Support within Zanu-PF for Robert Mugabe has been described as unshakeable.
Support within Zanu-PF for Robert Mugabe has been described as unshakeable.

Mugabe set to secure fresh term as party leader



HARARE // Robert Mugabe, 85, the president and leader of Zanu-PF, is on course to securing a fresh five-year term as party leader. The recent endorsement of nine out of 10 provincial committees ensures he will be the sole candidate for the presidency at the party congress in December. Mr Mugabe has been the president and first secretary of Zanu-PF for 33 years and head of state and government for 29 years. In terms of the party's constitution, he must secure the support of six provinces to get a new term. Given the support he has pre-congress, and barring unforeseen events, he will be 90 when his tenure as the party's head expires. Ibbo Mandaza, former chairman of the Southern Africa Political Economy Series Trust, said Zanu-PF's failure to renew its leadership could precipitate its downfall. He said Mr Mugabe's advancing age and the taxing demands of running a country together with younger competitors in the unity government could put a strain on him. "The endorsement of his leadership shows that there is no one in Zanu-PF who is prepared to challenge him," Mr Mandaza said. "That will precisely lead to the demise of Zanu-PF as a party. This means the Movement for Democratic Change (MDC) is likely to come to power by default. If Zanu-PF had resolved the succession of Mugabe, it could have stood some chance. But as long as he remains, the MDC is stronger." Mr Mandaza, who has a doctorate in political science, and Simba Makoni, a former senior member of Zanu-PF, left the party last year because of frustration over problems regarding leadership renewal in the former liberation movement. Endorsing the veteran leader's leadership, loyalists described their support in Mr Mugabe as "unshakeable" and said he was a "supreme leader" and "principled revolutionary". "We as Zanu-PF Manicaland province have agreed unanimously to endorse the candidature of Comrade Robert Mugabe to remain in charge of our party affairs and the nation," Bezel Nyabadza, the provincial party chairman, said recently. "President Mugabe has remained resolute and steadfast despite his persecution and vilification by the former colonial power Britain and her allies. Zanu-PF requires a steadfast, tried and tested leadership in the name of Comrade Robert Mugabe to steer the country out of the turbulent environment." The support he has received from Bulawayo, Masvingo, Manicaland, Mashonaland Central, Matabeleland South, Mashonaland West, Midlands, Matabeleland North and Harare provinces means there will be no contest for his job at the party congress. This apparent unity, said Eldred Masunungure, chairman of Mass Public Opinion Institute, a political think-tank, masks factionalism, which he said has divided the party into two groups - one led by Solomon Mujuru, an influential retired army general, and the other that supports Emmerson Mnangagwa, the minister of defence. "It is common knowledge that the factions exist," said Mr Masunungure, also a political science professor at the University of Zimbabwe. "I do not know why they appear to have closed ranks this time around, a time when we thought they want to renew their leadership." McDonald Lewanika, co-ordinator of Crisis in Zimbabwe Coalition, a civic organisation, said there is a crisis of leadership in Zanu-PF. "It is largely a party in crisis," Mr Lewanika said. "When you find yourself continuing to revert to the same leadership every time when there is a chance for renewal, you must know you have a crisis." He agreed with Mr Mandaza that MDC has a better chance of winning the next election against an unreformed Zanu-PF. "Results of the March 2008 elections showed that Mugabe as a brand does not sell," Mr Lewanika said. In the election, Mr Mugabe lost to the MDC leader, Morgan Tsvangirai, by more than 100,000 votes. But Mr Tsvangirai failed to garner more than 50 per cent of the valid ballots, so a second vote was held the following June. Mr Mugabe won the re-run by two million votes after Mr Tsvangirai withdrew, claiming political violence targeting his supporters. The men formed a unity government in February with Mr Mugabe retaining the presidency and Mr Tsvangirai becoming the prime minister.

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Name: Ayisha Abdulrahman Gareb

Age: 57

From: Kalba

Occupation: Mukrema, though she washes bodies without charge

Favourite things to do: Visiting patients at the hospital and give them the support they need.
Role model: Sheikha Fatima bint Mubarak, Chairwoman of the General Women's Union, Supreme Chairwoman of the Family Development Foundation and President of the Supreme Council for Motherhood and Childhood.

 

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Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
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  5. Full hormone production regained within 4-6 months
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

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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.”

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EXPATS
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Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

Info

What: 11th edition of the Mubadala World Tennis Championship

When: December 27-29, 2018

Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams

Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823