Gorillas are under threat in the park lands that straddle the intersecting borders of Rwanda, Uganda and Congo.
Gorillas are under threat in the park lands that straddle the intersecting borders of Rwanda, Uganda and Congo.
Gorillas are under threat in the park lands that straddle the intersecting borders of Rwanda, Uganda and Congo.
Gorillas are under threat in the park lands that straddle the intersecting borders of Rwanda, Uganda and Congo.

Congo gorillas close to extinction


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DOHA // Illegal logging, mining and poaching for bushmeat are pushing gorillas and other great apes in Africa's Congo basin ever closer to extinction, according to a report released yesterday. Earlier estimates that the natural habitat of gorillas could shrink by 90 per cent within two decades now seem overly optimistic, said the report, compiled jointly by the UN Environment Programme (UNEP) and international police organisation Interpol.

"With the current accelerated rate of poaching for bush meat and habitat loss, the gorilla of the Greater Congo Basin may now disappear from most of their present range within 10 to 15 years," said UNEP's Christian Nellemann. Outbreaks of Ebola fever have dimmed survival prospects even further, said the report, launched at a meeting of the Convention on the International Trade in Endangered Species (Cites) in the Qatari capital, Doha.

The virus has killed thousands of great apes, including gorillas, with about 90 per cent of infected animals doomed to die. The report, The Last Stand of the Gorilla - Environmental Crime and Conflict in the Congo Basin, points its finger at rebel militias ensconced in the remote reaches of eastern Democratic Republic of Congo. Much of the environmental damage and hunting is linked to trade - worth hundreds of millions of dollars - in illegally extracted gold, diamonds and precious woods carried out by the militias to fund their conflict, it found.

Insecurity caused by the fighting, meanwhile, has driven hundreds of thousands of people into refugee camps, creating a demand for ape meat as food. Logging and mining camps with likely links to militias hire poachers to supply refugees and local markets in towns across the region with bush meat. "This is a tragedy for the great ape and one also for countless other species being impacted by this intensifying and all too often illegal trade," said Achim Steiner, UNEP's executive director.

More than 190 rangers have been killed in recent years in the Virunga National Park, most likely by militia members seeking unfettered access to the resources they exploit for revenue. Mountain gorillas are found only on the slopes of the Virungas on the borders of Rwanda, Uganda and the Democratic Republic of Congo, and fewer than 700 individuals remain in the wild, according to the Dian Fossey Gorilla Fund International.

* Agence France-Presse

The specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

Power: 671hp

Torque: 849Nm

Range: 456km

Price: from Dh437,900 

On sale: now

The specs

Engine: 5.0-litre supercharged V8

Transmission: Eight-speed auto

Power: 575bhp

Torque: 700Nm

Price: Dh554,000

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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.”

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

The Specs

Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now

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Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag

Company profile

Name: Oulo.com

Founder: Kamal Nazha

Based: Dubai

Founded: 2020

Number of employees: 5

Sector: Technology

Funding: $450,000