmotor, a top 3 Chinese EV startup brand in 2023

Global market presence combining scaled North America and Enlarged Europe regions with rapidly expanding 3rd Engine [1]

Ability to deliver double-digit margins across the cycle, with a < 50% break-even point

Leveraging global reach to maximize Best-Cost Country opportunities

Unique multi-energy approach, spanning products, platforms, manufacturing and supply chain

Sustainable R&D/CAPEX efficiency, a key component of a powerful capital plan

Rapid development of next-gen portfolio and accretive affiliate businesses

[1] The “3rd Engine” refers to an aggregation of the South America, Middle East&Africa, China and India&Asia Pacific segments.

“Today we are a unique company by nature and a powerful carmaker by performance, well-equipped to deliver through tough times and win the long game. Our global presence, powerful technology and brand portfolio span across diverse products – ranging from quadricycles to luxury cars – giving us an enviable customer reach,” Stellantis CEO Carlos Tavares told attendees.

“What consumers around the world are looking for is clean, safe and affordable mobility. This is the reason we exist. We are driving a generational shift in technology and a product wave built on multi-energy platforms and flexible operations with above-group profitability in our commercial vehicles business. Together with the activation of our uniquely aligned partnership with Leapmotor, an innovative Chinese new energy vehicle maker, we’re confident we can deliver what customers want while providing strong shareholder returns this year, and beyond.”

In addition to the CEO’s overview of the Company’s key strategic differentiators, which are unlocking exceptional opportunities, members of the Top Executive Team also gave updates spanning several areas of the business.

North American Chief Operating Officer Carlos Zarlenga discussed 2024 actions taken to restore market share, improve inventory dynamics, and capitalize on specific low emission vehicle growth opportunities in the medium-term. 

Enlarged Europe Chief Operating Officer Uwe Hochgeschurtz reviewed the Company’s multi-faceted response to rising competition from Chinese OEMs.

Middle East&Africa (MEA) Chief Operating Officer Samir Cherfan reviewed the many benefits of an increasingly localized approach to serving the MEA region, supporting the stand-out growth and profitability of Stellantis’ “Third Engine”.

Jeep® CEO Antonio Filosa, Ram CEO Chris Feuell and Peugeot CEO Linda Jackson discussed how a powerful, strategically focused product wave expands the market opportunities of each.

Chief Engineering and Technology Officer Ned Curic, Chief Purchasing and Supply Chain Officer Maxime Picat and Chief Manufacturing Officer Arnaud Deboeuf focused on Stellantis’ extraordinary management of the value chain with flexible platforms, products and operations, with particularly valuable multi-energy capabilities, able to address different scenarios.

Assessing Key 2024 Financial Drivers

CFO Natalie Knight also provided a financial review highlighting Stellantis’ key 2024 performance drivers and considerations.

“Stellantis is responding decisively to near-term challenges, including optimizing inventory while executing a generational product transition,” said Natalie Knight. “Despite the related short-term headwinds, we remain confident in our ability to deliver double-digit profitability, among the best OEMs in the world, while continuing to deliver exceptional capital returns to shareholders.”

Stellantis management confirmed its 2024 financial guidance and capital return plan:

Double-digit Adjusted Operating Income (AOI) margin and positive industrial free cash flows.
Capital Return: Delivering ≥€7.7 billion in dividends and buybacks in 2024.

CFO Natalie Knight reiterated more specific color on first and second-half expectations within the 2024 period:

H1 outlook of 10-11% AOI margin, with industrial free cash flows visibly below the prior year period.
Significant product launches, cost initiatives and anticipated improvement in working capital together support H2 sequential improvement opportunity in AOI and industrial free cash flow.

The Company also enhanced its capital plan in several significant ways:

Setting target liquidity levels of 25-30% of revenues for the mid-term, shifting focus to capital efficiency and supporting strong shareholder returns.
The Company will continue to use share buybacks and ordinary dividends to return excess cash to shareholders.
In 2025, the Company will target the upper range of its 25-30% dividend payout policy, vs. 25% in recent years.

The 2024 Stellantis Investor Day hosted analysts, investors, and media in Auburn Hills, Michigan, U.S. For those unable to view the Stellantis Investor Day webcast, a recorded replay and the presentation material will be available under the Investors section of the Company’s corporate website: https://apo-opa.co/3z8UTrE

Distributed by APO Group on behalf of Stellantis.

For more information, contact:
Fernão SILVEIRA 
+31 6 43 25 43 41
fernao.silveira@stellantis.com

Nathalie ROUSSEL 
+33 6 87 77 41 82
nathalie.roussel@stellantis.com

Shawn MORGAN 
+1 248 760 2621
shawn.morgan@stellantis.com

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communications@stellantis.com
www.Stellantis.com

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About Stellantis:
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It’s best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, with single-digit percentage compensation of the remaining emissions, while creating added value for all stakeholders. For more information, visit www.Stellantis.com.

Forward-Looking Statements:
This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. 

