Helen Suzman with Nelson Mandela following his release from prison in 1990.
Helen Suzman with Nelson Mandela following his release from prison in 1990.

Lonely voice that South Africa misses



JOHANNESBURG // For 13 years Helen Suzman was a lonely voice in the all-white South African parliament, the only MP opposed to apartheid, and the sole representative of her Progressive Party. She dined alone every night in the legislature, ostracised not only for her beliefs but also her gender and her Jewish religion. But with her probing questions - she put down thousands over her 36-year career as the MP for the Johannesburg suburb of Houghton - principled opposition and quick wit she took a stand for those South Africans who fundamentally disagreed with their government and, as she put it, was a representative for the millions who did not have a voice.

"It is not my questions that embarrass South Africa, but your answers," she once told a Nationalist minister infuriated by her defiance, which saw other PP MPs joining her in the legislature over the years. Hendrik Verwoerd, the architect of apartheid, once told her: "I have written you off," to which she replied: "The whole world has written you off." And she once decried the acquiescence of the then United Party opposition in the system, saying: "How often have I sat in parliament and watched a shiver go up and down these green benches looking for a spine to crawl up."

She died on New Year's Day this year at the age of 91, having lived long enough to see South Africa transform itself into a multiracial democracy and Nelson Mandela, whom she frequently visited in prison, become president. Despite some criticisms that by participating in the mechanisms of the regime she in some way legitimised it, her place in the pantheon of anti-apartheid actors is assured and was demonstrated by the line-up of speakers at a commemoration of her life in Johannesburg last weekend, among them some of the most prominent of South Africa's liberals.

But the loudest cheers were reserved for those who lamented the contrast between her own courage and willingness to defy the status quo, and the decline of parliamentary opposition under the ANC government. Dikgang Moseneke, once a political prisoner on Robben Island and now a Constitutional Court judge, said she had served as an example to black South Africans, that defiance was possible. "She was the only one who dared to demur publicly," he said.

"Once she decided apartheid was wrong it had to be opposed by every fibre of her tiny frame," said Archbishop Desmond Tutu, the Nobel laureate. That battle was eventually won, but in its 15 years in government the ruling African National Congress has become tarnished, seemingly corrupted by its own power, with constant allegations of wrongdoing at all levels. Archbishop Tutu, who represents the country's moral conscience, said last year he would not be voting for the ANC.

The general election is being held next month with Jacob Zuma, the ANC's populist presidential candidate, facing multiple charges of fraud and corruption, and without naming the organisation, Archbishop Tutu made clear his disapproval. "Our freedom has been won through the endeavours of all races," he said. "If we are the so-called rainbow nation with diverse elements, that nation owes its existence to the efforts of a remarkably diverse group of human beings of all sizes, shapes and races. No one group can lay claim to hegemony merely by virtue of its ethnicity.

"We must have zero tolerance for corruption, for those who have a proclivity to put their hands in the till. We want those holding public office, our representatives, to be principled persons who we can be proud to look up to, not embarrassments that need to be defended." Dissent is barely tolerated within the ANC, partly because of its past as a revolutionary movement, and doubly so in parliament, where South Africa's proportional representation system means that MPs' futures are dependent on their position on the party list, which is controlled by the hierarchy.

Nicky Oppenheimer, the chairman of the De Beers diamond mining group, told the audience at the University of the Witwatersrand, where Suzman was a student herself: "We needed that voice then, the voice that is unafraid to speak to power, and we need it even today." Recalling an occasion when an army officer told Suzman's nephew, then doing military service, not to tell her anything, Ann Bernstein, of the Centre for Development and Enterprise, said: "If only our present current MPs engendered such fear of exposure in today's officials."

And Mamphela Ramphele, a former anti-apartheid activist who went on to be vice chancellor of the University of Cape Town, asked why South Africans were so tolerant of abuses "for the benefit of party political interests". "Why are we silent in the face of a culture of impunity in our public service? Why are the majority of our MPs unwilling to think independently for themselves when all they stand to lose are their privileges?" she asked.

"Our freedom as a democracy is at great risk for the first time in our 15 years as a democracy. The best memorial we can build for Helen Suzman is to follow her example and strive to protect, defend and promote the foundations of our democracy." sberger@thenational.ae

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The Killer

Director: David Fincher

Stars: Michael Fassbender, Tilda Swinton, Charles Parnell

Rating: 4/5 

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

COMPANY PROFILE

Company: Mascotte Health

Started: 2023

Based: Miami, US

Founder: Bora Hamamcioglu

Sector: Online veterinary service provider

Investment stage: $1.2 million raised in seed funding

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

Imperial Island: A History of Empire in Modern Britain

Author: Charlotte Lydia Riley
Publisher: Bodley Head
Pages: 384

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

UAE currency: the story behind the money in your pockets
COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Getting there

Etihad Airways flies daily to the Maldives from Abu Dhabi. The journey takes four hours and return fares start from Dh3,995. Opt for the 3am flight and you’ll land at 6am, giving you the entire day to adjust to island time.  

