A child looks out of a window behind Ban Ki-moon, the United Nations Secretary General, at Heal Africa Hospital in Goma.
A child looks out of a window behind Ban Ki-moon, the United Nations Secretary General, at Heal Africa Hospital in Goma.

UN peacekeepers prepare for backlash



GOMA, DRC // UN peacekeepers are preparing for a backlash of Hutu militia attacks on villagers in eastern Congo after last week's withdrawal of Rwandan troops from this grief-stricken region. The UN secretary general, Ban Ki-moon, who wrapped up talks with Rwandan and Congolese leaders in central Africa yesterday, warned of a power vacuum emerging in North Kivu that could further jeopardise citizens' lives.

Mr Ban's comments came after the withdrawal of Rwandan soldiers from the Democratic Republic of the Congo (DRC) and amid fears of further attacks from the Democratic Forces for the Liberation of Rwanda (FDLR). "We must not allow such a kind of security vacuum by allowing the FDLR - or any other armed groups - to retake" their positions, Mr Ban told reporters after meeting the Congolese president, Joseph Kabila, in Kisangani, in north-central Congo, on Saturday.

The FDLR, a 6,500-strong Hutu militia alleged to be responsible for atrocities in the 1994 Rwanda genocide, has already launched minor reprisal attacks against Congolese villagers following the Rwandan withdrawal. The Congolese national army had previously forced the FDLR into retreat through a joint operation with Rwandan troops, although officials estimate that only about 180 members of the Hutu fighting force were eradicated during the surge.

"The concern is what happens next now the Rwandans have left," said Ross Mountain, the UN's deputy special representative in the DRC. "We have the FDLR mostly moved into the bush and, of course, come back. They have exacted, in a number of cases, reprisals against the civilian population." Mr Ban said joint operations between forces from Rwanda and the DRC, which were formerly enemies, presented "newly created opportunities" for peace in war-ravaged eastern Congo, but serious concerns remain over the safety of civilians.

Congolese national forces have a poor track record in tackling the 22 rebel groups in North Kivu; the UN peacekeeping force, known by its French acronym, Monuc, has been likewise accused of failing to prevent atrocities. Mr Mountain admitted that Monuc, despite being the world's largest UN peacekeeping force with 17,000 members, was unable to protect Congolese citizens across a territory the size of western Europe.

"There is no way in the world we are going to be behind every banana tree," Mr Mountain told journalists aboard a flight through thick Congolese cloud cover. "This is just simply impossible for us to be able to prevent all these exactions." Similar concerns were echoed across the region. Tanzania's minister for foreign affairs and international co-operation, Bernard Membe, called for a beefed-up Monuc presence to thwart the anticipated FDLR resurgence.

And Marcel Stoessel, who heads Oxfam's mission in Congo, said in a statement: "The next few months are likely to be even more dangerous for civilians as the offensive expands." Eastern Congo has seen thousands die in atrocities committed by both rebel and government forces, which have forced a further 800,000 to flee their homes. This adds to the woes of a country that sees 1,500 Congolese die every day from poverty and diseases like malaria, Ebola and the plague.

Monuc's force commander, Gen Babacar Gaye, described the difficulty of eradicating the FDLR, which lives among civilians and funds its operations by mining in mineral-rich Congo. "They will not deep-trench and carry out a classic battle against you - they will melt into the bush," Gen Gaye said. "It is a long-term process. We need to smother them and cut their lifelines." UN peacekeepers are further concerned by the Congolese government's apparent reluctance to co-operate with Monuc, after Mr Kabila's failure to inform the world body about launching joint operations with Rwanda last month.

After meeting with the Congolese leader, Mr Ban said: "Close collaboration between the government and Monuc is especially important to stabilise the east and protect the population. "Monuc's mandate is to support, not to substitute for, action by Congolese authorities and institutions." The secretary general's meeting with the Rwandan president, Paul Kagame, in Kigali yesterday brought an end to his four-nation tour of sub-Saharan Africa. His nine-day trip is due to end today in Sharm El Sheikh, Egypt, where he attends the international pledging conference to rebuild Gaza after Israel's offensive against Hamas.

jreinl@thenational.ae

List of UAE medal winners

Gold
Faisal Al Ketbi (Open weight and 94kg)
Talib Al Kirbi (69kg)
Omar Al Fadhli (56kg)

Silver
Zayed Al Kaabi (94kg)
Khalfan Belhol (85kg)
Zayed Al Mansoori (62kg)
Mouza Al Shamsi (49kg women)

Bronze
Yahia Mansour Al Hammadi (Open and 94kg)
Saood Al Hammadi (77kg)
Said Al Mazroui (62kg)
Obaid Al Nuaimi (56kg)
Bashayer Al Matrooshi (62kg women)
Reem Abdulkareem (45kg women)

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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