Sudan’s head of state and leading soldier on Wednesday reasserted the military’s commitment to the country’s transition to democratic rule.
Gen Abdul Fattah Al Burhan dismissed as unfounded charges that the military had no intention of giving up power.
“We in the military are more concerned and determined that the transitional period be concluded on schedule and democratic elections are held,” he told a graduation ceremony for army commandos.
Gen Al Burhan was speaking a day after the military said it had bloodlessly thwarted an attempted coup by 22 officers led by a general. Authorities said the coup was designed to derail the shift to democratic rule more than two years after dictator Omar Al Bashir was overthrown.
Gen Al Burhan lashed out at politicians, saying no single group can alone lead the vast Afro-Arab nation and calling on the pro-democracy groups behind the popular uprising against Al Bashir to unite for the sake of Sudan’s stability and democratic aspirations.
He also defended the military’s role as the nation’s guardian during the transitional period.
“We don’t have an elected government," he said. "We, in the military, safeguard the unity and security of Sudan as well as the dreams and future of our youths.
“Let us put our hands together and move forward to lay the foundations of a civilian democratic government chosen by the Sudanese people through elections."
Gen Al Burhan served politicians a stern reminder of the military’s might.
“Everything is in our hands,” he declared as he complained of attempts by the civilian-led government to marginalise the military. “My brothers, the politicians, we are the ones who foiled the coup. No one else did.
“The country is big enough for all of us; and, if we act in good faith, we can all live in peace.”
Prime Minister Abdalla Hamdok on Tuesday hinted at divisions between the military and civilian components of the transitional administration that took the reins of power in August 2019.
“The attempted coup requires a full and transparent review of the transition to arrive at a partnership based on the slogans and the principles of the revolution as well as a road that leads only to a democratic and civilian transition,” he said hours after news of the coup broke.
The military and civilian politicians have for months been at loggerheads, with each accusing the other of breaches of authority and being the cause of some of the country's many woes.
Many civilian politicians have complained that Gen Al Burhan was showing the tell-tale signs of a man with long-term political ambitions.
The generals, for their part, have repeatedly accused the government of incompetence, vying for personal gain and of unfairly demonising the military.
The commander of the Rapid Support Forces – a powerful paramilitary outfit led by Gen Al Burhan’s deputy on the Sovereign Council – was more blatant in his criticism of politicians when he addressed the same ceremony on Wednesday.
Gen Mohammed Hamdan Dagalo said politicians were indirectly responsible for the latest attempted coup.
“We in the armed forces receive incessant insults from those who claim to be our partners," he said. "So, no wonder that coups happen when the armed forces don’t get to be respected and appreciated.
“We said it and we will say it again today and tomorrow: we have no ambitions or are after personal gain. We only want our people to live in dignity. Political rivalries and ignoring the needs of the people are the root cause of coups."
Tuesday’s attempted coup underlined the fragility of democratic transition in a country where elected governments and the military have competed for power since independence in 1956.
Army generals seized power from civilian governments in 1958, 1969 and 1989, with the military spending more than 50 years in power. Beside those three successful coups, Sudan has experienced at least two dozen failed attempts, some involving bloodshed.
Tuesday’s attempted coup was the third to be announced by authorities since Al Bashir was overthrown 29 months ago.
It came as Mr Hamdok’s government grappled with a surge in street crime in Khartoum and other major cities and as most Sudanese struggled to cope with rising prices and shortages.
“The politicians have offered a window for coups because they neglected the life and basic services citizens need and became preoccupied with competing for positions of power,” Gen Dagalo said.
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
FIXTURES
Thursday
Dibba v Al Dhafra, Fujairah Stadium (5pm)
Al Wahda v Hatta, Al Nahyan Stadium (8pm)
Friday
Al Nasr v Ajman, Zabeel Stadium (5pm)
Al Jazria v Al Wasl, Mohammed Bin Zayed Stadium (8pm)
Saturday
Emirates v Al Ain, Emirates Club Stadium (5pm)
Sharjah v Shabab Al Ahli Dubai, Sharjah Stadium (8pm)
Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
The biog
First Job: Abu Dhabi Department of Petroleum in 1974
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work
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.”
TOURNAMENT INFO
Opening fixtures:
Friday, Oct 5
8pm: Kabul Zwanan v Paktia Panthers
Saturday, Oct 6
4pm: Nangarhar Leopards v Kandahar Knights
8pm: Kabul Zwanan v Balkh Legends
Tickets
Tickets can be bought online at https://www.q-tickets.com/apl/eventlist and at the ticket office at the stadium.
TV info
The tournament will be broadcast live in the UAE on OSN Sports.
COMPANY%20PROFILE
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MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
