The military in Burkina Faso have been battling armed groups with links to Al Qaeda and ISIS since 2017. AFP
The military in Burkina Faso have been battling armed groups with links to Al Qaeda and ISIS since 2017. AFP
The military in Burkina Faso have been battling armed groups with links to Al Qaeda and ISIS since 2017. AFP
The military in Burkina Faso have been battling armed groups with links to Al Qaeda and ISIS since 2017. AFP

Coronavirus: Sahel humanitarian crisis 'spiralling' amid pandemic


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More than five million people in Africa's conflict-ravaged Sahel region are facing hunger, the World Food Programme said on Thursday, just as the coronavirus spreads into affected countries.

The agency called the situation in Burkina Faso, Mali and Niger "extremely worrying," and warned that the humanitarian crisis was "spiralling out of control".

The three countries are among the poorest in the world and are struggling to stop insurgencies that have killed thousands of people.

There are fears that their fragile healthcare systems and conflict put them at particular risk of coronavirus outbreaks.

"Our message to the world is clear – look away now and the consequences will be no less than catastrophic," said Chris Nikoi, the agency's director for West Africa.

The WFP said food insecurity Burkina Faso was particularly severe.

About 2.1 million people will face food insecurity in the West African state by June, it said, up from over 680,000 at the same time last year.

Burkina Faso has recorded 288 confirmed coronavirus cases, 16 of which have been fatal, a tracker compiled by Johns Hopkins University shows.

Across its borders, about 1.3 million people are facing hunger in Mali and 2 million in Niger.

The agency said it needed $208 million (Dh764m) until August to continue food aid, with the number of people driven from their homes by conflict growing.

It warned that displaced people "now rely almost entirely on external assistance to survive".

Mali has so far confirmed 31 coronavirus cases, while Niger has recorded 74.

Four French soldiers stationed in the Sahel region with France's Barkhane force have tested positive for coronavirus, the army said on Thursday.

Col Frederic Barbry, spokesman for the French armed forces chief of staff, told AFP one of the soldiers was being treated in Africa while the other three were flown home.

The group arrived in the area several weeks ago and were not showing symptoms, Col Barbry said.

He said people with whom they had been in contact were being placed in quarantine but military operations were continuing as normal.

The 5,100 Barkhane troops fight extremists in the region in co-operation with Mali, Burkina Faso, Niger, Mauritania and Chad.

France last week said it would withdraw its troops from Iraq, most of whom are trainers to local armed forces, because of the coronavirus pandemic.

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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.”

Roll of honour 2019-2020

Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain

West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership

UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes

UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II

UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby

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Based: Dubai, UAE

Sector: Entertainment/Streaming Video On Demand

Number of employees: 125

Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners

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  • Choose cars with GCC specifications
  • Get a service history for cars less than five years old
  • Don’t go cheap on the inspection
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  • Do a Google search on the standard problems for your car model
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Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com

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THE BIO

Mr Al Qassimi is 37 and lives in Dubai
He is a keen drummer and loves gardening
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