Rwandan government spokeswoman Yolande Makolo. Reuters
Rwandan government spokeswoman Yolande Makolo. Reuters
Rwandan government spokeswoman Yolande Makolo. Reuters
Rwandan government spokeswoman Yolande Makolo. Reuters

UK makes payments to Rwanda despite stalled asylum seeker scheme


Soraya Ebrahimi
  • English
  • Arabic

Britain has made payments to Rwanda as part of its £120 million ($147m) asylum scheme despite legal challenges delaying the introduction of the policy.

The Rwandan government has already begun spending the cash, it says, to ensure it was ready for last week’s first flight, which was cancelled at the last minute.

Downing Street conceded some payments had been made to Rwanda, but would not reveal how much or when under the “confidential” deal signed two months ago.

The payments came despite the suspension of one-way flights for migrants who arrive in the UK through unauthorised journeys.

Rwanda government spokeswoman Yolande Makolo said the payments were "intended to prepare for all the accommodations and all the other institutions to, you know, beef up the processes.

"So that’s that’s been done."

Ms Makolo said the government had spent "part of it because we needed to get ready and we were ready to receive the first migrants on the 14th".

Migrant children rescued in French waters - in pictures

  • Migrants are rescued by crew members of the 'Abeille Languedoc' ship after their boat's generator broke down in French waters as they were trying to cross the Channel illegally to Britain. All photos: AFP
    Migrants are rescued by crew members of the 'Abeille Languedoc' ship after their boat's generator broke down in French waters as they were trying to cross the Channel illegally to Britain. All photos: AFP
  • Migrants wait for help in the Channel.
    Migrants wait for help in the Channel.
  • A child is rescued by crew members of the 'Abeille Languedoc'.
    A child is rescued by crew members of the 'Abeille Languedoc'.
  • The 'Abeille Languedoc' is an ocean-going tug specialising in the rescue of vessels in distress.
    The 'Abeille Languedoc' is an ocean-going tug specialising in the rescue of vessels in distress.
  • Migrant children on the rescue boat.
    Migrant children on the rescue boat.
  • The 'Abeille Languedoc' has been moored in Cherbourg for 26 years, monitoring the Channel between the Cotentin and the Pas-de-Calais.
    The 'Abeille Languedoc' has been moored in Cherbourg for 26 years, monitoring the Channel between the Cotentin and the Pas-de-Calais.
  • Migrants sit on board the 'Abeille Languedoc' after being rescued.
    Migrants sit on board the 'Abeille Languedoc' after being rescued.
  • A rescuer carries a child as they disembark from the 'Abeille Languedoc'.
    A rescuer carries a child as they disembark from the 'Abeille Languedoc'.

The first flight was halted after an interim injunction from the European Court of Human Rights, pending a decision on the legality of the scheme in the UK courts.

“The agreement with Rwanda with regards to the funding is confidential," said British Prime Minister Boris Johnson's spokesman.

"It’s fair to say we have made some payments as part of that migration partnership, that’s correct."

“Obviously there’s a number of pieces of work they need to do to get things ready, to get things set up.”

Inside a refugee camp in Rwanda - video

Fifa Club World Cup:

When: December 6-16
Where: Games to take place at Zayed Sports City in Abu Dhabi and Hazza bin Zayed Stadium in Al Ain
Defending champions: Real Madrid

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The%20Beekeeper
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First Person
Richard Flanagan
Chatto & Windus 

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MATCH INFO

Uefa Nations League

League A, Group 4
Spain v England, 10.45pm (UAE)

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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.”

Updated: June 23, 2022, 9:10 PM