One of the newborn addax calves with its mother in Chad. Courtesy: Environment Agency - Abu Dhabi
One of the newborn addax calves with its mother in Chad. Courtesy: Environment Agency - Abu Dhabi
One of the newborn addax calves with its mother in Chad. Courtesy: Environment Agency - Abu Dhabi
One of the newborn addax calves with its mother in Chad. Courtesy: Environment Agency - Abu Dhabi

Environment

Calves born into Abu Dhabi addax herd in Chad

The majestic antelope was on the brink of extinction in the wild

Anna Zacharias

July 16, 2020

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The first wild-born addax antelope from an Abu Dhabi herd has been born in Chad.

A second calf was born two days later.

The calves are part of a herd of 15 addax (Addax nasomaculatus) released in Chad by Environment Agency - Abu Dhabi.

The agency flew 15 captive-bred addax from the UAE to the Ouadi Rimé-Ouadi Achim Game Reserve in late 2019.

The birth of the two calves is a sign that the herd is adjusting well to life in the wild.

A calf with its mother. Environment Agency - Abu Dhabi
A calf with its mother. Environment Agency - Abu Dhabi

“These births are truly a reason to celebrate as the Addax is one of the rarest mammals on earth and on the verge of extinction in the wild,” said Dr Shaikha Al Dhaheri,  the agency’s secretary general.

“According to an estimate, there are fewer than 100 Addax left in the wild in fragmented populations across their former range and not much is known about them.

"Hence this newborn calf is a major milestone and gives renewed hope to a species that desperately needs immediate conservation action to protect the remaining populations in the wild.”

With its large hooves and light coat, the antelope is perfectly adapted to survive in the Sahara and once roamed across North Africa.

A second calf was born within two days. Environment Agency - Abu Dhabi
A second calf was born within two days. Environment Agency - Abu Dhabi

But its spectacular spiraled horns made it a target for poachers.

Regional insecurity and oil activities pushed the wild population to extinction and by 2016, there were just three addax left in the wild.

The release of captive-bred addax is part of an agreement with Chad to restore endangered species.

In March, a second group of 25 addax were transported to Chad from Abu Dhabi, as well as an additional 25 scimitar-horned oryx.

They will be released after the summer rains when conditions are best for the herd to adapt to their new surroundings.

The reintroduced wild population of the scimitar-horned oryx has reached 288, following the birth of 33 calves this year.

The agency noted the reintroduced oryx and addax herds are thriving, thanks to the support of partners including the Sahara Conservation Fund, the Smithsonian Conservation Biology Institute and the Zoological Society of London.

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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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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