The Sudanese armed forces said on Saturday its troops had entered Wad Medani, the capital of Al Gezira state south of Khartoum, more than a year after the paramilitary Rapid Support Forces captured the key city.
"The armed forces congratulate our gracious people on the entry of our forces this morning into Wad Medani. They are now clearing pockets of the rebels inside the city," a military statement said.
The capture of Wad Medani by the RSF in December 2023 was a major setback for Sudan's army in its war against the paramilitary, which has devastated the vast Afro-Arab nation.
The war that began in April 2023 has killed tens of thousands, displaced more than 10 million and created the world's worst humanitarian crisis, with about 26 million people – more than half the population – facing acute hunger.
Al Gezira state was home to about 500,000 people displaced by fighting, mostly from Khartoum, at the time Wad Medani was captured. Of these, an estimated 90,000 lived in Wad Medani.
The area was being used as a centre for relief efforts, but the fighting forced the UN humanitarian agency to suspend its work there.
Videos shared online showed troops and armed men in civilian clothes celebrating the capture of Wad Medani, which sits in a region that is considered Sudan's breadbasket. Some clips showed troops standing beside a tank and armoured vehicles as gunfire rang out in the background.
Hundreds of people took to the streets to celebrate in the Red Sea city of Port Sudan, home to the military-backed and internationally recognised government led by army chief Gen Abdel Fattah Al Burhan.
"This is Wad Medani, dear Wad Medani," a soldier said as he pointed to the Nile in one video.
The recapture of Wad Medani is the latest in a string of battlefield victories by the army, which has over recent months reversed its losses in the early days of the war. It has regained areas held by the RSF in the greater region of the capital Khartoum, notably in Omdurman and Bahri, as well areas to the south.
The RSF, however, continues to control most of the capital, including the international airport and the Nile-side presidential palace. It has captured most of the western Darfur region, birthplace of the RSF forerunner, the notorious Janjaweed militia, and parts of Kordofan in the south-west.
The war broke out after months of tension between the army and the RSF, led by Gen Mohamed Dagalo, over their future role in Sudan as it transitioned to democratic rule. It has since become a fight for supremacy between Gen Al Burhan and Gen Dagalo, his former ally.
Both men claim to be fighting for a democratic and inclusive Sudan, a country of some 50 million ethnically and religiously diverse people, but their forces are accused of committing war crimes, with the RSF singled out by foreign powers and the UN as the worse offender.
On Tuesday, US Secretary of State Antony Blinken said the RSF and allied militias have committed genocide in the war.
“The RSF and allied militias have systematically murdered men and boys – even infants – on an ethnic basis, and deliberately targeted women and girls from certain ethnic groups for rape and other forms of brutal sexual violence,” he said.
“Those same militias have targeted fleeing civilians, murdering innocent people escaping conflict, and prevented remaining civilians from accessing life-saving supplies. Based on this information, I have now concluded that members of the RSF and allied militias have committed genocide in Sudan.”
Al Shafie Ahmed reported from Kampala, Uganda.
The Gentlemen
Director: Guy Ritchie
Stars: Colin Farrell, Hugh Grant
Three out of five stars
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
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: One Good Thing
Founders: Bridgett Lau and Micheal Cooke
Based in: Dubai
Sector: e-commerce
Size: 5 employees
Stage: Looking for seed funding
Investors: Self-funded and seeking external investors
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP%204
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WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
THE DEALS
Hamilton $60m x 2 = $120m
Vettel $45m x 2 = $90m
Ricciardo $35m x 2 = $70m
Verstappen $55m x 3 = $165m
Leclerc $20m x 2 = $40m
TOTAL $485m