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; Stellantis’ ability to successfully manage the industry-wide transition from internal combustion engines to full electrification; Stellantis’ ability to offer innovative, attractive products and to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; Stellantis’ ability to produce or procure electric batteries with competitive performance, cost and at required volumes; Stellantis’ ability to successfully launch new businesses and integrate acquisitions; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis’ vehicles; exchange rate fluctuations, interest rate changes, credit risk and other market risks; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis’ vehicles; changes in local economic and political conditions; changes in trade policy, the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the level of governmental economic incentives available to support the adoption of battery electric vehicles; the impact of increasingly stringent regulations regarding fuel efficiency requirements and reduced greenhouse gas and tailpipe emissions; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the level of competition in the automotive industry, which may increase due to consolidation and new entrants; Stellantis’ ability to attract and retain experienced management and employees; exposure to shortfalls in the funding of Stellantis’ defined benefit pension plans; Stellantis’ ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the operations of financial services companies; Stellantis’ ability to access funding to execute its business plan; Stellantis’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with Stellantis’ relationships with employees, dealers and suppliers; Stellantis’ ability to maintain effective internal controls over financial reporting; developments in labor and industrial relations and developments in applicable labor laws; earthquakes or other disasters; risks and other items described in Stellantis’ Annual Report on Form 20-F for the year ended December 31, 2023 and Current Reports on Form 6-K and amendments thereto filed with the SEC; and other risks and uncertainties. 

Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis’ financial results, is included in Stellantis’ reports and filings with the U.S. Securities and Exchange Commission and AFM. 

Zambia’s Minister of Finance and National Planning Situmbeko Musokotwane will speak at the upcoming African Energy Week (AEW): Invest in African Energy conference – Africa’s premier energy event, scheduled for November 4-8 in Cape Town. Through his participation, Minister Musokotwane will provide strategic insights into investment opportunities across Zambia’s energy sector – a market ripe with opportunity.

Zambia is exploring various financing mechanisms to enhance investment flows within the energy sector for improved energy security. In April 2024, the Zambian government introduced the Demand Stimulation Incentive, a financial mechanism aimed at attracting investments in mini-grids. The incentive will support Zambia’s 1,000 Mini-Grid Initiative, designed to accelerate energy access through mini-grid deployment. Innovative finance mechanisms designed to boost energy investments in Zambia will be unpacked during AEW: Invest in African Energy.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Zambia is strengthening its cooperation with global financial institutions to accelerate energy mix diversification, address an 810 MW energy demand-supply gap, and achieve its goal of universal energy access by 2030. Currently, 31% of the population is connected to the grid. In April 2024, Zambia secured funding from the World Bank to implement the National Energy Advancement and Transformation Program. The $700 million project aims to attract private sector investment to improve electricity infrastructure and enhance the financial sustainability of state utility Zesco.

Additionally, Zambia is collaborating with the African Development Bank to raise funds for multiple power projects, including the Itezhi-Tezhi (ITT) Transmission Line project and the Wind Energy Promotion Project. During the event, Minister Musokotwane will discuss the role of public-private partnerships in advancing Zambia’s energy sector growth, unpacking how the country is working with private players to advance power projects.

In the oil and gas industry, Zambia is prioritizing cooperation with regional counterparts – including Angola, Namibia and Tanzania – to fund infrastructure projects and secure petroleum supplies. The country’s total petroleum requirements are met through imports due to the lack of commercial oil and gas discoveries. As such, cross-border projects have been given priority status as the government aims to secure trade partnerships.

Zambian company Tazama Pipelines plans to invest $2.5 billion towards the expansion of the existing Tanzania-Zambia Crude Oil Pipeline. The pipeline will enable Zambia to capitalize on oil and gas from upcoming projects across the East African region, including the Kingfisher and Tilenga developments in Uganda and the Tanzania LNG project. In 2023, Zambia and Tanzania agreed to enhance financial and security contributions to protect and maintain the pipeline.

Additionally, in January 2023, Zambia signed an agreement with Angola to increase oil and gas imports, following a 2022 deal where Zambia acquired a stake in Angola’s planned 200,000 barrels per day Lobito Refinery project. Zambia and Angola are also working on a $5 billion pipeline project to transport petroleum products from Angola to Zambia. Furthermore, in 2022, Zambia signed a deal with Namibia to develop an oil pipeline from the Namibian port of Walvis Bay. The pipeline will enable Zambia to tap into Namibia’s growing oil and gas potential from the country’s recent discoveries.

In-country, private and public entities are adopting new financing mechanisms to support infrastructure growth. Swiss petroleum business company Puma Energy partnered with Zambian bank Zanaco to launch the Micro-Financing LPG project in 2023. The project will provide funding to consumers and LPG businesses to accelerate the adoption of LPG for clean cooking in Zambia. AEW: Invest in African Energy represents the best platform for Minister Musokotwane to discuss incentives and policies aimed at attracting investment across Zambia’s oil and gas value chain.

“Zambia has made notable progress in integrating its energy sector with regional counterparts to strengthen its grid and energy supply. Zambia’s investment climate is positive, presenting an opportunity for the country to secure new partners for energy sector growth,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.

During AEW: Invest in African Energy, Minister Musokotwane will engage in high-level panel discussions and exclusive networking sessions, highlighting lucrative investment prospects in Zambia’s energy industry.

Distributed by APO Group on behalf of African Energy Chamber.