1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. 2 00:00:09,480 --> 00:00:13,640 Speaker 2: Elections in Cameroon and Ivory Coasts saw victories for their 3 00:00:13,680 --> 00:00:16,439 Speaker 2: long serving leaders. 4 00:00:16,440 --> 00:00:20,239 Speaker 3: Mister Alison Watara has been provisionally declared elected in the 5 00:00:20,280 --> 00:00:23,639 Speaker 3: first round with eighty nine point seven seven percent of 6 00:00:23,640 --> 00:00:28,480 Speaker 3: the votes cast. 7 00:00:27,080 --> 00:00:31,000 Speaker 2: But with opposition candidates barred from running. There's a warning 8 00:00:31,200 --> 00:00:36,320 Speaker 2: about the rise of democratic dictators. The population knows very 9 00:00:36,320 --> 00:00:41,280 Speaker 2: well that the Constitutional Council and the Electoral Commission are 10 00:00:41,479 --> 00:00:44,960 Speaker 2: just an extension of the regime. On today's podcast, we're 11 00:00:45,000 --> 00:00:49,680 Speaker 2: discussing the wave of no contest elections across Africa, why 12 00:00:49,720 --> 00:00:54,520 Speaker 2: political analysts are concerned, and which countries are bucking the trend. 13 00:00:57,440 --> 00:01:00,120 Speaker 2: I'm Jennifer Zaba Saja and this is the Next to 14 00:01:00,160 --> 00:01:03,680 Speaker 2: Africa podcast, bringing you one story each week from the 15 00:01:03,720 --> 00:01:07,000 Speaker 2: continent driving the future of global growth with the context 16 00:01:07,120 --> 00:01:12,000 Speaker 2: only Bloomberg can provide. Joining me this week is Bloomberg 17 00:01:12,080 --> 00:01:15,920 Speaker 2: Senior reporter Yinka Ibukun, who's written one of this week's 18 00:01:15,959 --> 00:01:18,720 Speaker 2: Next Africa newsletters on this very subject. 19 00:01:19,080 --> 00:01:21,440 Speaker 3: Yinka, thanks so much for being with us this week. 20 00:01:21,920 --> 00:01:23,160 Speaker 1: Thanks for having me ched. 21 00:01:23,480 --> 00:01:25,560 Speaker 2: Yeah, it's it's always great to speak with you and 22 00:01:25,640 --> 00:01:28,920 Speaker 2: catch up with you, there's been quite an activity, at 23 00:01:29,000 --> 00:01:32,280 Speaker 2: least on the electoral front across the continent, and we're 24 00:01:32,280 --> 00:01:35,080 Speaker 2: going to try to unpack it in the next few minutes. 25 00:01:35,120 --> 00:01:39,760 Speaker 2: But maybe we'd just start with Cameroon because many people 26 00:01:39,880 --> 00:01:44,679 Speaker 2: are looking at the age of Paulbia, ninety two years old. 27 00:01:44,840 --> 00:01:48,520 Speaker 2: He won an eighth term and he's the world's oldest president. 28 00:01:48,880 --> 00:01:51,720 Speaker 2: I mean, break this down for us. What would you 29 00:01:51,720 --> 00:01:53,720 Speaker 2: say is the significance of this election? 30 00:01:55,160 --> 00:01:58,800 Speaker 1: Yeah, well, I mean this election has put cameboon at 31 00:01:58,800 --> 00:02:02,960 Speaker 1: Adges Crossroad. I would say that the attentions kicked off 32 00:02:03,000 --> 00:02:06,240 Speaker 1: when the main opposition leader was barred from running back 33 00:02:06,400 --> 00:02:10,720 Speaker 1: in July, and that basically meant that the president would 34 00:02:10,720 --> 00:02:15,760 Speaker 1: be facing a weekend opposition. But it was the candidacy 35 00:02:15,880 --> 00:02:19,760 Speaker 1: of Ista Chiroma Bakari, who's a man who served in 36 00:02:19,840 --> 00:02:24,040 Speaker 1: the Bia administration for about two decades, that ended up 37 00:02:24,080 --> 00:02:28,440 Speaker 1: being the real game changer in this election because young 38 00:02:28,560 --> 00:02:32,720 Speaker 1: people have been hungry for change in Cameroon. They've never 39 00:02:32,800 --> 00:02:37,440 Speaker 1: known any leader other than Bia, and so they rallied 40 00:02:37,440 --> 00:02:42,200 Speaker 1: around Chiroma and came out and masked to vote for him, 41 00:02:42,680 --> 00:02:45,920 Speaker 1: to the point where Chiroma actually declared himself winner of 42 00:02:45,960 --> 00:02:49,320 Speaker 1: the vote by his own party tally FO. Days later, 43 00:02:49,440 --> 00:02:52,640 Speaker 1: the official results said that it was President Bia and 44 00:02:52,760 --> 00:02:56,360 Speaker 1: not Chiroma, who won the election with four percent of 45 00:02:56,400 --> 00:03:01,240 Speaker 1: the vote, and so that decisive win has fit claims 46 00:03:01,240 --> 00:03:04,720 Speaker 1: that there was rigging, especially because the are barely even 47 00:03:04,840 --> 00:03:08,240 Speaker 1: campaign and as you said, he's ninety two years old, 48 00:03:08,280 --> 00:03:11,520 Speaker 1: the oldest president in the world. He's been in power 49 00:03:11,720 --> 00:03:15,760 Speaker 1: in Cameroon for more than forty years, and so. 50 00:03:15,880 --> 00:03:17,920 Speaker 3: Here you are, he hardly. 51 00:03:17,560 --> 00:03:20,560 Speaker 1: Shows up at the campaign and still walks away with 52 00:03:20,639 --> 00:03:24,280 Speaker 1: a comfortable win in a country that's basically facing a 53 00:03:24,320 --> 00:03:30,239 Speaker 1: successionist war, where his administration has chased lots of corruption scandals, 54 00:03:30,720 --> 00:03:34,800 Speaker 1: and also where there's really high youth unemployment. And so 55 00:03:34,880 --> 00:03:40,240 Speaker 1: as we speak, there's actually sporadic protests erupting across Cameroon 56 00:03:41,520 --> 00:03:43,680 Speaker 1: to challenge the outcome of the vote. 57 00:03:44,120 --> 00:03:47,960 Speaker 2: Wow, and a country with the median age of eighteen 58 00:03:48,040 --> 00:03:51,920 Speaker 2: years old, right having, as you mentioned, probably haven't known 59 00:03:52,080 --> 00:03:55,920 Speaker 2: any other leader, most of them, Yinka. Let's also move 60 00:03:55,960 --> 00:03:58,720 Speaker 2: on to the Ivory Coast. In an earlier podcast, we 61 00:03:58,800 --> 00:04:01,440 Speaker 2: talked about some of the challenges that the country was 62 00:04:01,440 --> 00:04:06,080 Speaker 2: facing leading up to October's vote. Now Watara has been 63 00:04:06,280 --> 00:04:09,440 Speaker 2: re elected. What do you make of the response, and 64 00:04:09,520 --> 00:04:12,960 Speaker 2: especially from the international community because he is well known 65 00:04:13,360 --> 00:04:16,200 Speaker 2: and to a certain extent well regarded internationally. 66 00:04:16,680 --> 00:04:20,280 Speaker 1: So Ivory Coasts also just concluded its vote and Wataha 67 00:04:20,279 --> 00:04:25,599 Speaker 1: won with ninety percent of the vote after key challenges 68 00:04:25,640 --> 00:04:29,200 Speaker 1: were excluded. So with that result, you know, there's also 69 00:04:29,360 --> 00:04:33,200 Speaker 1: eyebrows being raised. It was hardly an open vote, I 70 00:04:33,240 --> 00:04:37,280 Speaker 1: think that's fair to say, but the international community has 71 00:04:37,360 --> 00:04:43,200 Speaker 1: largely looked away, and there's probably two reasons why that is. First, 72 00:04:43,279 --> 00:04:48,120 Speaker 1: Wataha has delivered strong economic growth for Courdivois, which is 73 00:04:48,640 --> 00:04:53,880 Speaker 1: Africa's biggest coco producer, and he's created an investor friendly 74 00:04:54,000 --> 00:04:59,160 Speaker 1: environment there. But perhaps more importantly, he's seen as a reliable, 75 00:04:59,600 --> 00:05:03,560 Speaker 1: secure ally in a region that's been threatened by jihadists. 