As the Women's Day slogan says, it's up to women to make change in their lives. (iStock)
As the Women's Day slogan says, it's up to women to make change in their lives. (iStock)
As the Women's Day slogan says, it's up to women to make change in their lives. (iStock)
As the Women's Day slogan says, it's up to women to make change in their lives. (iStock)

It’s up to women to make it happen


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“Girls are beautiful and boys are smart.” This is my four-year-old daughter’s latest pronouncement. She also currently believes that doctors are boys and nurses are girls. But then she also thinks there is a tooth fairy, that flowers can talk and that I really will cook spider soup for her dinner if she’s naughty. Even so, none of this changes the fact that despite being brought up in a family where she is given every opportunity, and sees choices and opportunities given to both genders, she has been infected with the stubborn social idea that girls are about looks and nurturing, and boys are about skills and making things happen.

Thank goodness then that the theme for tomorrow’s International Women’s Day is “make it happen”.

Tradition and authority can make it feel impossible for women to change the status quo, especially when our assumptions of what is suitable behaviour for men and women run so deep. If our daughters are told the options open to them, and their education, choices and life decisions are shaped accordingly, then no matter how much we talk about change it will never come.

Women continue to suffer poor opportunities – and therefore life outcomes. They are twice as likely to be illiterate as men. Globally, nearly 500 million adult women are illiterate compared to just over 250 million men. Maternal mortality, physical and sexual violence against women, economic poverty, greater share of housework, denial of autonomy … the list of discriminatory and negative events facing women is vast.

We need to stand firm against such discrimination. Women must be at the forefront of that change. All women must take a critical look at their own attitudes and actions to see how, both in our deepest hearts as well as our most obvious actions, we may be entrenching negative attitudes towards women. As mothers-in-law, perhaps we expect our daughters-in-law to act as maids to our sons, while our sons abuse them. We may be discouraging our daughters from careers that are said to be “unsuitable for women” even though they show huge aptitude. We may sing the praises of a young girl who is “fair” and talk disparagingly of a darker-skinned child. We may dismiss the efforts of women in the public sphere as unbecoming, manlike or brazen. We may condone child marriage. We may sneer at women who leave abusive marriages. I’ve seen such attitudes in all cultures, all classes and in developing and developed nations alike.

All too often, women police the status quo, even though the victims are women too. Sometimes, this is understandable. Women who have suffered at the hands of other women, may believe that those they make suffer should suck it up. But they also believe that they can do nothing to change the situation. But women must believe to their very core that things can be different and a more equitable future is possible.

Men are partners in creating this change. But as women living the experience, we must be the front line for change against socially entrenched ideas.

Action comes from the intractable belief that women deserve better. We deserve better. We must make it happen.

Shelina Zahra Janmohamed is the author of Love in a Headscarf and blogs at www. ­spirit21.co.uk

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

'Champions'

Director: Manuel Calvo
Stars: Yassir Al Saggaf and Fatima Al Banawi
Rating: 2/5
 

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.”