Members of an extremist group stand guard during a hostage handover in the desert outside Timbuktu, Mali. AP
Members of an extremist group stand guard during a hostage handover in the desert outside Timbuktu, Mali. AP
Members of an extremist group stand guard during a hostage handover in the desert outside Timbuktu, Mali. AP
Members of an extremist group stand guard during a hostage handover in the desert outside Timbuktu, Mali. AP

UN pull-out from Mali 'recipe for disaster', US envoy says as ISIS attacks intensify


Adla Massoud
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Mali’s request for the UN to withdraw its peacekeepers by the end of the year is a “recipe for disaster”, as ISIS attacks intensify in the West African state, the US said on Monday.

“As many of us feared, the transition government's decision to close Minusma [UN Multidimensional Integrated Stabilisation Mission in Mali] has already triggered renewed violence on the ground,” US ambassador to the UN Linda Thomas-Greenfield told the 15-member Security Council.

She warned about the potential for war and emphasised that such an event could “unleash unspeakable, unthinkable devastation on the Malian people”.

The US diplomat noted that increased instability could pave the way for the expansion of terror groups in the region.

“It would be a recipe for disaster,” she said.

The unrest, fuelled by local branches of al Qaeda and ISIS, has escalated in the past year after the country's military leaders forced French troops out, ordered the 15,000 UN peacekeepers to leave by December 31 and joined forces with the Russia's mercenary Wagner Group.

According to a UN report released on Friday, ISIS extremists have almost doubled the territory they control in Mali in less than a year.

In addition, Jama'at Nusrat Al Islam Wa Al Muslimin, a terrorist group based in Mali and active across West Africa, is “now positioning itself as the sole actor capable of protecting populations against Islamic State in the Greater Sahara”.

The UN was forced to speed up the withdrawal process this month after a surge in fighting.

Reporting to the Security Council, El-Ghassim Wane, head of the peacekeeping mission in Mali, said four UN peacekeepers had been wounded in two attacks during withdrawal from the Ber camp in the north, amid tension between the Co-ordination of Azawad Movements – a coalition of Tuareg independence and Arab nationalist groups – and the Wagner-backed Malian junta.

He said almost 1,100 UN peacekeepers have so far left Mali.

However, the UN diplomat warned, the second phase of the withdrawal will be very challenging due to a tight calendar and dangerous security situation.

It will involve abandoning six bases in northern, north-eastern and central Mali by December 15.

“This phase will be incredibly difficult indeed,” Mr Wane told the council.

The first phase of the withdrawal started on July 17 and ended on Friday.

Nevertheless, he said, the withdrawal at the request of the Malian authorities and subsequent Security Council resolutions, remains “right on track” and should be completed by December 31.

Closing a mission that was built over a decade and that has to be wrapped up within a period of six months, he said, is a “very complex and ambitious endeavour” and is made even more challenging by a host of other concerns linked to human climate, logistics and infrastructure.

He said the military coup in neighbouring Niger also has affected the UN withdrawal operation.

“It is vital that we are able to transport equipment and materials through Niger” to reach key ports, he said.

James Kariuki, Britain's deputy ambassador to the UN, suggested the council consider revising the withdrawal timetable “if needed”, as a rushed operation would have “security implications for the whole region”.

Mr Wane stressed that even though Minusma is leaving Mali, the world body through its agencies, funds and programmes will “remain in the country”.

Over the past decade, more than 300 UN peacekeepers have been killed in Mali, making it the deadliest and most expensive peacekeeping mission in the world with a $1.2 billion budget.

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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.

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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.

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“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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Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.

One of its main goals is to provide permanent treatment solutions for veterinary related diseases. 

The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery. 

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Updated: August 28, 2023, 9:55 PM