Solveig Nicklos, dean of the Abu Dhabi School of Government takes part in a panel discussion at the Milken Institute 2019 Mena Summit in Abu Dhabi. Antonie Robertson / The National
Solveig Nicklos, dean of the Abu Dhabi School of Government takes part in a panel discussion at the Milken Institute 2019 Mena Summit in Abu Dhabi. Antonie Robertson / The National
Solveig Nicklos, dean of the Abu Dhabi School of Government takes part in a panel discussion at the Milken Institute 2019 Mena Summit in Abu Dhabi. Antonie Robertson / The National
Solveig Nicklos, dean of the Abu Dhabi School of Government takes part in a panel discussion at the Milken Institute 2019 Mena Summit in Abu Dhabi. Antonie Robertson / The National

Governments of the future must rethink the way their employees learn


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When I first moved to the UAE and visited the Abu Dhabi Corniche, the beautiful dhows in the waters of the Arabian Gulf reminded me of a model sailboat that my grandfather kept on his desk when I was a child, and that now sits on my own desk. I remembered how my grandfather worked in the same job for more than 40 years. I also recalled a picture of a classroom from his era and marvelled that not a great deal has changed since those days. Overall, classrooms then and classrooms now look almost the same.

And yet, today, we find ourselves in careers and industries that are very different. Technology has changed nearly every aspect of work. We shift industries and roles often, we are professionally and geographically mobile. So, why hasn’t the way we learn – even as adults – evolved to reflect this?

Abu Dhabi has embarked on a comprehensive investment program to accelerate the economic transformation of the emirate: Ghadan 21, or Tomorrow 21. This Dh50 billion programme, spanning 300 initiatives, is a massive effort by the leadership to make Abu Dhabi a globally competitive place to do business by 2021. To make that happen, we need to deliver a seismic shift in the professional development of some 60,000 government employees, across Abu Dhabi's public sector. It's a mission of huge significance to the nation and the future development of Abu Dhabi.

Learning is an essential part of the process, as these government employees deliver critical components of the leadership’s vision. At the Abu Dhabi School of Government (ADSG), we are taking the necessary steps to make the correct learning available. We need to make sure that those in key positions have the skills and knowledge required to drive this young nation towards the next phase of its development. It’s a momentous challenge, and the clock is ticking.

We want to encourage all government employees to be curious learners for life

We want to encourage all government employees to be curious learners for life. The ADSG programmes, combined with competency-based learning, will evolve the cultural and learning philosophy of all government employees. By doing so, we seek to change the thinking within their entities at the same time. This means providing training to help learners attain both technical and behavioural skills, and, importantly, to then deploy them to meet Abu Dhabi’s needs. Employees will not simply learn what to do, they will learn how to learn.

Yet, how do you ensure success when the landscape is so vast? Sixty thousand government employees have different and competing demands on their time. Their day jobs keep them fully engaged, and we need to make sure that different levels of the workforce are learning new skills in the right areas. Being able to assess where people need to upskill is a challenge alone. How will we measure our success?

What’s clear is that the old Victorian system of learning has come to an end. The typical, linear approach of current education systems has been repeated across continents for centuries. It’s served us well, but the dawn of change is already here, and generations to come will need to learn in a different way. The days where we sit in lectures memorising various texts are fading quickly.

We cannot create curious, knowledge-seeking learners without creating a new learning ecosystem, and digital technology is at the heart of this. Sixty-five percent of today’s students will work in jobs or careers that don’t exist yet. New technological formats such as AI, cryptography and fintech are all on the rise, and the UAE is seeking to play a role so that there is a sustainable economy fit for the future requirements of its citizens. We’ve seen a decrease in demand for roles where manual dexterity, endurance and precision are required, while behavioural skills are becoming more necessary. This includes analytical thinking, innovation, resilience, flexibility and complex problem solving.

Economies are changing fast as a result. The Fourth Industrial Revolution has arrived, and 85 per cent of job markets that will exist in 2030 have not yet been invented. Part of our role is to develop government employees who are able to design those markets, ensure that education prepares the workforce for those jobs and that the UAE leaps ahead as the region’s highest-performing economy. Countries all around us have their plans and are making their own investments to ready themselves for the challenges ahead. Competition will be fierce, but the UAE has a bold plan to beat that ticking clock.

Solveig Nicklos is dean of the Abu Dhabi School of Government

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.”

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

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

Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

The specs

Engine: 6.2-litre V8

Transmission: ten-speed

Power: 420bhp

Torque: 624Nm

Price: Dh325,125

On sale: Now

Know your Camel lingo

The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home

Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless

Asayel camels - sleek, short-haired hound-like racers

Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s

Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival

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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%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A