Sudan’s army chief Gen Abdel Fattah Al Burhan has appointed Kamil Idris, a former UN official and prominent diplomat, as the new Prime Minister of the country’s military-dominated government.
Mr Idris will be the first prime minister in Sudan since the resignation of Abdalla Hamdok in the wake of a military coup in October 2021, which ousted the civilian-led government and derailed the nation’s transition to democracy.
The appointment follows significant battlefield gains by the Sudanese army this year, including retaking the capital city Khartoum from the paramilitary Rapid Support Forces in March.
The RSF, which teamed up with the army in the 2021 coup, turned against its former ally in April 2023, sparking a devastating war in which thousands have been killed and millions displaced.
Mr Idris, a respected figure in international circles, comes from the Nubian community in northern Sudan. He has an extensive academic and professional background, describing himself on social media as a "statesman, scholar and international civil servant".
He served as director general of the World Intellectual Property Organisation, a UN agency, from 1997 to 2008. His term ended a year early when he resigned over claims he signed documents with a false date of birth. In 2010, he ran as an independent candidate in an election won by long-serving president Omar Al Bashir.
Mr Idris holds degrees in philosophy from Cairo University and in law from the University of Khartoum, and a doctorate in international law from the University of Geneva. He served as a diplomat in Sudan’s foreign service, rising to the rank of ambassador, and was twice a member of the UN International Law Commission. He says he speaks English, Arabic, French and Spanish.
Consolidating power
The appointment comes as part of an effort by Gen Al Burhan to bolster the credibility of Sudan’s military-led government domestically and internationally. The army says it hopes to consolidate power and push forward a transition to a civilian-led government.
As well as naming Mr Idris as Prime Minister, Gen Al Burhan reappointed Salma Abdel Jabbar Almubarak and added Nowara Abo Mohamed Mohamed Tahir to the ruling sovereign council, signalling a broader reshuffle of Sudan’s transitional governing structure.
While installing Mr Idris as Prime Minister is a significant step, questions remain about the extent of his authority within a government dominated by the military. The army continues to face resistance from the RSF, which has launched drone attacks on Port Sudan and other Sudanese cities in recent weeks.
However, the army’s control over Khartoum and other key regions has allowed Gen Al Burhan to strengthen his grip on power and signal a shift towards a new phase of governing.
The war between the army and the RSF broke out after disagreements over integrating their forces as part of the democratic transition after the downfall of Al Bashir in 2019.
The conflict has devastated Sudan and led to one of the world’s largest and most serious humanitarian crises.
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%3Cp%3E%3Cstrong%3EEdinburgh%3A%3C%2Fstrong%3E%20November%204%20%3Cem%3E(unchanged)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBahrain%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2015)%3C%2Fem%3E%3B%20second%20daily%20service%20from%20January%201%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKuwait%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2016)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMumbai%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAhmedabad%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColombo%3A%3C%2Fstrong%3E%20January%202%20%3Cem%3E(from%20January%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMuscat%3A%3C%2Fstrong%3E%3Cem%3E%20%3C%2Fem%3EMarch%201%3Cem%3E%20(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ELyon%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBologna%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Emirates%3C%2Fem%3E%3C%2Fp%3E%0A
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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