Africa

DRC rebels 'offered mining rights' for weapons: prosecutor

'Supporters' rebels found in South Africa were not mercenaries: they were undercover police officers, prosecutor says.

Associated Press

February 08, 2013

PRETORIA // Nineteen alleged members of a Congolese rebel group - including one US citizen - sought help in their effort to overthrow Democratic Reublic of Congo President Joseph Kabila, offering mining rights in their resource-rich country in exchange for weapons and training, a prosecutor said yesterday.

But the men the 19 found in South Africa to help their cause were not mercenaries. They were undercover police officers.

Belonging to an organisation called the Union of Nationalists for Renewal, the men sent an email "wish list" asking for machine guns, radios and even surface-to-air missiles and arranged for a training camp, prosecutor Shaun Abrahams told a magistrate judge at a court hearing in Pretoria, South Africa's capital.

The alleged conspirators remained under watch by officers for months but never made it to their training camp. The only weapons Mr Abrahams said the group was offered came the night before the arrests, when undercover police officers coaxed the men to pose for photographs with Kalashnikov assault rifles.

Mr Abrahams said the plot - apparently led by a man who claims to be the eldest son of Congo's assassinated President Laurent Kabila - posed a serious danger to the stability of a nation long engulfed by conflict. The men wanted to "wage a full-scale war" in mineral-rich eastern Congo, Mr Abrahams said. "The accused would take back the Congo by coup and conventional warfare."

Police arrested the men Tuesday as they were on their way to what they believed would be a training camp to prepare for their armed attack in Congo, Abrahams said. Two men from the group are on the run and believed by police to still be in South Africa: leader Etienne Kabila and a man called "General Yakatumba," Abrahams said. Kabila claims to be the son of Congo's assassinated president, something the Kabila family denies. Laurent Kabila's son Joseph Kabila is the current president of the DRC.

The DRC information minister Lambert Mende said yesterday that the government wants those accused to be extradited to face justice in the country.

"Concerning the so-called Etienne Kabila: We know this is not his first coup (attempt); he has always been used for a long time by all the enemies" of the DRC, Mr Mende said.

One of the suspects was identified as James Kazongo, a US citizen.

US Embassy spokesman Jack Hillmeyer said the embassy has confirmed Mr Kazongo's is an American.

"South African authorities got in touch with our consular officers, who have visited him. We have been in touch with him and communicated with his family and provided consular services," Mr Hillmeyer said.

Making deals on DRC's mineral resources in exchange for armed support to take power has been a pattern set by rebels for decades, including when Laurent Kabila came to power in the 1990s. Records of mineral deals still show the names of Zimbabwean generals who sent troops to fight alongside Kabila's then rebels against longtime dictator Mobutu Sese Seko.

Magistrate Maryke de la Rey ordered the men held until a bail hearing February 14.

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While you're here

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.”

Five healthy carbs and how to eat them

Brown rice: consume an amount that fits in the palm of your hand

Non-starchy vegetables, such as broccoli: consume raw or at low temperatures, and don’t reheat  

Oatmeal: look out for pure whole oat grains or kernels, which are locally grown and packaged; avoid those that have travelled from afar

Fruit: a medium bowl a day and no more, and never fruit juices

Lentils and lentil pasta: soak these well and cook them at a low temperature; refrain from eating highly processed pasta variants

Courtesy Roma Megchiani, functional nutritionist at Dubai’s 77 Veggie Boutique

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Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia