France announced it is withdrawing its troops from Mali during an EU-Africa summit in Brussels. EPA
France announced it is withdrawing its troops from Mali during an EU-Africa summit in Brussels. EPA
France announced it is withdrawing its troops from Mali during an EU-Africa summit in Brussels. EPA
France announced it is withdrawing its troops from Mali during an EU-Africa summit in Brussels. EPA

Mali asks France to pull out troops 'without delay'


Neil Murphy
  • English
  • Arabic

Mali's army-led government on Friday asked France to withdraw its forces from the Sahel state “without delay”, calling into question Paris's plans to pull out over several months.

A Malian government spokesman added in a statement announced on public television that the results of France's nine-year military engagement in the conflict-torn country were “not satisfactory".

On Thursday, French President Emmanuel Macron announced that he was withdrawing troops from Mali after a breakdown in relations with the nation's junta.

France first intervened in Mali in 2013 to combat an extremist insurgency that began one year before. It currently has about 4,600 troops stationed across the Sahel, 2,400 of them in Mali.

But relations between the two countries deteriorated sharply after Mali's army seized power in a coup in 2020 and later defied calls to swiftly restore civilian rule.

The French pullout after nearly a decade is also set to see the smaller European Takuba group of special forces, created in 2020, leave Mali.

Mr Macron said the withdrawal would take place over four to six months.

Government spokesman Col Abdoulaye Maiga called the prolonged French withdrawal a “flagrant violation” of accords between the two countries.

“In view of these repeated breaches of defence agreements, the government invites the French authorities to withdraw without delay,” he said.

Mali has also asked the smaller Takuba force to depart quickly.

Mr Macron responded with a statement saying he would not compromise the safety of French soldiers and the withdrawal will take place “in orderly fashion".

The planned withdrawal of France and its allies has raised questions about the possibility of a security vacuum in impoverished Mali, a vast and ethnically diverse nation of 21 million people.

Mali's call for a swift French military withdrawal caps months of escalating tension with its former colonial master.

Relations first began to fray after Malian army officers led by Col Assimi Goita deposed elected president Ibrahim Boubacar Keita in August 2020.

The army then deposed the civilian leaders of a transitional government last year in a second coup.

Mali's international partners — including France and the Economic Community of West African States (Ecowas) — insisted that the junta stick to a pledge to stage elections in February 2022 and restore civilian rule.

But the junta then floated plans to stay in power for up to five years.

The proposal prompted the 15-nation Ecowas bloc to impose a trade embargo and shut its borders with Mali in January.

France followed by announcing a pullout on Thursday. But Paris had already begun to scale back its deployment before relations nosedived.

It closed three bases in northern Mali this year, where the bulk of its anti-extremist Barkhane force had been stationed.

Mr Macron said the closure of three bases in Gao, Menaka and Gossi would take between four to six months.

As well as concerns over civilian rule in Mali, Paris has protested the junta's reported use of Russia's Wagner Group, a private security firm.

The US and other countries say that hundreds of fighters from the paramilitary group are in the country, though the junta denies the claim.

Mali remains the epicentre of the Sahel-wide Islamist conflict, which has killed thousands of soldiers and civilians and displaced about two million people.

The conflict has spread deeper into Mali, despite the presence of French troops, which has fed popular resentment of France's military intervention.

France and its allies have vowed to remain engaged in fighting terror in the Sahel despite leaving Mali.

Rival extremist groups linked to Al Qaeda and ISIS not only carry out regular attacks on national and foreign troops, but are also fighting each other for territory.

This week, ISIS offshoot EIGS killed about 40 civilians who it claimed were complicit with their Al Qaeda-aligned rivals GSIM, local sources told AFP on Friday.

A civilian official in the northern Tessit area said it was a common occurrence.

“When a [terror] group passes through a village, the one that comes later accuses the residents of being accomplices,” said the official, whose name was withheld for security reasons.

The residents, who are “unable to kill a fly”, thus become caught up in the rivalry.

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

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.”

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Empires%20of%20the%20Steppes%3A%20A%20History%20of%20the%20Nomadic%20Tribes%20Who%20Shaped%20Civilization
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3EKenneth%20W%20Harl%3Cstrong%3E%3Cbr%3EPublisher%3A%20%3C%2Fstrong%3EHanover%20Square%20Press%3Cstrong%3E%3Cbr%3EPages%3A%20%3C%2Fstrong%3E576%3C%2Fp%3E%0A
Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

NEW%20PRICING%20SCHEME%20FOR%20APPLE%20MUSIC%2C%20TV%2B%20AND%20ONE
%3Cp%3E%3Cstrong%3EApple%20Music%3Cbr%3EMonthly%20individual%3A%20%3C%2Fstrong%3E%2410.99%20(from%20%249.99)%3Cstrong%3E%3Cbr%3EMonthly%20family%3A%20%3C%2Fstrong%3E%2416.99%20(from%20%2414.99)%3Cstrong%3E%3Cbr%3EIndividual%20annual%3A%20%3C%2Fstrong%3E%24109%20(from%20%2499)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApple%20TV%2B%3Cbr%3EMonthly%3A%20%3C%2Fstrong%3E%246.99%20(from%20%244.99)%3Cstrong%3E%3Cbr%3EAnnual%3A%20%3C%2Fstrong%3E%2469%20(from%20%2449.99)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApple%20One%3Cbr%3EMonthly%20individual%3A%20%3C%2Fstrong%3E%2416.95%20(from%20%2414.95)%3Cstrong%3E%3Cbr%3EMonthly%20family%3A%20%3C%2Fstrong%3E%2422.95%20(from%20%2419.95)%3Cstrong%3E%3Cbr%3EMonthly%20premier%3A%20%3C%2Fstrong%3E%2432.95%20(from%20%2429.95)%3C%2Fp%3E%0A
Updated: February 19, 2022, 12:19 AM