Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, receives Cyril Ramaphosa, President of South Africa at the Presidential Airport. Mohamed Al Hammadi / Crown Prince Court
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, receives Cyril Ramaphosa, President of South Africa at the Presidential Airport. Mohamed Al HaShow more

Strong ties with a revitalised South Africa are mutually-beneficial



For nine years under Jacob Zuma, South Africa’s dynamic economy – the envy of much of the continent – was suffocated by corruption.

Mr Zuma's removal in February after a bruising struggle within the ruling ANC, motivated as much by electoral imperatives as higher notions of right and wrong, marked a watershed moment for South Africa.

The task of revitalisation fell to his successor, President Cyril Ramaphosa – a darling of the anti-apartheid movement turned fantastically-successful businessman. Despite Mr Ramaphosa's sincere anti-corruption drive, it has proved a challenge of significant proportions.

Indeed, in the first three months of 2018, the South African economy suffered its worst quarterly contraction in years. Declines were felt in the key sectors of mining, agriculture and manufacturing, while unemployment stands today at a disconcerting 26.7 per cent.

Faced with such an outlook, the president is looking abroad for investment in Africa’s most industrialised economy.

And last week Mr Ramaphosa completed a fruitful visit to the GCC. In Saudi Arabia, he secured $10 billion of investment with a focus on energy, as well as commitments to increase trade and joint investments.

On Friday, he visited Abu Dhabi, where bilateral talks reaffirmed a commitment to co-operation on trade, mining, culture and infrastructure development. It built on already strong ties embodied by the joint commission between the UAE and South Africa, which meets annually.

Mr Ramaphosa has embarked on a drive to entice $100bn in investments in Africa’s second largest economy over the next five years. Certainly economic collaboration with its prosperous Gulf allies is central to that effort.

But as is customary with UAE foreign policy, strong ties with a revitalised and evolving South Africa are of considerable mutual benefit. At times a beacon for its continent, South Africa is the only African nation in the G20.

As a result, it makes for a good launch-pad for wider investment on the continent, which the UAE is already pursuing with fervour.

For the UAE, peace, stability and prosperity are interdependent. South Africa, emerging from the tumultuous Zuma years, makes for an excellent strategic partner. Its renewal will not be instantaneous, but strong political and economic ties with Pretoria will stand the UAE in excellent stead in the future.

Gender pay parity on track in the UAE

The UAE has a good record on gender pay parity, according to Mercer's Total Remuneration Study.

"In some of the lower levels of jobs women tend to be paid more than men, primarily because men are employed in blue collar jobs and women tend to be employed in white collar jobs which pay better," said Ted Raffoul, career products leader, Mena at Mercer. "I am yet to see a company in the UAE – particularly when you are looking at a blue chip multinationals or some of the bigger local companies – that actively discriminates when it comes to gender on pay."

Mr Raffoul said most gender issues are actually due to the cultural class, as the population is dominated by Asian and Arab cultures where men are generally expected to work and earn whereas women are meant to start a family.

"For that reason, we see a different gender gap. There are less women in senior roles because women tend to focus less on this but that’s not due to any companies having a policy penalising women for any reasons – it’s a cultural thing," he said.

As a result, Mr Raffoul said many companies in the UAE are coming up with benefit package programmes to help working mothers and the career development of women in general. 

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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
Asia Cup 2018 Qualifier

Sunday's results:

  • UAE beat Malaysia by eight wickets
  • Nepal beat Singapore by four wickets
  • Oman v Hong Kong, no result

Tuesday fixtures:

  • Malaysia v Singapore
  • UAE v Oman
  • Nepal v Hong Kong
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners