Look
Source: World Migration
In 2020 the World Migration Report showed that 281 million people migrated from their birth countries. Most were displaced due to climate change and political uncertainty.
The UN International Organisation for Migration estimate that as many as 1 billion people will migrate for the same reason in the next 30 years. Thereafter, numbers are expected to soar higher as we reach the height of the global climate crisis.
Unfortunately, migrants are often treated with hostility and discontent, which leads to violence and death. It also leads to a perception that migration is problematic. But is it? British Science Journalist, Gaia Vince challenges this thinking in her month's podcast. She goes even further and suggests that migration is a viable solution for tackling climate change and sustainability.
The idea that we belong to a certain country, and it belongs to us is at odds with man’s history, where for thousands of years people roamed the planet freely. Our identity that is attached to borders, flags and countries is a recent phenomenon.
Migration, however, is not. And more than ever, it will reshape the world, particularly because of the impact it has on what a sustainable world will look like. Because we are going to have to find ways to feed, fuel, and maintain lifestyles whilst keeping carbon levels in check.
Vince presents an interesting argument and challenges us to reshape the way we think about migration and sustainability. For those that what to dive deeper, Gaia also wrote a book on this topic.
Listen
When I ask someone how they are doing, 8 out of 10 times they respond with “I’m really busy”. I’m curious as to why we respond like this. Do we think it’s a sign of success? Is it just that time of year? Is it a Joburg thing? I’m not sure what the reason is, but it seems we are masters at distracting ourselves. Be it work, our phones, our children, we fill our days to the brim, and by doing so we close ourselves off to having fun and living life with more intention.
In this TED talk, science journalist Catherine Price suggests we prioritise FUN as it’s the key to living a fuller, happier, and even healthier life.
Fun is not frivolous and is not only reserved for kids. It is something much deeper. You might reflect on this and ask yourself when was the last time you had fun?
Price believes that although fun might be different for everyone, it always shares the following basic elements:
- An element of playfulness. A light-hearted attitude towards something. Letting go of perfectionism.
- An element of connection to someone or something.
- An element of flow. Flow happens when you are so focussed on something you forget about time.
She also shares easy and practical ways we can incorporate fun into our daily lives. Most importantly, we need to remove distractions and we need to prioritise it. As Price says, we need to treat fun as though it’s important, because it is.
Can we restore balance and reduce anxiety around our daily busyness by making time for fun?
Learn
A recent report by Intellidex, showed that there is an 85% probability that South Africa will be grey-listed by the Financial Action Task Force (FATF). FATF is an international body that sets standards and promotes the effective implementation of legal and operational measures for combating money laundering, terrorist financing, and proliferating financing of weapons of mass destruction.
What is grey-listing?
It basically means that a country has been identified as having issues with complying and enforcing the required FATF measures.
What will the implications be?
- It’s likely that there will be an economic impact due to higher transaction costs for cross-border payments and reputational damage.
- Expect enhanced due diligence when working with international financial institutions.
- An increased compliance burden on financial institutions may see firms elect not to do business with a South African company or individual due to compliance risks.
FATF set 12 “priority actions” for South Africa to address the deficiencies and we need to show significant progress in all areas to avoid grey-listing. Unfortunately, 3 of these action points are especially problematic and unlikely to be solved in the short term.
- Supervision of designated non-financial businesses and professions such as estate agents, Krugerrand dealers, and lawyers.
- Allowing the Masters’ offices to access information about beneficial owners of companies and beneficiaries of trusts.
- The Hawks need to make significant progress in prosecutions, arrests, and asset forfeiture related to state capture.
It’s unlikely that we will avoid grey-listing. As we don’t yet know the full impact of this news, patience is required whilst we navigate this new world. It is likely to impact our clients when working with global investment platforms. We are working with all our international partners to find solutions and support our clients as best we can.
There is currently no action needed from South African investors. There should not be any impact on the access to existing offshore funds.
Oenophilia
“Oenophilia is a love of wine. In the strictest sense, oenophilia describes a disciplined devotion to wine, accompanying strict traditions of consumption and appreciation. In a general sense, however, oenophilia simply refers to the enjoyment of wine, often by laymen.”
I used to be a long-distance runner at school. Even though it’s an individual sport, I fondly think back to memories of inter-school events, with the entire school chanting and cheering “hou bene, hou!”. I never felt alone on the track.
It feels like this time of year we are all running out of steam, and possibly some “hou bene, hou!” chanting is required from the side to get to the end of the year. This is the wine I drink and buy the most. A staple in our home and my “hou bene, hou!” wine of the month. Allheit Vineyard’s Cartology is a blend of Chenin blanc (90%) and Semillon (10%). Detailed and textured with well-integrated acidity. Notes of pear and herbs
I hope you enjoyed this month’s edition.
Stay curious.
Elke Zeki