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Mail & Guardian
3 hours ago
- Politics
- Mail & Guardian
Just whose dialogue is it? South Africa's ‘citizen-led' convention fails its own test
Graphic: John McCann/M&G President Cyril Ramaphosa opened the National Dialogue at Unisa this past weekend with the promise that it belongs to 'all South Africans', asserting that 'no voice is too small and no perspective too inconvenient to be heard'. The convention, held under the banner ' Uniting Voices, Shaping the Nation ,' brought together more than 1000 delegates from about 200 organisations. But beneath this image of inclusivity lies a difficult truth: this process is not citizen-led in practice, and its planning, structure and execution reflect a top-down, state-managed initiative that is more performative than participatory. While the idea of a nationwide dialogue is commendable — especially given the deep crises South Africa faces — the launch at Unisa revealed a disconnect between the democratic ideals being invoked and the opaque mechanisms underpinning the process. The From the onset, the process has been coordinated by an inter-ministerial committee and an eminent persons group, none of whom were publicly nominated or confirmed through open civil processes. Even the composition of the steering committee, a supposedly 'broad-based' body mandated to guide the next phases of the dialogue, was not informed by transparent consultations. Instead, it was deliberated during invitation-only sectoral sessions at the end of the first convention. If this was a citizen-led process, what participatory frameworks were employed? What tools were used to ensure representation of South Africa's demographic and geographic diversity? Where are the independent observers or facilitators to verify this dialogue's legitimacy? One cannot call a process people-centred while bypassing the people in its design. Much of the framing mimics the rhetoric of grassroots mobilisation, with the dialogue promising thousands of ward-level conversations and submissions through a Despite a price tag of The dialogue takes place in a fractured political moment. The What many participants and observers have noted — both in If this is truly a moment for a national reset, then the dialogue must demonstrate it is capable of redistributing power, not only opinion. That means embracing independent community facilitation, co-creating metrics for inclusion, publishing detailed minutes of all sessions and allowing citizens — not technocrats — to define what matters. The old frameworks of centralised planning, symbolic inclusion and post-hoc validation cannot fix a democracy that is haemorrhaging trust. This convention should have begun with a presentation on the methodology used to select voices in the room, the feedback loops planned for tracking citizen input and the criteria for inclusion at every level of the process. Instead, we got speeches about shared futures from the same actors who dominated the past. Even the public-facing narrative implies the dialogue will culminate in another 'people's compact', but there is little detail on how it will be validated by the people themselves. If speech without substance is just noise, then consultation without transparency is political theatre. South Africa deserves better. The dialogue can still live up to its potential — but only if it turns away from state-orchestrated mobilisation and toward genuine democratic renewal. Otherwise, the phrase 'citizen-led' becomes just another slogan. And we've heard enough of those. To avoid this, the next phase must reframe how legitimacy is built — from process to participation. Rather than defending the structures already put in place, the government must now invite an independent, community-led audit of the convention's first phase. Facilitators for future sessions should be chosen from grassroots civic organisations with no ties to the state. Each provincial leg of the dialogue must publish weekly updates on whose voices are being included, how inputs are being tracked and what's being left behind. This is the only way to demonstrate that this is not another elite negotiation exercise in disguise, but a sincere attempt to devolve democratic power to the very citizens whose future is at stake. Anything less, and we will have squandered an opportunity under the banner of progress. Dr Lesedi Senamele Matlala is a governance scholar and lecturer at the School of Public Management Governance and Public Policy, University of Johannesburg, focusing on public policy, citizen engagement and evaluation.