76 00:05:04,400 --> 00:05:09,000 Speaker 1: And so for Western government it's likely a situation where 77 00:05:09,240 --> 00:05:15,520 Speaker 1: they're balancing their priorities and choosing probably stability of more 78 00:05:15,560 --> 00:05:19,360 Speaker 1: democratic concerns. Though it's interesting to note that it's actually 79 00:05:19,360 --> 00:05:23,599 Speaker 1: not been like the regular congratulatory messages, so they've not 80 00:05:23,680 --> 00:05:28,039 Speaker 1: criticized the vote, but they's not congratulated Wataha either. 81 00:05:28,640 --> 00:05:31,680 Speaker 3: And let's go from the West to the east. Yinka. 82 00:05:31,720 --> 00:05:35,559 Speaker 2: Because Tanzania just went to the polls on Wednesday where 83 00:05:35,720 --> 00:05:38,160 Speaker 2: another opposition figure was barred from running. 84 00:05:38,880 --> 00:05:40,720 Speaker 3: What's the state of play there. 85 00:05:41,120 --> 00:05:44,599 Speaker 1: Unfortunately, it's more of the same Jenet bite. It's becoming 86 00:05:44,640 --> 00:05:49,280 Speaker 1: a pattern. This a situation where the opposition is barred 87 00:05:49,480 --> 00:05:53,160 Speaker 1: and then a clear path is created for the incumbent 88 00:05:53,360 --> 00:05:57,920 Speaker 1: to stay in power. And so what you saw in 89 00:05:58,040 --> 00:06:02,200 Speaker 1: Cameroon in Ivory coast's basically also happening in different ways 90 00:06:02,240 --> 00:06:04,839 Speaker 1: to a different degree, but it's happening all the same 91 00:06:05,560 --> 00:06:09,680 Speaker 1: in Tanzania. And so in the case of President Samya 92 00:06:09,760 --> 00:06:14,039 Speaker 1: Suluhu Hassan, it's two main key opponents that were barred 93 00:06:14,080 --> 00:06:18,520 Speaker 1: from running, including one that's facing trees and charges. And 94 00:06:18,640 --> 00:06:22,760 Speaker 1: so yes, even though the vote has happened, there was 95 00:06:22,800 --> 00:06:26,760 Speaker 1: an election, balance boxes were put out. The outcome is 96 00:06:26,800 --> 00:06:29,320 Speaker 1: pretty predictable there also. 97 00:06:29,440 --> 00:06:32,560 Speaker 3: And there's quite a crackdown on what's happening on the ground. 98 00:06:33,240 --> 00:06:37,080 Speaker 1: There's a security forces cracked out, but also interestingly there's 99 00:06:37,080 --> 00:06:40,359 Speaker 1: been a crackdown on the internet. And I think that 100 00:06:40,520 --> 00:06:45,760 Speaker 1: what you see cutting across Tanzania, Ivory Coast and Cameroon 101 00:06:45,839 --> 00:06:48,159 Speaker 1: and really across Africa is that you have a really 102 00:06:48,200 --> 00:06:53,440 Speaker 1: young population, and they're challenging the status quo in ways 103 00:06:53,480 --> 00:06:57,640 Speaker 1: that you know, these traditional systems aren't used to. There's 104 00:06:57,720 --> 00:07:01,600 Speaker 1: no central leader. They are able to mobilize each other 105 00:07:01,800 --> 00:07:08,279 Speaker 1: through social media, and that's making governments wary and so basically, 106 00:07:08,320 --> 00:07:11,760 Speaker 1: in the case of Tanzania, they literally shut off the Internet. 107 00:07:11,640 --> 00:07:14,680 Speaker 2: Wow, which, as we've seen, it's a powerful tool for 108 00:07:14,760 --> 00:07:19,320 Speaker 2: a number of organizers INCA. For this piece, I understand 109 00:07:19,360 --> 00:07:22,480 Speaker 2: you spoke to a political scientist who gave you his 110 00:07:22,640 --> 00:07:25,400 Speaker 2: own concerns about these no contest elections. 