Morocco cruise past Canada to make World Cup last 16 for first time since 1986

Morocco powered into the last 16 of the World Cup for the first time in 36 years with an impressive 2-1 victory over eliminated Canada on Thursday.

Goals from Hakim Ziyech and Youssef En-Nesyri ensured the North Africans finished top of Group F ahead of 2018 World Cup runners-up Croatia and sparked wild celebrations among their fans.

The Atlas Lions, who last reached the knockout stages of the World Cup in 1986, put themselves firmly on course for the second round after upsetting Belgium 2-0 on Sunday, a result that left them needing only a point against Canada on Thursday to be sure of advancing.

Achieving that objective never looked in doubt after they grabbed the lead after only four minutes in front of 43,102 fans at the Al Thumama Stadium.

Canada captain and goalkeeper Milan Borjan raced off his line to clear an underhit backpass from Steven Vitoria, but could only watch in horror as the ball fell to Ziyech.

The Chelsea star seized the opportunity ruthlessly, coolly lifting a finish over the stranded Borjan into the empty net.

That early setback winded Canada, who struggled to gain any sort of a foothold against a rampant Morocco, who were soon 2-0 up.

Right-back Achraf Hakimi's long ball caught the Canadian defence napping and En-Nesyri darted in behind before smashing home a finish at the near post to beat Borjan.

Canada pulled a goal back on a rare foray forward five minutes from half-time when defender Sam Adekugbe skipped clear down the left and rifled in a low cross.

Defender Nayef Aguerd stuck a leg out and the ball deflected into the net past Morocco goalkeeper Yassine Bounou.

Morocco thought they had restored their two-goal cushion in first-half stoppage time when En-Nesyri lashed home eight yards out only for the effort to be deemed offside.

Canada started the second half brightly, with Alphonso Davies jabbing a shot just wide after a promising attack.

But Morocco dropped deeper and Canada lacked the inventiveness to seriously threaten.

Their best chance of drawing level came from a set piece on 71 minutes, when substitute Atiba Hutchinson's header from a corner crashed off the underside of the crossbar and bounced off the goal-line.

Full-back Alistair Johnston failed to control the rebound and Morocco's lead remained intact.

Canada captain Borjan almost got caught out again in another risky advance in injury time, but Davies was on hand to snuff out the danger before Morocco's raucous fans erupted in celebration at the whistle.

Abdul Jabar Qahraman was meeting supporters in his campaign office in the southern Afghan province of Helmand when a bomb hidden under a sofa exploded on Wednesday.

The blast in the provincial capital Lashkar Gah killed the Afghan election candidate and at least another three people, Interior Minister Wais Ahmad Barmak told reporters. Another three were wounded, while three suspects were detained, he said.

The Taliban – which controls much of Helmand and has vowed to disrupt the October 20 parliamentary elections – claimed responsibility for the attack.

Mr Qahraman was at least the 10^th candidate killed so far during the campaign season, and the second from Lashkar Gah this month. Another candidate, Saleh Mohammad Asikzai, was among eight people killed in a suicide attack last week. Most of the slain candidates were murdered in targeted assassinations, including Avtar Singh Khalsa, the first Afghan Sikh to run for the lower house of the parliament.

The same week the Taliban warned candidates to withdraw from the elections. On Wednesday the group issued fresh warnings, calling on educational workers to stop schools from being used as polling centres.

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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.”

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

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