Cameroonianss, based in a quiet corner of Deira’s Naif souq, ready to cheer on national team


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DUBAI // Amidst the hustle and bustle of Deira’s Naif souq, traders regularly gather at a little restaurant in an alley off 17th street to take break from the day’s sales.

The venue is a favourite with Cameroonians who sit and chat about anything and everything, except work. It’s no surprise that football is always a popular subject.

“Football is life in Cameroon,” said Modesto Lando. “We have many issues and disagreements, but when it comes to football it brings all the people together.”

“Even the politicians use football to get elected. Our current president used the national team and local teams to get elected. The government spends a lot of money on the football team because they know that if the football team is doing well, all the other problems will be forgotten,” said Mr Lando.

Cameroon, which lost its opening match to Mexico, 1-0, did not do much to instil fans with confidence.

“I’m not too sure about this team. They have too many conflicts, they are not really playing as a team,” said Mr Lando.

“I was surprised that they qualified,” added Blaise Kadjo. “They were not doing so well in the beginning. They only just made it when they beat Tunisia 4-1.”

Mr Kadjo said he hopes his team has found a way to overcome their issues. “It’s all ego. None of them were playing with heart, they were not prepared and there was no team spirit. I’m not sure if they can win more than two matches.”

“I’ll be surprised if they do,” Mr Lando said. “Yes, we have doubts about the team. But once they come on the field everything changes. The Cameroonian confidence begins to override both with the player and the fans.”

For Claude Kouam, following the national team has been about more than just supporting your country, it meant supporting a friend too. Now a renowned boxing coach, Claude was a goalkeeper in his youth and teammate of former national team star Geremi Njitap

“When I was 11 years old I was teammates with Geremi Njitap. We became good friends, we still try to keep in touch and do events at home.”

Geremi played for Spanish giants Real Madrid from 1999 to 2003, won two Champions League medals and was nominated for the Ballon d’Or in 2000. He played for Chelsea from 2003 to 2010 and won the Premier League twice. He also represented his country from 1996 to 2010 in 118 games including the 2002 World Cup in Japan and South Korea.

“I remember when Cameroon won the Olympic gold medal in the 2000 Sydney games,” said Mr Kouam. “When they came home everyone came out to the streets to greet them. The police blocked off the roads for the team to pass. I remember being so excited that I jumped the barricade and stood in the middle of the road, arms outstretched, blocking the team bus,” he said with a giggle.

“The police wanted to arrest me, but then Geremi got out of the bus and came and gave me a hug.”

Mr Kouam always dreamed of being a professional football player. “Because of my size and height, the coaches recommended I go for boxing instead of football.”

“I really want them to have a good performance at the World Cup. Mostly because I will be back home for the second round, and really there is nothing like the feeling of celebrating a win at home. The streets are empty when the team is playing. You have 25 million people all with one hope and one heart,” said Mr Kouam. “If we win there will be dancing in the streets. I don’t even want to think about a loss.”

Cameroon’s biggest test will come when they face the hosts Brazil, said Mr Kadjo. “We have a history of upsetting the samba kings. If we beat Brazil it will be a successful World Cup for us, even if that is the only match we win.”

But even if their home team don’t excel, the Cameroonian fans will lend their support to other African nations. “But in the end we are African, we will support all the African teams,” said Mr Lando.

malkhan@thenational.ae

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SERIES INFO

Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series

All matches at the Zayed Cricket Stadium, Abu Dhabi

Test series

1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March

Play starts at 9.30am

T20 series

1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March

TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube

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.”

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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