111 00:07:25,400 --> 00:07:26,240 Speaker 3: What did he say to you? 112 00:07:26,680 --> 00:07:29,040 Speaker 1: Yeah, So I did this piece with my colleague at 113 00:07:29,120 --> 00:07:32,200 Speaker 1: Cordonto who went to the University of Ghana and spoke 114 00:07:32,240 --> 00:07:36,480 Speaker 1: to a lecturer there, Kwame asa Asante, and so he 115 00:07:36,600 --> 00:07:39,400 Speaker 1: told him that, you know, this trend of blocking the 116 00:07:39,440 --> 00:07:43,840 Speaker 1: opposition to allow the comments to stain power is given 117 00:07:44,000 --> 00:07:48,280 Speaker 1: rise to democratic dictators where you kind of keep the 118 00:07:48,360 --> 00:07:52,000 Speaker 1: appearance of the democracy. You have the ballot boxes, you 119 00:07:52,080 --> 00:07:57,360 Speaker 1: have the constitutional courts, all the stuff that a democracy 120 00:07:57,400 --> 00:08:01,400 Speaker 1: should have, but actually there's no real choice. Citizens don't 121 00:08:01,440 --> 00:08:05,800 Speaker 1: get to pick who's going to rule over them, and 122 00:08:05,880 --> 00:08:11,840 Speaker 1: so that authoritarian drift is actually prompting military take overies 123 00:08:11,880 --> 00:08:15,720 Speaker 1: in many places, it's tempting the military to basically jump 124 00:08:15,760 --> 00:08:19,080 Speaker 1: in and say, hey, we're here and we can restore order. 125 00:08:19,760 --> 00:08:23,440 Speaker 1: The democracy's flawed, this corruption, and we can do better 126 00:08:23,480 --> 00:08:27,280 Speaker 1: than this so called democratic leaders. And so we've seen 127 00:08:27,320 --> 00:08:31,240 Speaker 1: that play out in the Sahel, especially where we'll actually 128 00:08:31,360 --> 00:08:36,000 Speaker 1: jumulated in the streets when soldiers took over. And so 129 00:08:36,920 --> 00:08:42,199 Speaker 1: that's what he's concerned about, that we're creating the conditions 130 00:08:42,240 --> 00:08:44,760 Speaker 1: for military takeovers to happen more broadly. 131 00:08:45,320 --> 00:08:47,920 Speaker 2: And we also saw that from Madagascar just a few 132 00:08:47,960 --> 00:08:48,520 Speaker 2: days ago. 133 00:08:49,120 --> 00:08:49,679 Speaker 1: Exactly. 134 00:08:50,200 --> 00:08:51,839 Speaker 3: Binka hold that thought. 135 00:08:51,880 --> 00:08:53,600 Speaker 2: When we come back from the break, well, look at 136 00:08:53,640 --> 00:08:57,079 Speaker 2: where in Africa is going against this trend and potentially 137 00:08:57,120 --> 00:08:59,800 Speaker 2: what we might be able to learn from some of those. 138 00:09:00,600 --> 00:09:08,320 Speaker 3: We'll be right back. Welcome back. Today. 139 00:09:08,360 --> 00:09:11,120 Speaker 2: We're looking at the recent run of so called no 140 00:09:11,400 --> 00:09:15,000 Speaker 2: contest elections in Africa and what they say about the 141 00:09:15,040 --> 00:09:19,640 Speaker 2: state of democracy on the continent. Senior reporter Yinka Ibukun 142 00:09:19,880 --> 00:09:23,760 Speaker 2: is still with me. Yinka, you use the example of 143 00:09:23,840 --> 00:09:27,520 Speaker 2: Senegal in your piece. For those who may not remember 144 00:09:28,160 --> 00:09:30,600 Speaker 2: last year, how did that unfold? 145 00:09:31,000 --> 00:09:35,640 Speaker 1: So? I mean Senego had its election last year and 146 00:09:35,840 --> 00:09:39,480 Speaker 1: Senegal is basically a bright light of hope in the 147 00:09:39,480 --> 00:09:44,120 Speaker 1: context that we find ourselves in today. Because in Senegal, 148 00:09:44,280 --> 00:09:48,880 Speaker 1: what happened was that President Makishal at the time was 149 00:09:48,920 --> 00:09:51,280 Speaker 1: basically looking like he was going to go for a 150 00:09:51,360 --> 00:09:54,760 Speaker 1: third term, which would have been at least by the text, 151 00:09:54,880 --> 00:09:59,360 Speaker 1: un constitutional, and so there were huge protests that broke 152 00:09:59,440 --> 00:10:02,960 Speaker 1: out across Senecal to prevent him from doing so, and 153 00:10:03,040 --> 00:10:06,520 Speaker 1: he eventually announced that he had no intention of running 154 00:10:06,559 --> 00:10:10,240 Speaker 1: at that term, and so it was really the people 155 00:10:10,480 --> 00:10:17,600 Speaker 1: who forced a president to basically honor the constitution there. 