If the US actress and comedian Tiffany Haddish ever visits Abu Dhabi, I am going to ask her out for dinner – not in the hope of having some romantic connection with her or envisaging a slap-up, celebrity-inspired feast, but as a thank you to her for putting our home in north-eastern Africa on the map.
I always felt Eritrea deserved its own Bambi moment, and by that I mean an event of cultural relevance that would permanently change perceptions.
Before Bambi, people often thought of the agile deer as a somewhat aloof creature. But following the success of the 1942 animated film and its subsequent legacy, giving a deer a mean sideways glance is akin to scowling at a baby.
Haddish’s star appeal, combined with her arrival at this week’s Oscars in regal traditional Eritrean clothing as a tribute to her father’s heritage, has prompted people to start researching the country, which is just as well, because I am done with explaining it.
Not a week has gone by in the past seven years that I haven't been quizzed on my heritage, and because Eritrea is off the beaten track, it has never been a swift exchange, often mushrooming into a lesson on geography and socio-politics. That's if we even get past the pronunciation. For some reason – perhaps it was a bureaucratic error that stuck – whenever I have travelled throughout the region during my seven-year stint here, Eritrea has always been mispronounced. From Beirut to Casablanca, it has been given an extra syllable and called "Eri-te-ri-ya".
READ MORE: A guide to Tiffany Haddish's Eritrean dress
Once that’s promptly corrected, it’s on to the location game. Depending on how much time I have, I provide the short version – “it’s on the coast of Ethiopia” – or if my inquisitor is helplessly marooned, then I will paint them a mental picture starting with the Horn of Africa, before zeroing in on the country.
I recall one evening while having dinner with friends at Al Wahda Mall, I had to use utensils – the fork was Ethiopia, the knife Eritrea and a couple of stained tea cups were made into Somalia and Sudan.
As a child migrant in Australia in the early 1990s, my personal knowledge of my mother country was scant at best – all I knew was the place was in ruins because of war and they probably had no decent television shows for kids.
So I did what kids do when bereft of ideas – I bent the truth. Because I wasn't in the same school every four years when the World Cup rolled around, my nationality depended on which team was performing well in the football at the time. My friends at Kensington Primary School in 1990 thought I was from Cameroon (I even gracefully accepted their congratulations for "us" beating Argentina), while to those at Therry College, I was that dude from Nigeria.
With the advent of the internet and Google Maps, the gig was up by 2000 and I had to go on my endless explanation campaign once more. All of this would have been easier, if our cuisine hadn't become so popular.
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Now that we are in the midst of the "Haddish Effect", here is hoping her rising stardom will land her a role in the sequel to Black Panther, then we can stop all that explaining and perhaps get a few children to tell their fellow students they are also Eritrean.
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.”
MATCH INFO
RB Leipzig 2 (Klostermann 24', Schick 68')
Hertha Berlin 2 (Grujic 9', Piatek 82' pen)
Man of the match Matheus Cunha (Hertha Berlin
Points tally
1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3
Need to know
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
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