Billionaire philanthropist and Microsoft's cofounder Bill Gates has a plan to end hunger in Africa. Mike Segar / Reuters
Billionaire philanthropist and Microsoft's cofounder Bill Gates has a plan to end hunger in Africa. Mike Segar / Reuters

The chicken comes first



Bill Gates is about to buy some chickens. A lot of chickens. The Microsoft cofounder and international philanthropist has pledged to donate 100,000 chickens to families across Africa through the charity Heifer International. While that might sound like a lot of chickens, there is a pragmatic logic in Mr Gates’s latest move to help the needy in Africa.

Chickens are an excellent source of healthy protein. Chicks are inexpensive and aren’t known for carrying as many diseases as other livestock. Moreover, chicken eggs perfectly complement rural diets heavy on carbohydrates. It is an ideal food for people in need. Mr Gates’s purchase follows his other intelligent philanthropic initiatives. Instead of reinventing the wheel when it came to curbing the spread of malaria, Mr Gates invested in mosquito nets to limit the spread of the disease. A simple measure that had a major effect.

Now, one could argue that dumping thousands of chickens on a rural population could result in a number of chicken dinners that night – but the reality is much different. Chicken farming has become a popular endeavour throughout rural Africa because initial investments are relativity low. Start with a few chicks, sell their eggs when they mature and slowly grow an entrepreneurial endeavour.

Therefore, Mr Gates’s 100,000 chickens are actually an investment in capacity building at the lowest level of the economy. Just as micro loans have proven successful for the lowest class brackets of fledging African economies, the chicken initiative is another, novel stab at addressing the problem of poverty.

In a blog post announcing the measure, Mr Gates summed up the brilliant simplicity of his chicken idea. “I’ve met many people in poor countries who raise chickens and I have learnt a lot about the ins and outs of owning these birds” Mr Gates wrote. “It’s pretty clear to me that just about anyone who’s living in extreme poverty is better off if they have chickens.” He is correct and his idea could change the lives of millions. Sometimes the most straightforward solution to a problem is the best one.

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Naga
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Who is Allegra Stratton?

 

  • Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
  • Took up a public relations role for Chancellor Rishi Sunak in April 2020
  • In October 2020 she was hired to lead No 10’s planned daily televised press briefings
  • The idea was later scrapped and she was appointed spokeswoman for Cop26
  • Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
  • She has strong connections to the Conservative establishment
  • Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
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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.”

'Operation Mincemeat' 

Director: John Madden 

 

Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton

 

Rating: 4/5

 
Tips from the expert

Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.

  1. Sellers should focus on providing high-quality used goods at attractive prices to buyers.
  2. It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
  3. Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
  4. Be creative and look around your home for valuable items that you no longer need but might be useful to others.
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Brief scores:

Everton 0

Leicester City 1

Vardy 58'

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

ARGYLLE
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