Tunisian President Kais Saied with President of Guinea Bissau Umaro Sissoco Embalo at the Carthage Palace in Tunis. AFP
Tunisian President Kais Saied with President of Guinea Bissau Umaro Sissoco Embalo at the Carthage Palace in Tunis. AFP
Tunisian President Kais Saied with President of Guinea Bissau Umaro Sissoco Embalo at the Carthage Palace in Tunis. AFP
Tunisian President Kais Saied with President of Guinea Bissau Umaro Sissoco Embalo at the Carthage Palace in Tunis. AFP

Tunisia's president says racism accusations ‘malicious and misleading’


Ghaya Ben Mbarek
  • English
  • Arabic

Tunisian President Kais Saied has again denied allegations of racism after saying sub-Saharan migrants threatened the country’s Arab identity during a meeting with Guinea Bissau President Umaro Sissoco Embalo saying that he has family members married to "Africans".

Such accusations are nothing but “malicious and misleading accounts” that aim to offend Tunisia and other African states, Mr Saied said during the press conference on Wednesday evening.

“What are they talking about?” he said. “I have many family members who are married to Africans.”

He also said that he had friends at university who were Africans as well as neighbours who used to work for the African Development Bank.

Mr Embalo appeared to offer Mr Saied support during the press conference, but reminded his Tunisian counterpart that he too was African.

“I cannot believe that you [Kais Saied] can be xenophobic or racist, you yourself are African,” Mr Embalo said.

Mr Embalo continued to say that “some people do not know geography and might need lessons", stressing that everyone is African regardless of which region they belong to in the African continent.

“Some people misinterpret statements and I have had that happen with me before as well.”

He also pointed out that Tunisia has been a hospitable country for Africans with many Sub-Saharan students receiving scholarships from the Tunisian state to pursue their undergraduate degrees in its universities.

The latest comments come after a meeting of the Tunisian National Security Council in late February in which Mr Saied called the sub-Saharan migrant community residing in his country “a form of occupation” and part of “a criminal plan to alter the demographic composition of Tunisia”.

His statements sparked a widespread backlash both domestically and abroad.

In the weeks since, police have detained hundreds of black people in Tunisia regardless of nationality.

Citizens and migrants alike have reported facing racially motivated violence with landlords evicting many from their homes and several others losing their jobs due to the crisis.

Some countries such as Ivory Coast, Mali and Guinea organised voluntary repatriation trips for their citizens.

However, many remain in precarious conditions with hundreds camping in front of embassies and the UN’s International Migration Organisation headquarters in Tunis.

The body called on Tunisia to uphold its international obligations towards migrants on Wednesday.

“We urge States, international actors, as well as the media to collectively counter harmful and negative rhetoric, hate speech and hate crimes,” the IOM said.

UN Secretary General Antonio Guterres expressed his shock at the dehumanising rhetoric targeting migrants everywhere.

“When I hear political leaders describing migrants in a way that doesn’t take into account their dignity and the fact that they are human beings, with human rights, is something that deeply shocks me... It shocks me in Tunisia, it shocks me in Europe, it shocks me everywhere.”

Despite the denials he has whipped up racist action against black people in his country, on Wednesday Mr Saeid indicated that he does not accept the phenomenon of human trafficking, which targets Africans in particular, whether in Tunisia or abroad.

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Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

The Cairo Statement

 1: Commit to countering all types of terrorism and extremism in all their manifestations

2: Denounce violence and the rhetoric of hatred

3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC  

4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.

5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.

6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security

Directed by: Craig Gillespie

Starring: Emma Stone, Emma Thompson, Joel Fry

4/5

Medicus AI

Started: 2016

Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh

Based: Vienna, Austria; started in Dubai

Sector: Health Tech

Staff: 119

Funding: €7.7 million (Dh31m)

 

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Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50

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.”

COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Updated: March 09, 2023, 1:48 PM