The dynamism of African literature will be celebrated in Sharjah this year.
The inaugural Sharjah Festival of African Literature, being held from January 24 to 27 at University City of Sharjah district and organised by the Sharjah Book Authority, will host two Nobel laureates – Nigeria's Wole Soyinka and Tanzanian-British novelist Abdulrazak Gurnah – for discussions about their work and those from the continent.
Joining them is Kenyan author Mara Menzies and Nigeria's Wole Talabi, the latter best known for the science fiction novel Brass Head of Obalufon. Wendy Njoroge, co-founder of Kenyan publishing house Soma Nami Books and Nigerian literary advocate Ifeoma Esiri will also be in attendance.
The festival will also honour authors including Nigerian poet and performer Deborah Johnson, whose work is focused on sociopolitical issues of her homeland. The career of Kenya's Yvonne Owuor will also be highlighted for her rich and compelling historical novels.
The festival will feature musical performances from South African soprano Ann McKayzie, as well as Nigerian musicians Ade Bantu and Maryam Bukar Hassan. All sessions are open to the public, with timings to be revealed soon.
Highlights from the programme include three panel discussions exploring African literary traditions – from writing techniques to storytelling. Guinean author Cheryl Ntumy, Nigerian writer Wole Talabi and Zimbabwean author Tendai Huchu will come together for the session Much More Than Wakanda, which examines Africa’s influence on the global literary map.
Meanwhile, Nigerian authors Fatima Bala, Chika Unigwe and Nnamdi Ehirim will join Emirati writer Salha Obaid in Creating Timeless Characters, a discussion on crafting literary characters that embody both African and Middle Eastern cultures.
Youth and children can take part in a variety of workshops, including sessions on African jewellery-making, poetry and storytelling. Food enthusiasts can also look forward to engaging culinary sessions.
A more local perspective is currently the focus of Sharjah Literature Festival, ends tomorrow at the same venue, University City of Sharjah. Organised by the Emirates Publishers Association, it brings together authors and publishers to explore the growth of the Emirati publishing industry and literature
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Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
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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.”
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