Mali’s president announced his resignation late on Tuesday, only hours after armed soldiers seized him from his home in a dramatic power grab following months of protests demanding his removal.
The news of President Ibrahim Boubacar Keita’s departure was met with jubilation by anti-government demonstrators and alarm by former colonial ruler France, and other allies and foreign nations.
The UN Security Council scheduled a closed meeting on Wednesday afternoon to discuss the unfolding situation in Mali, where there is a 15,600-strong international peacekeeping mission.
Speaking on national broadcaster ORTM before midnight, a distressed Mr Keita, wearing a mask amid the Covid-19 pandemic, said his resignation – three years before his final term was due to end – was effective immediately.
A banner across the bottom of the television screen referred to him as the “outgoing president”.
“I wish no blood to be shed to keep me in power,” Mr Keita said. “I have decided to step down from office.”
He also announced that his government and the National Assembly would be dissolved, certain to further the country’s turmoil amid an eight-year insurgency and the growing coronavirus pandemic.
Mr Keita, who was democratically elected in 2013 and re-elected five years later, was left with few choices after the mutinous soldiers seized weapons from the armoury in the garrison town of Kati and then advanced on the capital of Bamako. They took Prime Minister Boubou Cisse into custody along with the president.
There was no immediate comment on Wednesday from the troops, who hailed from the same military barracks where a coup was launched more than eight years ago, allowing the insurgency to take hold amid a power vacuum.
The political upheaval unfolded months after disputed legislative elections. And it also came as support for Mr Keita tumbled amid criticism of his government’s handling of the insurgency, which has engulfed a country once praised as a model of democracy in the region.
The military has taken a beating over the past year from ISIS and Al Qaeda-linked groups. A wave of deadly attacks in the north in 2019 prompted the government to close its most vulnerable outposts as part of a reorganisation aimed at stemming the losses.
Tuesday’s developments were condemned by the African Union, the United States, and the regional bloc known as ECOWAS, which had been trying to mediate Mali’s political crisis. Former coloniser France as well as the United Nations, which has maintained a peacekeeping mission in Mali since 2013, also expressed alarm before Mr Keita’s speech.
UN Secretary General Antonio Guterres sought “the immediate restoration of constitutional order and rule of law,” the world body's spokesman Stephane Dujarric said.
But news of Mr Keita’s detention was celebrated throughout the capital by anti-government protesters, who first took to the streets in June to demanding president's resignation.
“All the Malian people are tired – we have had enough,” one demonstrator said.
The detention was a dramatic change of fortune for Mr Keita, who seven years earlier emerged from a field of more than two dozen candidates to win Mali’s first democratic post-coup election in a landslide with more than 77 per cent of the vote.
Regional mediators from ECOWAS, though, had failed in recent weeks to bridge the impasse between Mr Keita’s government and opposition leaders, creating mounting anxiety about another military-led change of power.
Then on Tuesday, soldiers in Kati took weapons from the armoury at the barracks and detained senior military officers. Anti-government protesters immediately cheered the soldiers’ actions, and some set fire to a building that belongs to Mali’s justice minister in the capital.
Mr Cisse urged the soldiers to put down their arms.
“There is no problem whose solution cannot be found through dialogue,” he said.
But the wheels already were in motion – armed men began detaining people in Bamako too, including the country’s finance minister, Abdoulaye Daffe.
Mr Keita, who tried to meet protesters’ demands through a series of concessions, has enjoyed broad support from France and other western allies. He was also thought to have widespread backing among high-ranking military officials, underscoring a divide between army leadership and unpredictable rank-and-file soldiers.
Tuesday marked a repeat of the events leading up to the 2012 coup, which unleashed years of chaos in Mali when the ensuing power vacuum allowed ISIS to seize control of northern towns. Ultimately a French-led military operation ejected the extremists, but they merely regrouped and expanded their reach during Mr Keita’s presidency into central Mali.
Mr Keita’s political downfall closely mirrors that of his predecessor: Amadou Toumani Toure was forced out of the presidency in 2012 after a series of military defeats. That time, the attacks were carried out by ethnic Tuareg separatist rebels. This time, Mali’s military has sometimes seemed powerless to stop extremists linked to Al Qaeda and ISIS.
Back in 2012, the mutiny erupted at the Kati military camp as rank-and-file soldiers began rioting and then broke into the camp’s armoury. After grabbing weapons, they later headed for the seat of government under the leadership of Capt Amadou Haya Sanogo.
The soldier was later forced to hand over power to a civilian transitional government, which then organised the elections Mr Keita won.
Mediators this time around have urged Mr Keita to share power in a unity government. He even said he was open to redoing disputed legislative elections. But those overtures were swiftly rejected by opposition leaders who said they would not stop short of Mr Keita’s dismissal.
SPEC%20SHEET
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M2%2C%208-core%20GPU%2C%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.3-inch%20Retina%2C%202560%20x%201600%2C%20227ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%20(2)%2C%203.5mm%20audio%3B%20Touch%20Bar%20with%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206%2C%20Bluetooth%205.0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2058.2Wh%20lithium-polymer%2C%20up%20to%2020%20hours%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%20720p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20HDR%20with%20Dolby%20Vision%2C%20HDR10%2C%20ProRes%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%20Stereo%20speakers%20with%20HDR%2C%20wide%20stereo%2C%20Spatial%20Audio%20support%2C%20Dolby%20support%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Pro%2C%2067W%20power%20adapter%2C%20USB-C%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh5%2C499%3C%2Fp%3E%0A
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.”
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
UAE currency: the story behind the money in your pockets
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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Brief scores:
Day 2
England: 277 & 19-0
West Indies: 154
Coal Black Mornings
Brett Anderson
Little Brown Book Group
Healthy tips to remember
Here, Dr Mohamed El Abiary, paediatric consultant at Al Zahra Hospital Dubai, shares some advice for parents whose children are fasting during the holy month of Ramadan:
Gradual fasting and golden points - For children under the age of 10, follow a step-by-step approach to fasting and don't push them beyond their limits. Start with a few hours fasting a day and increase it to a half fast and full fast when the child is ready. Every individual's ability varies as per the age and personal readiness. You could introduce a points system that awards the child and offers them encouragement when they make progress with the amount of hours they fast
Why fast? - Explain to your child why they are fasting. By shedding light on the importance of abstaining from food and drink, children may feel more encouraged to give it there all during the observance period. It is also a good opportunity to teach children about controlling urges, doing good for others and instilling healthy food habits
Sleep and suhoor - A child needs adequate sleep every night - at least eight hours. Make sure to set a routine early bedtime so he/she has sufficient time to wake up for suhoor, which is an essential meal at the beginning of the day
Good diet - Nutritious food is crucial to ensuring a healthy Ramadan for children. They must refrain from eating too much junk food as well as canned goods and snacks and drinks high in sugar. Foods that are rich in nutrients, vitamins and proteins, like fruits, fresh meats and vegetables, make for a good balanced diet