Kenyans are waiting anxiously for the results of the country's presidential election after a largely peaceful poll, with low turnout in some areas suggesting growing frustration with the political elite.
Although presidential front-runners William Ruto and Raila Odinga have vowed to maintain calm following Tuesday's poll, the memory of past election-related violence remains fresh for many Kenyans, who have urged political parties to accept the results.
With pressure building on the Independent Electoral and Boundaries Commission, which has to declare the results by August 16, officials worked overnight to count votes and dispel fears of cheating.
"We call for patience among Kenyans as we undertake this rigorous exercise and also endeavour to complete this exercise as soon as possible," IEBC chairman Wafula Chebukati said in a late-night briefing.
Kenyans, some of whom lined up before dawn to cast their ballot, voted in six elections on Tuesday, choosing a new president as well as senators, governors, MPs, female representatives and about 1,500 county officials.
Despite the early show of enthusiasm, however, turnout in some areas appeared to be weak, suggesting that for some Kenyans at least, patience with years of unfulfilled promises was running out.
Even those who showed up early to vote said they were tired of electing political leaders who had done little to improve their lives.
"All along we have been doing elections, getting promises but we see no change," said George Otieno Henry, a 56-year-old artisan.
"I hope this time it will be better," he told AFP in Kibera, one of Nairobi's largest slums.
By 4.00pm local time, 10 hours after polling began, turnout was at just over 56 per cent of the 22 million registered voters, according to the IEBC.
Comparable figures for the August 2017 election were not immediately available but overall turnout reached 78 per cent in that vote.
Mr Ruto, the country's deputy president, and Mr Odinga, a veteran opposition leader now backed by the ruling party, have both pledged to tackle the cost-of-living crisis and ease the lives of ordinary Kenyans.
But many are bracing for the pair to spar over the results, reflecting earlier polls in the East African nation where no presidential election outcome has gone uncontested since 2002.
Once the heir-apparent, Mr Ruto, 55, found himself banished to the sidelines after two-term President Uhuru Kenyatta — who cannot run for a third time — joined hands with his former foe Mr Odinga, 77, in a move that stunned the country.
Since then, the wealthy businessman has cast himself as the champion of "hustlers" trying to eke out a living in a country ruled by "dynasties" — the Kenyatta and Odinga families that have dominated Kenyan politics since independence from Britain in 1963.
With a third of Kenya's population living in poverty, economic pressures weighed on voters even before the war in Ukraine sent the prices of essential goods soaring.
Before the election, some observers said that the economy could surpass tribal affiliations as a factor driving voter behaviour. Others said politicians' failure to tackle the crisis could keep people away from the polling booth altogether.
"Many Kenyans … have cited their lack of faith in politicians to improve their current economic circumstances as the main reason for not participating in the August polls," Oxford Economics said in a note last week.
Analysts have suggested that Mr Odinga, a former political prisoner and prime minister who is making his fifth stab at the presidency, could edge past his younger rival.
If neither wins more than 50 per cent, Kenya will stage a run-off vote for the first time in its history.
Kenya's international partners are closely watching the election in a country regarded as a beacon of regional stability.
Local polls were suspended in several areas on Tuesday, triggering a protest in one case, but police said the electoral process had largely "remained calm and peaceful with no major incidents to report".
Security was tight, with a view to preventing a repeat of the post-election violence that has hit Kenya in the past.
The 2007 poll was followed by politically motivated ethnic clashes that killed more than 1,100 people, while Mr Odinga's challenge to the 2017 election result was met with a heavy-handed police response that left dozens dead.
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
History's medical milestones
1799 - First small pox vaccine administered
1846 - First public demonstration of anaesthesia in surgery
1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases
1895 - Discovery of x-rays
1923 - Heart valve surgery performed successfully for first time
1928 - Alexander Fleming discovers penicillin
1953 - Structure of DNA discovered
1952 - First organ transplant - a kidney - takes place
1954 - Clinical trials of birth control pill
1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.
1998 - The first adult live-donor liver transplant is carried out
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Brief scores:
Toss: South Africa, chose to field
Pakistan: 177 & 294
South Africa: 431 & 43-1
Man of the Match: Faf du Plessis (South Africa)
Series: South Africa lead three-match series 2-0
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Racecard
6.35pm: The Madjani Stakes – Group 2 (PA) Dh97,500 (Dirt) 1,900m
7.10pm: Evidenza – Handicap (TB) Dh87,500 (D) 1,200m
7.45pm: The Longines Conquest – Maiden (TB) Dh82,500 (D) 2,000m
8.20: The Longines Elegant – Conditions (TB) Dh82,500 (D)
8.35pm: The Dubai Creek Mile – Listed (TB) Dh132,500 (D) 1,600m
9.30pm: Mirdif Stakes – Conditions (TB) Dh120,000 (D) 1,400m
10.05pm: The Longines Record – Handicap (TB) Dh87,500 (D) 1,900m
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The years Ramadan fell in May
Brown/Black belt finals
3pm: 49kg female: Mayssa Bastos (BRA) v Thamires Aquino (BRA)
3.07pm: 56kg male: Hiago George (BRA) v Carlos Alberto da Silva (BRA)
3.14pm: 55kg female: Amal Amjahid (BEL) v Bianca Basilio (BRA)
3.21pm: 62kg male: Gabriel de Sousa (BRA) v Joao Miyao (BRA)
3.28pm: 62kg female: Beatriz Mesquita (BRA) v Ffion Davies (GBR)
3.35pm: 69kg male: Isaac Doederlein (BRA) v Paulo Miyao (BRA)
3.42pm: 70kg female: Thamara Silva (BRA) v Alessandra Moss (AUS)
3.49pm: 77kg male: Oliver Lovell (GBR) v Tommy Langarkar (NOR)
3.56pm: 85kg male: Faisal Al Ketbi (UAE) v Rudson Mateus Teles (BRA)
4.03pm: 90kg female: Claire-France Thevenon (FRA) v Gabreili Passanha (BRA)
4.10pm: 94kg male: Adam Wardzinski (POL) v Kaynan Duarte (BRA)
4.17pm: 110kg male: Yahia Mansoor Al Hammadi (UAE) v Joao Rocha (BRA
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
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.”