156 00:10:18,480 --> 00:10:21,319 Speaker 1: It's a really young country. We've said this for all 157 00:10:21,360 --> 00:10:26,080 Speaker 1: the countries we've mentioned so far, And what happened after 158 00:10:26,160 --> 00:10:29,240 Speaker 1: that was that it was really a generational shift. The 159 00:10:29,280 --> 00:10:33,400 Speaker 1: president that they ended up electing was forty four years 160 00:10:33,400 --> 00:10:36,200 Speaker 1: old at the time, the youngest president I think in 161 00:10:36,280 --> 00:10:40,400 Speaker 1: Africa elected, and so it was a generational shift that 162 00:10:40,520 --> 00:10:45,000 Speaker 1: happened there and a response to young people's demands. 163 00:10:45,520 --> 00:10:50,480 Speaker 2: Are we seeing similar instances of success elsewhere? 164 00:10:51,400 --> 00:10:54,440 Speaker 1: I mean, what we're seeing is youth pushed back. People 165 00:10:54,480 --> 00:10:59,640 Speaker 1: are organizing through social medias and other means, and their 166 00:10:59,679 --> 00:11:05,520 Speaker 1: demand better and in some cases it's toupled governments in Nepal, 167 00:11:05,760 --> 00:11:09,960 Speaker 1: in Bangladesh. In other cases, it's just made sure that 168 00:11:10,120 --> 00:11:14,880 Speaker 1: people's voices have been heard in Kenya, in Mozambique, in Morocco, 169 00:11:15,679 --> 00:11:19,319 Speaker 1: and so you're seeing young people more willing to mobilize 170 00:11:19,320 --> 00:11:24,400 Speaker 1: these countries and majority young people, and they are increasingly 171 00:11:24,520 --> 00:11:28,160 Speaker 1: have little to lose because often the growth that you're 172 00:11:28,200 --> 00:11:31,400 Speaker 1: seeing in these countries is not inclusive. It's not creating 173 00:11:31,520 --> 00:11:35,200 Speaker 1: enough jobs for them. And in the case of Madagascar, 174 00:11:35,280 --> 00:11:38,120 Speaker 1: for instance, they were asking for really basic things like 175 00:11:38,120 --> 00:11:41,720 Speaker 1: it started off with them just asking for water and electricity, 176 00:11:41,800 --> 00:11:44,360 Speaker 1: you know, and it ended up toppling a government and 177 00:11:44,559 --> 00:11:49,240 Speaker 1: bringing in a military leadership. So it's really about young 178 00:11:49,320 --> 00:11:51,719 Speaker 1: people mobilizing getting better at it. 179 00:11:52,080 --> 00:11:54,720 Speaker 2: Yeah, and it goes to show really what you know, 180 00:11:54,800 --> 00:11:58,240 Speaker 2: that these leaders can't ignore this. You know, you mentioned 181 00:11:58,280 --> 00:12:01,560 Speaker 2: Kenya and we saw changes after a lot of those 182 00:12:01,600 --> 00:12:06,560 Speaker 2: protests that unfortunately were deadly, but you know, the president 183 00:12:06,640 --> 00:12:09,880 Speaker 2: actually had to take notice of some of the changes 184 00:12:09,880 --> 00:12:12,920 Speaker 2: that they were calling for, which I think was really 185 00:12:12,960 --> 00:12:14,119 Speaker 2: notable to mention. 