Electricity supply in Syria has improved since the overthrow of its former dictator Bashar Al Assad last December ended nearly 14 years of civil war, but the recovery remains uneven, according to a report released this week.
The Mercy Corps Crisis Analysis - Syria report, relied on analysis of satellite imagery of night light reflectance (NLR), which measures the amount of light emitted from different areas at night, as well as data on sources of electricity and daily hours of supply from surveys conducted by Reach.
The report noted that following the installation of a transitional government by former rebel forces, efforts to restore Syria’s electricity supply have received strong support from Turkey and Gulf states, as well as a boost with the first deliveries last month of natural gas from Azerbaijan for its power plants.
In June, the World Bank approved a $146 million grant to restore transmission lines, substations and high-voltage transformer substations, and provide capacity building support to institutions managing the electricity sector. These investments should boost generation and extend daily hours of supply, which was between two to six hours per day for most communities in April, the report said.
According to estimates by the International Energy Agency (IEA) and the World Bank, electricity consumption in Syria decreased from an average of 1,611 kilowatt-hours (kWh) per capita in 2010, the year before the war started, to 690 kWh per capita in 2022.
Syria’s electricity sector was already struggling to keep pace with demand before the uprising against Assad family rule began in 2011, as a result of lack of investment and maintenance of power plants and the electricity grid. During the war, fighting damaged or destroyed major power plants, and transmission infrastructure.
The fragmentation of the country into government-controlled areas and those controlled by various groups also affected distribution. This led to increased reliance on generators and solar power in some areas, such as the autonomously run north-east, or on external support, such as the rebel-held north-west, which turned to Turkey for its power supply and distribution system.
In the post-Assad era, connectivity to the electricity grid as well as political factors have also played a role in which areas have showed the greatest improvement in power supply, according to the report.
In Deir Ezzor governorate, there was improvement in 84 per cent of sites in areas that remained under the control of the Assad regime and are now under the government in Damascus, it said. In comparison, there was improvement in only 62 per cent of sites in areas under the Kurdish-led north-eastern administration, which has resisted ceding control to the new government.
“The gap illustrates how access to electricity infrastructure is contingent not just on where lines run, but on whether political arrangements facilitate or constrain their use,” it said.
The report also found that electricity consumption grew at a slower pace “in regions with nominal grid connectivity but which had experienced violent conflict since the fall of the Assad regime”, particularly Damascus, Latakia, Tartus and Sweida.
“Among these regions, Sweida is likely most at risk of being excluded from improvements to Syria’s electricity capacity due to persistent political rifts with the new government,” it said.
RESULTS
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Draw:
Group A: Egypt, DR Congo, Uganda, Zimbabwe
Group B: Nigeria, Guinea, Madagascar, Burundi
Group C: Senegal, Algeria, Kenya, Tanzania
Group D: Morocco, Ivory Coast, South Africa, Namibia
Group E: Tunisia, Mali, Mauritania, Angola
Group F: Cameroon, Ghana, Benin, Guinea-Bissau
SPECS
%3Cp%3E%3Cstrong%3EEngine%3C%2Fstrong%3E%3A%202-litre%20direct%20injection%20turbo%20%0D%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%207-speed%20automatic%20%0D%3Cbr%3E%3Cstrong%3EPower%3C%2Fstrong%3E%3A%20261hp%20%0D%3Cbr%3E%3Cstrong%3ETorque%3C%2Fstrong%3E%3A%20400Nm%20%0D%3Cbr%3E%3Cstrong%3EPrice%3C%2Fstrong%3E%3A%20From%20Dh134%2C999%26nbsp%3B%3C%2Fp%3E%0A
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
Size: 36 employees
Funding: Privately funded
THE SPECS
Aston Martin Rapide AMR
Engine: 6.0-litre V12
Transmission: Touchtronic III eight-speed automatic
Power: 595bhp
Torque: 630Nm
Price: Dh999,563
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.”
Asia%20Cup%202022
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Racecard
6.35pm: American Business Council – Maiden (PA) Dh80,000 (Dirt) 1,600m
7.10pm: British Business Group – Maiden (TB) Dh82,500 (D) 1,200m
7.45pm: CCI France UAE – Handicap (TB) Dh87,500 (D) 1,400m
8.20pm: Czech Business Council – Rated Conditions (TB) Dh105,000 (D) 1,400m
8.55pm: Netherlands Business Council – Rated Conditions (TB) Dh95,000 (D) 1,600m
9.30pm: Indian Business and Professional Council – Handicap (TB) Dh95,000 (D) 1,200m
UAE%20Warriors%2045%20Results
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