Gambian president Adama Barrow greets the crowds after arriving at Banjul airport in Gambia on January 26, 2017, after flying in from Dakar, Senegal. Jerome Delay / AP Photo
Gambian president Adama Barrow greets the crowds after arriving at Banjul airport in Gambia on January 26, 2017, after flying in from Dakar, Senegal. Jerome Delay / AP Photo
Gambian president Adama Barrow greets the crowds after arriving at Banjul airport in Gambia on January 26, 2017, after flying in from Dakar, Senegal. Jerome Delay / AP Photo
Gambian president Adama Barrow greets the crowds after arriving at Banjul airport in Gambia on January 26, 2017, after flying in from Dakar, Senegal. Jerome Delay / AP Photo

Gambians rejoice as new president Adama Barrow returns


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BANJUL // Gambia’s president Adama Barrow finally returned home on Thursday, solidifying his position as the country’s first new commander in chief in two decades after a political crisis that sent the previous ruler into exile.

Hundreds of people lined the road to the airport ahead of his arrival, while boys on top of packed minibuses played drums on empty gas canisters and women danced in joy. Hundreds more gathered at the airport, where Mr Barrow emerged from the plane in a flowing white robe to shouts of “Welcome! Welcome!” He moved slowly along the red carpet, greeting people amid heavy security.

“Every Gambian must be free. We suffered for 22 years, but now enough is enough,” said Seedia Badjie, 37.

Gambians have waited eagerly for Mr Barrow’s return. The new president has promised to reverse many of the authoritarian policies of former leader Yahya Jammeh, who was accused of imprisoning, torturing and killing his political opponents.

Mr Barrow defeated Mr Jammeh in December elections, but the veteran leader had refused to cede power. The international community threw its support behind Mr Barrow.

The 51-year-old businessman was sworn into office on January 19 at the Gambian embassy in neighbouring Senegal because of security threats as the standoff continued.

Mr Jammeh finally left Gambia last weekend, bowing to international pressure that included a regional military force, ending a more than 22-year rule. The troops from the Econominc Community of West African States (Ecowas) were poised to remove Mr Jammeh by force if diplomatic talks failed. They have spent recent days securing the country for Mr Barrow’s arrival.

A larger, more formal ceremony to welcome Mr Barrow home will take place at a later date, his spokesman Halifa Sallah said.

About 2,500 of the Ecowas troops remain in Gambia – in the capital, Banjul, as well as at key crossing points between Gambia and Senegal and at the port and airport, according to Sweden’s UN ambassador Olof Skoog, the current Security Council president.

Mr Barrow has asked the troops to stay for six months to provide security, said Mohamed Ibn Chambas, special representative of the UN secretary general and head of the UN office for West Africa and the Sahel.

Gambia, with nearly 1.9 million people, has become an example in West Africa as the region strives for stable, democratic changes of power. The world watched as Gambians showed they wanted change, supporting a coalition of opposition parties whose aim was to oust Mr Jammeh and put the country on a path toward greater freedom.

Mr Jammeh has ended up in Equatorial Guinea, taking luxury cars and other riches amassed during his presidency and accompanied by trusted family and security guards.

When Mr Jammeh left, the streets in Banjul exploded in celebration, with music blaring from speakers and people dancing in the streets.

The new president is faced with immediate challenges, including a government that appears to have no funds. Mr Jammeh left the state coffers empty, the new leader has said.

Gambia’s biggest export is peanuts, though the country, the smallest on Africa’s mainland, also has become a significant source of migrants making their way to Europe.

Mr Barrow’s months ahead will be crucial to building a country that can put a climate of fear behind it and work toward reconciliation. He has vowed greater freedoms and reforms to the security forces and the constitution.

Mr Barrow has named a female vice president, Fatoumata Tambajang, who has called for Mr Jammeh to be prosecuted for human rights abuses. But it emerged that she might be above the constitutional age limit for the post, and Mr Barrow said he would form a vetting committee for further appointments.

Mr Sallah, the spokesman, said a human rights commission would be set up and the new government would create a freedom of information act.

“We expect a lot of things from Barrow,” said 26-year-old Modou Fall, who, like many others, wore a #Gambiahasdecided T-shirt to show support for the new president. “We want the forces to stay so that we can reform our army ... and we need development in this country.”

* Associated Press

Abu Dhabi GP Saturday schedule

12.30pm GP3 race (18 laps)

2pm Formula One final practice 

5pm Formula One qualifying

6.40pm Formula 2 race (31 laps)

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Afghanistan squad

Gulbadin Naib (captain), Mohammad Shahzad (wicketkeeper), Noor Ali Zadran, Hazratullah Zazai, Rahmat Shah, Asghar Afghan, Hashmatullah Shahidi, Najibullah Zadran, Samiullah Shinwari, Mohammad Nabi, Rashid Khan, Dawlat Zadran, Aftab Alam, Hamid Hassan, Mujeeb Ur Rahman.

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

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About Seez

Company name/date started: Seez, set up in September 2015 and the app was released in August 2017  

Founder/CEO name(s): Tarek Kabrit, co-founder and chief executive, and Andrew Kabrit, co-founder and chief operating officer

Based in: Dubai, with operations also in Kuwait, Saudi Arabia and Lebanon 

Sector:  Search engine for car buying, selling and leasing

Size: (employees/revenue): 11; undisclosed

Stage of funding: $1.8 million in seed funding; followed by another $1.5m bridge round - in the process of closing Series A 

Investors: Wamda Capital, B&Y and Phoenician Funds 

Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

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MATCH INFO

Uefa Champions League quarter-final, second leg (first-leg score)

Porto (0) v Liverpool (2), Wednesday, 11pm UAE

Match is on BeIN Sports

Profile of MoneyFellows

Founder: Ahmed Wadi

Launched: 2016

Employees: 76

Financing stage: Series A ($4 million)

Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund

THE SPECS

Engine: 3.6-litre V6

Transmission: eight-speed automatic

Power: 285bhp

Torque: 353Nm

Price: TBA

On sale: Q2, 2020

COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)

Date started: August 2021

Founder: Nour Sabri

Based: Dubai, UAE

Sector: E-commerce / Marketplace

Size: Two employees

Funding stage: Seed investment

Initial investment: $200,000

Investors: Amr Manaa (director, PwC Middle East) 

Where to apply

Applicants should send their completed applications - CV, covering letter, sample(s) of your work, letter of recommendation - to Nick March, Assistant Editor in Chief at The National and UAE programme administrator for the Rosalynn Carter Fellowships for Mental Health Journalism, by 5pm on April 30, 2020

Please send applications to nmarch@thenational.ae and please mark the subject line as “Rosalynn Carter Fellowship for Mental Health Journalism (UAE programme application)”.

The local advisory board will consider all applications and will interview a short list of candidates in Abu Dhabi in June 2020. Successful candidates will be informed before July 30, 2020. 

The biog

Name: Greg Heinricks

From: Alberta, western Canada

Record fish: 56kg sailfish

Member of: International Game Fish Association

Company: Arabian Divers and Sportfishing Charters

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In the Restaurant: Society in Four Courses
Christoph Ribbat
Translated by Jamie Searle Romanelli
Pushkin Press 

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.