186 00:12:14,160 --> 00:12:15,360 Speaker 3: Yinka before we let you go. 187 00:12:16,080 --> 00:12:18,679 Speaker 2: It's also worth mentioning because you point out in your 188 00:12:18,679 --> 00:12:22,240 Speaker 2: piece it's not all necessarily doom and gloom when it 189 00:12:22,280 --> 00:12:26,160 Speaker 2: comes to transitions of power. There was Ghana, Malawi and 190 00:12:26,200 --> 00:12:30,200 Speaker 2: the Seychelles this year. What are you paying attention to 191 00:12:30,480 --> 00:12:32,719 Speaker 2: just to get a sense of maybe where things are 192 00:12:32,720 --> 00:12:33,400 Speaker 2: headed next. 193 00:12:34,080 --> 00:12:37,480 Speaker 1: I mean, you mentioned deadly protests and that's really sad 194 00:12:37,520 --> 00:12:40,120 Speaker 1: where people have to lose their lives to make a point, 195 00:12:40,200 --> 00:12:44,439 Speaker 1: you know, to have their voices heard. And so I'm 196 00:12:44,480 --> 00:12:49,080 Speaker 1: actually looking at these gen z movements of young people mobilizing, 197 00:12:49,200 --> 00:12:53,640 Speaker 1: but more so beyond that mobilization, like if it's able 198 00:12:54,040 --> 00:12:56,960 Speaker 1: to bring about real change. And I don't know how 199 00:12:57,040 --> 00:13:01,000 Speaker 1: much change it can actually bring when you still have constitutions, 200 00:13:01,600 --> 00:13:06,400 Speaker 1: when the courts uh compromised or the electrical commissions aren't 201 00:13:06,480 --> 00:13:09,800 Speaker 1: truly independent. You don't want to just have people put 202 00:13:09,800 --> 00:13:13,120 Speaker 1: their bodies on the line but then have your real change. 203 00:13:13,120 --> 00:13:16,360 Speaker 1: So I'm looking for real change and what that would 204 00:13:16,440 --> 00:13:19,920 Speaker 1: look like coast dis genity movement in each of these 205 00:13:19,960 --> 00:13:21,640 Speaker 1: countries and beyond. 206 00:13:22,160 --> 00:13:25,160 Speaker 2: Yinka, thank you so much for joining us as always 207 00:13:25,200 --> 00:13:28,400 Speaker 2: and for all of your reporting, and you can read 208 00:13:28,520 --> 00:13:33,839 Speaker 2: Yinka's reporting on Bloomberg platforms now, including our Next Africa newsletter. 209 00:13:36,440 --> 00:13:38,800 Speaker 2: Here's some of the other stories from the region we've 210 00:13:38,800 --> 00:13:43,480 Speaker 2: been following this week. South African President Zero Ramopouza said 211 00:13:43,640 --> 00:13:47,200 Speaker 2: negotiations for a trade deal with the US were ongoing 212 00:13:47,720 --> 00:13:52,920 Speaker 2: and voiced optimism for an agreement. Ramaposa stated that negotiations 213 00:13:53,000 --> 00:13:56,839 Speaker 2: with the US were now quote based on text, which 214 00:13:56,880 --> 00:14:00,800 Speaker 2: he characterized as progress towards getting an agreement nailed down. 215 00:14:01,520 --> 00:14:07,160 Speaker 2: And Namibia repaid it's seven hundred and fifty million dollar eurobond, 216 00:14:07,360 --> 00:14:11,480 Speaker 2: the largest single day debt maturity in the Southwest African 217 00:14:11,559 --> 00:14:16,920 Speaker 2: nation's history. According to the Finance minister, the redemption seeks 218 00:14:16,960 --> 00:14:21,320 Speaker 2: to enhance the country's credit worthiness and positions it favorably 219 00:14:21,560 --> 00:14:25,640 Speaker 2: for potential future engagements in the global capital markets if 220 00:14:25,760 --> 00:14:31,240 Speaker 2: circumstances warrant, and you can find these stories on Bloomberg platforms, 221 00:14:31,280 --> 00:14:34,520 Speaker 2: including the Next Africa Newsletter. Will put a link to 222 00:14:34,600 --> 00:14:40,160 Speaker 2: that in the show notes. This program was produced by 223 00:14:40,200 --> 00:14:43,760 Speaker 2: Adrian Bradley and tiwa Adebayo. Don't forget to follow and 224 00:14:43,840 --> 00:14:47,560 Speaker 2: review this show wherever you usually get your podcasts, But 225 00:14:47,720 --> 00:14:49,600 Speaker 2: for now, I'm Jennifer Zabasadra. 226 00:14:49,760 --> 00:14:51,200 Speaker 3: Thanks as always for listening.