Mark Cavendish of Great Britain receives his silver medal after finishing second in the Elite Men's Road Race on day eight of the UCI Road World Championships on October 16, 2016 in Doha, Qatar. Bryn Lennon / Getty Images
Mark Cavendish of Great Britain receives his silver medal after finishing second in the Elite Men's Road Race on day eight of the UCI Road World Championships on October 16, 2016 in Doha, Qatar. Bryn Show more

Abu Dhabi Tour: Out of Africa, Team Dimension Data for Qhubeka pushing cycling’s global message



For a moment, leave the cynicism that any reference to cycling might arouse at the door. These have not been, it is safe to say, glory years for cycling. In scandal after scandal, its reputation has taken a hit.

Never more than these years has it seemed that the sole purpose of professional cycling is commercial; never more has it been more apt that the origins of the greatest race of them all – the Tour de France – lay solely in the desire of a newspaper to boost its circulation.

But for at least one of the 18 teams getting ready to compete at the second Abu Dhabi Tour beginning Thursday, the same cannot be said – not completely, anyway. Team Dimension Data for Qhubeka, for whom Mark Cavendish competes, is the only pro cycling team on the circuit from the African continent.

See also:

• Osman Samiuddin: Dedication of organisers means Abu Dhabi Tour always destined for elite status

• Former Tour de France champion Bradley Wiggins pulls out of Abu Dhabi Tour cycling event

• Abu Dhabi Tour 2016: Teams, road closures, schedule and everything you need to know

The South Africa-registered team has worked its way up the cycling circuit from when it first came into being, in 2007. And its goals stretch far beyond just winning races.

“The theory behind the team was that Africa has produced some of the best endurance runners, so why not cyclists?” said Doug Ryder, the team principal. “That started the dream of developing an African world champion cyclist and taking an African-registered team to succeed at the highest levels in world cycling to showcase the potential of Africa in a sport that Africans historically were not a part of.”

The team partnered with the Qhubeka charity (Qhubeka is an Nguni word that means "to carry on" or "to progress") in 2011. Since then its fortunes – and vision – have grown. A #BicyclesChangeLives campaign this year is close to its target of providing 5,000 bicycles to schoolchildren through the continent.

In the last two years the charity has donated 65,000 cycles to schools in South Africa, not only with hopes of keeping children in school, but in developing more African cycling talent.

Cavendish’s switch to the team at the start of the year has not only helped transform the team profile, it has also changed him. After winning a stage at the Tour de France this year, he said he had been given a new “lease of life”: it had upturned the equation by which he rides.

“It’s given me a cause to ride for rather than just pressure to win. I’m very fortunate to have ridden for the biggest teams in cycling. They were successful years, I had a lot of fun and made a lot of friends. But with the biggest teams and the biggest funds comes a lot of pressure to win.

“Now it’s something more than just winning, more than being a moving billboard. We ride for Qhubeka. It’s about getting 5,000 kids on bikes in Africa. It’s close to every rider’s heart. It could be a spiel but it’s not, it’s 50 per cent of what we do, with results the other 50 per cent.”

This has been a breakthrough year for the team, as more riders have signed on, bringing more wins. Cavendish and Steve Cummings won five stages between them for the team at the Tour de France.

The Norweigan Edvald Boasson Hagen has won important stages through the year, including at the Tour of Qatar and Tour of Oman. Cavendish was an overall winner in Qatar and Cummings the winner of the Tour of Britain.

Perhaps most significant has been the achievement of Daniel Teklehaimanot, the Eritrean who became the first African rider in the history of cycling to wear the polka-dots jersey (king of the mountains) at the Tour de France in 2015 and retained it this year.

The team’s prominence tails in nicely with cycling’s global push, to break out of Europe and into nascent markets of Africa and the Gulf.

“It his hard to think of a race calendar without them” said Ryder, referring to races in the Gulf. “It is these races that help to globalise the sport. As we could see this year, they are races that make for some interesting competition and as such, I guess, they are also a great viewing experience.

“These events create interest and will open the eyes of the locals to a sport they might not know even existed. This is the first step in getting the interest in the sport up and then local participation will come from that and hopefully more pro riders from the Gulf in the not too distant future.” ​

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MATCH INFO

Day 1 at Mount Maunganui

England 241-4

Denly 74, Stokes 67 not out, De Grandhomme 2-28

New Zealand 

Yet to bat

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

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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1. Bantamweight: Victor Nunes (BRA) v Siyovush Gulmamadov (TJK)

2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)

3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)

4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)

5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)

6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)

7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)

8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)

9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)

10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)

11. Bantamweight World title: Jaures Dea (CAM) v Xavier Alaoui (MAR)

12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)

Our legal advisor

Rasmi Ragy is a senior counsel at Charles Russell Speechlys, a law firm headquartered in London with offices in Europe, the Middle East and Hong Kong.

Experience: Prosecutor in Egypt with more than 40 years experience across the GCC.

Education: Ain Shams University, Egypt, in 1978.

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Dir: Taika Waititi

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Four stars

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
MATCH INFO

Uefa Champioons League semi-final, first leg:

Liverpool 5
Salah (35', 45 1'), Mane (56'), Firmino (61', 68')

Roma 2
Dzeko (81'), Perotti (85' pen)

Second leg: May 2, Stadio Olimpico, Rome

MATCH INFO

Burnley 0

Man City 3

Raheem Sterling 35', 49'

Ferran Torres 65'

 

 

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