CNA
30-06-2025
- Business
- CNA
Japan's Dai-ichi Life could double investment target to at least $4 billion
TOKYO :Japan's Dai-ichi Life could double its strategic investment target to at least 600 billion yen ($4.17 billion) in its next medium-term management plan, the life insurer's CEO said, as the company looks to expand internationally. Dai-ichi expects to accelerate its overseas investments after it acquired 15 per cent of UK insurer and asset manager M&G for around 160 billion yen in May, CEO Tetsuya Kikuta told Reuters in an interview. The firm joins a host of Japanese financial institutions spending big on overseas acquisitions in search of growth as Japan's domestic market shrinks. British firm Legal & General announced a tie-up with Meiji Yasuda in February, while Deutsche Bank's investment arm DWS is in talks to form a joint venture with Japan's largest insurer Nippon Life in India, Reuters reported in May. Dai-ichi's current medium-term strategy, which runs for three years until March 2027, had targeted 300 billion yen for strategic investment. Besides the M&G stake, the company has also invested around 100 billion yen in Australian finance group Challenger and upped its stake in UK hedge fund Capula Investment Management. Dai-ichi's next strategy period is yet to be finalised but may run for four years, Kikuta said. ($1 = 143.9800 yen)
Yahoo
07-06-2025
- Business
- Yahoo
These 5 shares could generate a £1,584 annual passive income from a £20k lump sum
Putting some spare money to work in the stock market can be a simple way to set up passive income streams. That can be quite lucrative. As an example, if an investor had a spare £20,000 to invest (whether or not through a Stocks and Shares ISA) they could spread it evenly across the five shares below that currently yield an average 7.9%. That ought to earn around £1,584 in passive income each year, if the dividends are maintained at their current level. That is never guaranteed: dividends can fall, but can also grow. To start with are a couple of FTSE 100 shares in the financial services business, both offering a high yield. Asset manager M&G yields 8.2% at the moment. It has a large base of both retail and institutional clients, a strong brand, and a proven business model. A recently announced tie-up with a large Japanese firm could help boost revenues. One risk I see is a turbulent stock market leading policyholders to withdraw funds, hurting profits. Whereas M&G is a well-known name for many British people, the same may not be true of Phoenix Group (LSE: PHNX). But the company is a discreet giant, with around 12m customers and a variety of well-known brands. It aims to grow its dividend per share annually and currently yields 8.3%. I like its proven cash generation potential and critical mass, though if the housing market falls badly I see a risk that its mortgage book value could fall sharply. Another share to consider is 6.8%-yielding cigarette maker British American Tobacco (LSE: BATS). The owner of premium brands including Lucky Strike has a highly profitable business that has helped it raise its dividend per share annually for decades. Whether that can continue depends in part on whether declining cigarette sales lead to lower earnings for British American. I own shares in polymer manufacturer VIctrex (LSE: VCT), which currently offers investors a 7.6% yield. I see it as a share passive income hunters ought to consider. That yield partly reflects a weaker share price than before, as Victrex has fallen 62% in five years. Profitability has been inconsistent and I see a risk that weaker demand in key markets could keep eating into earnings. Clearly, the City has its doubts about Victrex compared to a few years back. But first-half sales volumes grew 16% year on year, pre-tax profit soared to £17m and the company maintained its interim dividend. Its focus on high-performance applications like automotive and aerospace components gives Victrex pricing power and I see its proprietary polymer technology as a powerful competitive advantage. The fifth share to consider is also one I own: Income and Growth Venture Capital Trust. The investment trust has an 8.7% yield. It has typically aimed to pay at least a 6p per share annual dividend, which would mean an 8.7% yield in future too at the current share price. It funds that by investing in small or medium companies it hopes can grow. Weak consumer demand has hurt the valuation of some of its investments. I see a risk that will continue. However, I think owning a stake in Income & Growth could hopefully still generate a long-term passive income stream for me. The post These 5 shares could generate a £1,584 annual passive income from a £20k lump sum appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool C Ruane has positions in Income & Growth Vct Plc and Victrex Plc. The Motley Fool UK has recommended British American Tobacco P.l.c., M&g Plc, and Victrex Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
Japan Times
30-05-2025
- Business
- Japan Times
Dai-ichi Life to buy $1.1 billion M&G stake in partnership
Dai-ichi Life Holdings and M&G have struck a distribution partnership that will see the Japanese firm take a roughly $1.1 billion stake in the U.K. money manager. Japan's largest listed life insurer plans to buy about a 15% stake via on-market purchases, according to a statement on Friday. The stake would make Dai-ichi Life the largest shareholder of M&G, according to data compiled by Bloomberg. Shares in M&G rose as much as 8.6% in early London trading, its biggest intraday gain since February 2023.
Reuters
30-05-2025
- Business
- Reuters
STOXX 600 edges down on US trade uncertainties; set for monthly gains
May 30 (Reuters) - European shares dipped on Friday as caution prevailed after a U.S. court reinstated President Donald Trump's tariffs, even as the benchmark index neared a robust monthly gain. The continent-wide STOXX 600 index (.STOXX), opens new tab was down 0.1%, as of 0711 GMT, pressured by a temporary reinstatement of the most sweeping of Trump's tariffs a day after another court ordered an immediate block on them. However, the benchmark index was set for its first monthly advance in three, up 3.8% so far, capitalising on easing trade tensions and the recent U.S. fiscal concerns that forced investors to move away from American assets. On Friday, data showed German retail sales fell by 1.1% in April compared with the previous month. Investors also looked ahead to Germany's May inflation figures, to be released later in the day, that could offer more clues about the European Central Bank's policy decision next week. Among sectors, basic resources (.SXPP), opens new tab was the biggest drag and fell 0.9%, dragged by lower copper prices. The real estate (.SX86P), opens new tab supported the main index by rising 0.8%. M&G (MNG.L), opens new tab jumped 8.2% after it said Japanese life insurer Dai-Ichi Life Holdings (8750.T), opens new tab will take a 15% stake in the British insurer and asset manager as part of a strategic deal.
