Join Sygnia in the fight against corruption
Sygnia leads the corporate charge to fight corruption
We are living in turbulent times in South Africa where politics and economics have converged. We are witnessing an epic battle in our country between all that is good, moral and decent, and all that represents greed, corruption and economic destruction.
It is not simply an internal battle within the ANC. The truth is that agreement on what constitutes sound economics is not what divides political parties, nor the citizens of South Africa. What is happening transcends the politics of any one party. It is a battle for the soul and the future of South Africa. Do we survive as a democracy or descend into an autocratic kleptocracy?
The costs of the battle are astronomical and mounting: economic recession, credit rating downgrades, retrenchments, a volatile currency, the inability of state-owned enterprises and the government to raise adequate funding and higher interest costs on the funding they do secure, the inevitable raiding of the Public Investment Corporation’s coffers – all that takes money away from the poor, from pensioners, from all taxpayers. It diverts money from infrastructure projects and education, condemning yet another generation of young South Africans to poverty.
While the battle rages, most South Africans feel hopeless, which translates easily into complacency and pessimism. Yet we are far from hopeless and we should never become complacent.
South Africa cannot thrive while the culture of greed and entitlement prevails. Let your savings make a difference
In the fight, as prosecuting authorities abdicate their responsibilities, our court system has become the only effective enforcer of the Constitution. It recently threw out the costly nuclear deal and protected the poor in the debacle around the South African Social Security Agency and CPS. It is demanding an explanation from President Jacob Zuma for the reshuffle at the national Treasury that led to our junk-status credit rating and recession. It may in September even hold him to account on 783 corruption charges. Most importantly, it has given our parliamentarians the moral courage to do the right thing and recapture the South African Broadcasting Corporation and, now, Eskom.
The fights in our courtrooms are led mostly by civil society organisations and investigative journalists. They are fighting on behalf of South Africa’s 55-million people. They are fighting for us. Hence they need both our moral and financial support. You can obviously donate money directly. However, in addition, and as a corporate citizen, Sygnia has created an easy mechanism for you to do something meaningful with minimal effort.
Sygnia has launched the Sygnia Money Market Unit Trust with 100% of the management fees donated to civil society organisations fighting corruption.
Money-market unit trusts are as close to a “cash” investment as the asset management industry has to offer.
Here is how it works:
- You can invest as little as a one-off amount of R1,000, or a regular R500 per month, in the Sygnia Money Market Unit Trust. To be clear, this is an investment, not a donation, and you can withdraw your money at any stage.
- Sygnia charges a management fee of either 0.5% per year or 1% per year to manage the unit trust – you choose what you want to pay.
- Sygnia will donate that entire management fee to the following organisations: the Organisation Undoing Tax Abuse, the Black Sash, Corruption Watch, the Helen Suzman Foundation, the Council for the Advancement of the South African Constitution, the Kgalema Motlanthe Foundation and the Ahmed Kathrada Foundation.
- Application forms are available at www.sygnia.co.za.
- Your investment will be completely confidential. The names of the investors will not be released in any public forum.
So, if you invest R1,000 at the 0.5% per year level, we will charge you a management fee of R5 every year and donate that entire fee to the fight against corruption. Is R5 meaningful? Yes. If we raise just R200-million in total investments, that will translate into R1-million in donations.
More than R300-billion is invested in money-market unit trusts across South Africa already, all earning similar returns. Let’s put those investments to better use!
Hence, rather than leaving your spare cash in a bank account, invest it in a money-market unit trust with a social purpose and you will make an enormous contribution to saving South Africa. The investment is not limited to individuals – retirement funds and corporates are encouraged to make an allocation.
We need your help in spreading this message far and wide. Every R1,000 matters.
Corruption is eating away at the moral fabric of our society. Whether it is the government or the private sector, the message is the same: South Africa cannot thrive while the culture of greed and entitlement prevails. Let your savings make a difference.
This article was paid for by Sygnia Asset Management.