Round trip speedboat transfers to the resort are bookable via Anantara and cost $265 per person.  

Dengue fever symptoms

High fever (40°C/104°F)
Severe headache
Pain behind the eyes
Muscle and joint pains
Nausea
Vomiting
Swollen glands
Rash

In Praise of Zayed

A thousand grains of Sand whirl in the sky
To mark the journey of one passer-by
If then a Cavalcade disturbs the scene,
Shall such grains sing before they start to fly?

What man of Honour, and to Honour bred
Will fear to go wherever Truth has led?
For though a Thousand urge him to retreat
He'll laugh, until such counsellors have fled.

Stands always One, defiant and alone
Against the Many, when all Hope has flown.
Then comes the Test; and only then the time
Of reckoning what each can call his own.

History will not forget: that one small Seed
Sufficed to tip the Scales in time of need.
More than a debt, the Emirates owe to Zayed
Their very Souls, from outside influence freed.
No praise from Roderic can increase his Fame.
Steadfastness was the Essence of his name.
The changing years grow Gardens in the Sand
And build new Roads to Sand which stays the same.
But Hearts are not rebuilt, nor Seed resown.
What was, remains, essentially Alone.
Until the Golden Messenger, all-wise,
Calls out: "Come now, my Friend!" - and All is known

- Roderic Fenwick Owen

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

The essentials

What: Emirates Airline Festival of Literature

When: Friday until March 9

Where: All main sessions are held in the InterContinental Dubai Festival City

Price: Sessions range from free entry to Dh125 tickets, with the exception of special events.

Hot Tip: If waiting for your book to be signed looks like it will be timeconsuming, ask the festival’s bookstore if they have pre-signed copies of the book you’re looking for. They should have a bunch from some of the festival’s biggest guest authors.

Information: www.emirateslitfest.com
 

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450+ employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

Three ways to boost your credit score

Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:

1. Make sure you make your payments on time;

2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;

3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.

What is cystic fibrosis?
  • Cystic fibrosis is a genetic disorder that affects the lungs, pancreas and other organs.
  • It causes the production of thick, sticky mucus that can clog the airways and lead to severe respiratory and digestive problems.
  • Patients with the condition are prone to lung infections and often suffer from chronic coughing, wheezing and shortness of breath.
  • Life expectancy for sufferers of cystic fibrosis is now around 50 years.
Champions League Last 16

Red Bull Salzburg+(AUT) v Bayern Munich+(GER)

Sporting Lisbon+(POR) v Manchester City+(ENG)

Benfica+(POR) v Ajax+(NED)

Chelsea+(ENG) v Lille+(FRA)

Atletico Madrid+(ESP) v Manchester United+(ENG)

Villarreal+(ESP) v Juventus+(ITA)

Inter Milan+(ITA) v Liverpool+(ENG)

Paris Saint-Germain v Real Madrid+(ESP)

RESULTS

9pm: Maiden (PA) Dh70,000 (Dirt) 2,000m
Winner: Mubhir Al Ain, Antonio Fresu (jockey), Ahmed Al Mehairbi (trainer)
9.30pm: Handicap (TB) Dh70,000 (D) 2,000m
Winner: Exciting Days, Oscar Chavez, Doug Watson
10pm: Al Ain Cup – Prestige (PA) Dh100,000 (D) 2,000m
Winner: Suny Du Loup, Marcelino Rodrigues, Hamad Al Marar
10.30pm: Maiden (PA) Dh70,000 (D) 1,800m
Winner: Jafar Des Arnets, Oscar Chavez, Ahmed Al Mehairbi
11pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (D) 1,600m
Winner: Taj Al Izz, Richard Mullen, Ibrahim Al Hadhrami
11.30pm: Maiden (PA) Dh70,000 (D) 1,400m
Winner: Majdy, Antonio Fresu, Jean de Roualle
12am: Maiden (PA) Dh70,000 (D) 1,400m
Winner: Hamloola, Sam Hitchcott, Salem Al Ketbi

MATCH INFO

Fixture: Ukraine v Portugal, Monday, 10.45pm (UAE)

TV: BeIN Sports

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

THE BIO

Favourite author - Paulo Coelho 

Favourite holiday destination - Cuba 

New York Times or Jordan Times? NYT is a school and JT was my practice field

Role model - My Grandfather 

Dream interviewee - Che Guevara

PSL FINAL

Multan Sultans v Peshawar Zalmi
8pm, Thursday
Zayed Cricket Stadium, Abu Dhabi

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

STAR WARS JEDI: SURVIVOR

Developer: Respawn Entertainment
Publisher: Electronic Arts
Consoles: PC, Playstation 5, Xbox Series X and S
Rating: 4/5

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

How will Gen Alpha invest?

Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.

“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.

Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.

He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.

Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital