Yasmine El Mouallem, co-founder of Maternally, an app for maternal mental health that won the grand prize at SBWC’s Pearl Quest competition. Photo: Yasmine El Mouallem
Yasmine El Mouallem, co-founder of Maternally, an app for maternal mental health that won the grand prize at SBWC’s Pearl Quest competition. Photo: Yasmine El Mouallem
Yasmine El Mouallem, co-founder of Maternally, an app for maternal mental health that won the grand prize at SBWC’s Pearl Quest competition. Photo: Yasmine El Mouallem
Yasmine El Mouallem, co-founder of Maternally, an app for maternal mental health that won the grand prize at SBWC’s Pearl Quest competition. Photo: Yasmine El Mouallem

Generation Start-up: how a UAE mental health app plans to ease 'supermum' pressures


Deena Kamel
  • English
  • Arabic

Yasmine El Mouallem talks to many new mothers in her role as a breastfeeding counsellor, on everything from caring for a newborn to managing sleep deprivation, but she noticed one glaring absence: they rarely speak about their mental well-being.

Many of her clients are often so engrossed in discussing the baby or trying to live up to impossible standards of being a perfect mother, that they barely pause to reflect on their mental state, let alone acknowledge potential issues, Ms El Mouallem says.

The Covid-19 pandemic further compounded the challenges of becoming a new mother, making it more mentally and emotionally taxing. During labour, many women had to go without the support of their spouses, family members or doulas, while others were separated from their newborns and were not allowed to breastfeed if they were Covid positive, she says.

Ms El Mouallem, a mother and a certified mental health first aider, realised there was a gap in the local market for mental well-being services for mothers and the idea for female-focused health technology start-up Maternally was born.

Scheduled for launch in June 2022, the app, which was also co-founded by Ramzi Qannati and Vijaysarathi Kallam, aims to provide mental well-being services to women through access to professional therapists, evidence-based articles and a social support network of other mothers. It caters to women's mental health needs from the moment they decide to conceive until two years post-partum.

"Our main goal is to normalise seeking mental health support, highlight the importance of maternal mental health and make it accessible," she says.

"We are not only trying to solve the mother's problem as an individual — if she's facing a problem it trickles down to the child, family, surroundings and work environment."

Managing their mental health allows women to raise healthy, well-adjusted children, which reflects positively on the larger society, she says.

The pandemic cast a spotlight on mental health tech start-ups globally, as disruptions to daily life and work, coupled with lockdown measures, triggered and accentuated stress.

Global funding for mental health tech start-ups reached $5.5 billion in 2021, more than doubling from $2.3bn in 2020, a report by market intelligence firm CB Insights showed. The majority of deals — 68 per cent — were in early stage start-ups, indicating room for further growth in the sector.

Calls for improving maternal mental health care are rising as the problems women face before, during and after pregnancy often go unrecognised, undiagnosed and untreated, according to Maternal Mental Health Alliance, a UK-based charity.

More than one in 10 women develop a mental health issue during pregnancy or in the early years of having a baby, with Covid-19 increasing the risks that expectant mothers face, it said.

If untreated, these issues can have a “devastating impact” on the women affected and their families. Issues range from post-partum depression, to breastfeeding difficulties, miscarriages, failed IVF treatments and obstetric violence.

Maternally will offer three different subscription packages, with prices ranging between $99 and $299 per month, depending on the number of therapy sessions.

After an initial session to determine the mother’s mental health needs, she is matched with the most suitable therapist for online sessions. Access to articles and the support network with other mothers is free.

The start-up aims to remove the stigma around mothers asking for help when they face mental health issues.

Healthcare systems usually focus on the physical aspects during and after the pregnancy, while social taboos discourage some women from seeking help for their mental health issues. Some women don't want to acknowledge an issue and others don't realise there is anything amiss, according to Ms El Mouallem.

"Many mothers don’t want to be seen going to a therapist, some are told it's not OK for someone in the family to see a therapist and I also heard a lot of religious or cultural reasons," she says.

"Many mothers don’t feel accepted sharing this feeling they have, even if it's a problem that can be solved easily."

Online access to professional help should encourage more women to overcome the stigma.

"When a mother feels like she doesn’t have to explain to anyone why or who she's talking to about her problems, this should encourage mothers to seek help ... It's positive thing for their treatment."

Ms El Mouallem understood the magnitude of the mental health challenges that mothers face during her breast-feeding consultation sessions. An overwhelmed new mother once revealed how her baby's constant crying made her feel she wanted to leave her child and spouse. Another mother who returned to work to do the job she loved talked about the guilt and sadness of leaving the baby at home.

Women who went through IVF treatments and others who had several miscarriages also faced challenging conditions.

"If someone has a physical disease, then it has to be taken care of. But if someone has a mental health issue, because we often can't see it or don't understand it, they have to deal with it on their own," she says.

An app designed for maternal mental health is the grand prize winner at SBWC’s Pearl Quest competition. Photo: Maternally
An app designed for maternal mental health is the grand prize winner at SBWC’s Pearl Quest competition. Photo: Maternally

The pandemic further highlighted pressures on new mothers.

"Being a first-time mother and maybe having Covid, if there was no family allowed in the room for support during labour, then the baby was taken away from her after delivery. I can't imagine what they've been through," Ms El Mouallem says. "Then after recovery they're expected to go home and deal with everything."

On top of this, society often has unrealistic expectations of how quickly and easily a mother should recover and take up her new role as a parent.

"She has all these hormones rushing through her, she undergoes labour, then she is expected to look normal, happy, healthy and be able to take care of the child without telling anyone, 'I am tired' or 'I can't do this'," Ms El Mouallem says.

"When she tries to discuss this with the family, she is told to ask God for forgiveness, that God has given her a gift and she's complaining about her situation and that she shouldn't complain."

Other triggers to seek help are the nature of the expatriate life in the UAE, where couples are often thousands of kilometres away from home and the support of their families.

"If they are missing a community support system, definitely mothers need this mental health support. They forget to take a break, to breathe," she says.

"When a mother tries to be a 'supermum' and take care of the baby 100 per cent but also exercise, jog, take the baby out in the stroller, do the chores — it's too much to do in the same time and she definitely needs support.

"She's trying to be a supermum, but it's not supposed to be like this. You're supposed to take care of yourself, to settle down, to go back to yourself or get to know this new person you’ve become."

Maternally will also include partners and extended family in the social networking sessions for discussions on how best to support mothers, Ms El Mouallem says.

The self-funded start-up, which was founded in Bahrain last year, will re-locate to the UAE after winning Dh100,000 in funding from the Sharjah Business Women Council in February.

The funds will be used to develop the app, hire staff and boost marketing.

The start-up plans to break even within 18 months of launching and sign up 2,000 subscribers by the end of 2023.

Company Profile

Name: Maternally

Co-founders: Yasmine El Mouallem, Ramzi Qannati, Vijaysarathi Kallam

Date started: October 2021

Based: UAE and Bahrain

Sector: FemTech, mental health and well-being

Size: Three co-founders

Investment stage: Boot-strapped/self-funded with Dh100,000 grant from Sharjah Business Women Council

Q&A with Maternally's co-founder Yasmine El Mouallem

1. What new skills have you learnt while launching your start-up?

An important skill was pitching and storytelling. I realised the importance of sharing our story to convey the message and also understand our audience to resonate and engage with them more effectively.

2. How has the pandemic affected your business plans?

During the pandemic, I joined a few colleagues in the field of maternal care and we started a support group where I offered free online breastfeeding counselling and emotional support sessions. The pandemic revealed how high the demand for mental health care is, which not only validated our assumptions on the underlying problem, but also helped tweak some features based on the research we conducted with mothers and practitioners.

3. How important are mental well-being services during the pandemic?

Very important. The pandemic presented two alarming challenges. The first is the large number of people who had a mental health disorder during this time. The second challenge was how maternal mental health often went undetected, and therefore untreated, which was the first reason we started this journey. We strongly believe that it takes more than one company, media outlet, government or even nation to address a challenge of this magnitude. Only by having complete synchronicity from all stakeholders will we be able to move the needle.

On the brighter side, the pandemic also accelerated the digital transformation of the healthcare sector and today teletherapy is widely available and used. I believe that technology will continue enabling a wider part of society to have access to care that suits their specific needs offering flexibility, affordability — in some cases — and availability in their language.

4. What are the credentials of the psychotherapists on the platform and how are they verified?

We will look into partnering with healthcare providers that are certified and/or licensed in the jurisdiction.

5. How does your experience as a mother influence Maternally?

I know that it is expected from a mother to take care of her newborn and prioritise the baby’s needs over anything else. We, at Maternally, want her to know that she is also important, she matters and her mental health is a priority.

6. How is your product different from the plethora of resources available online/offline for mothers?

When we look at the competitive landscape, we identified three different categories in the ecosystem covering mental health care, self-care, social support, and therapy and counselling. Maternally will cover this entire scope as a mother-dedicated app.

THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Five personal finance podcasts from The National

 

To help you get started, tune into these Pocketful of Dirham episodes 

·

Balance is essential to happiness, health and wealth 

·

What is a portfolio stress test? 

·

What are NFTs and why are auction houses interested? 

·

How gamers are getting rich by earning cryptocurrencies 

·

Should you buy or rent a home in the UAE?  

UAE%20athletes%20heading%20to%20Paris%202024
%3Cp%3E%3Cstrong%3EEquestrian%3C%2Fstrong%3E%3Cbr%3EAbdullah%20Humaid%20Al%20Muhairi%2C%20Abdullah%20Al%20Marri%2C%20Omar%20Al%20Marzooqi%2C%20Salem%20Al%20Suwaidi%2C%20and%20Ali%20Al%20Karbi%20(four%20to%20be%20selected).%3Cbr%3E%3Cstrong%3EJudo%3C%2Fstrong%3E%3Cbr%3EMen%3A%20Narmandakh%20Bayanmunkh%20(66kg)%2C%20Nugzari%20Tatalashvili%20(81kg)%2C%20Aram%20Grigorian%20(90kg)%2C%20Dzhafar%20Kostoev%20(100kg)%2C%20Magomedomar%20Magomedomarov%20(%2B100kg)%3B%20women's%20Khorloodoi%20Bishrelt%20(52kg).%3Cbr%3E%3Cbr%3E%3Cstrong%3ECycling%3C%2Fstrong%3E%3Cbr%3ESafia%20Al%20Sayegh%20(women's%20road%20race).%3Cbr%3E%3Cbr%3E%3Cstrong%3ESwimming%3C%2Fstrong%3E%3Cbr%3EMen%3A%20Yousef%20Rashid%20Al%20Matroushi%20(100m%20freestyle)%3B%20women%3A%20Maha%20Abdullah%20Al%20Shehi%20(200m%20freestyle).%3Cbr%3E%3Cbr%3E%3Cstrong%3EAthletics%3C%2Fstrong%3E%3Cbr%3EMaryam%20Mohammed%20Al%20Farsi%20(women's%20100%20metres).%3C%2Fp%3E%0A
Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%204-cylinder%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ECVT%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E119bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E145Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh%2C89%2C900%20(%2424%2C230)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
The%20Afghan%20connection
%3Cp%3EThe%20influx%20of%20talented%20young%20Afghan%20players%20to%20UAE%20cricket%20could%20have%20a%20big%20impact%20on%20the%20fortunes%20of%20both%20countries.%20Here%20are%20three%20Emirates-based%20players%20to%20watch%20out%20for.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EHassan%20Khan%20Eisakhil%3C%2Fstrong%3E%0D%3Cbr%3EMohammed%20Nabi%20is%20still%20proving%20his%20worth%20at%20the%20top%20level%20but%20there%20is%20another%20reason%20he%20is%20raging%20against%20the%20idea%20of%20retirement.%20If%20the%20allrounder%20hangs%20on%20a%20little%20bit%20longer%2C%20he%20might%20be%20able%20to%20play%20in%20the%20same%20team%20as%20his%20son%2C%20Hassan%20Khan.%20The%20family%20live%20in%20Ajman%20and%20train%20in%20Sharjah.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EMasood%20Gurbaz%3C%2Fstrong%3E%0D%3Cbr%3EThe%20opening%20batter%2C%20who%20trains%20at%20Sharjah%20Cricket%20Academy%2C%20is%20another%20player%20who%20is%20a%20part%20of%20a%20famous%20family.%20His%20brother%2C%20Rahmanullah%2C%20was%20an%20IPL%20winner%20with%20Kolkata%20Knight%20Riders%2C%20and%20opens%20the%20batting%20with%20distinction%20for%20Afghanistan.%0D%3Cbr%3E%20%0D%3Cbr%3E%3Cstrong%3EOmid%20Rahman%3C%2Fstrong%3E%0D%3Cbr%3EThe%20fast%20bowler%20became%20a%20pioneer%20earlier%20this%20year%20when%20he%20became%20the%20first%20Afghan%20to%20represent%20the%20UAE.%20He%20showed%20great%20promise%20in%20doing%20so%2C%20too%2C%20playing%20a%20key%20role%20in%20the%20senior%20team%E2%80%99s%20qualification%20for%20the%20Asia%20Cup%20in%20Muscat%20recently.%0D%3Cbr%3E%3C%2Fp%3E%0A
Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

UAE v United States, T20 International Series

Both matches at ICC Academy, Dubai. Admission is free.

1st match: Friday, 2pm

2nd match: Saturday, 2pm

UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Rameez Shahzad, Amjad Gul, CP Rizwan, Mohammed Boota, Abdul Shakoor, Ahmed Raza, Imran Haider, Sultan Ahmed, Zahoor Khan, Amir Hayat

USA squad: Saurabh Netravalkar (captain), Jaskaran Malhotra, Elmore Hutchinson, Aaron Jones, Nosthush Kenjige, Ali Khan, Jannisar Khan, Xavier Marshall, Monank Patel, Timil Patel, Roy Silva, Jessy Singh, Steven Taylor, Hayden Walsh

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20HyveGeo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Abdulaziz%20bin%20Redha%2C%20Dr%20Samsurin%20Welch%2C%20Eva%20Morales%20and%20Dr%20Harjit%20Singh%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECambridge%20and%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ESustainability%20%26amp%3B%20Environment%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%24200%2C000%20plus%20undisclosed%20grant%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVenture%20capital%20and%20government%3C%2Fp%3E%0A
Law%2041.9.4%20of%20men%E2%80%99s%20T20I%20playing%20conditions
%3Cp%3EThe%20fielding%20side%20shall%20be%20ready%20to%20start%20each%20over%20within%2060%20seconds%20of%20the%20previous%20over%20being%20completed.%0D%3Cbr%3EAn%20electronic%20clock%20will%20be%20displayed%20at%20the%20ground%20that%20counts%20down%20seconds%20from%2060%20to%20zero.%0D%3Cbr%3EThe%20clock%20is%20not%20required%20or%2C%20if%20already%20started%2C%20can%20be%20cancelled%20if%3A%0D%3Cbr%3E%E2%80%A2%09A%20new%20batter%20comes%20to%20the%20wicket%20between%20overs.%0D%3Cbr%3E%E2%80%A2%09An%20official%20drinks%20interval%20has%20been%20called.%0D%3Cbr%3E%E2%80%A2%09The%20umpires%20have%20approved%20the%20on%20field%20treatment%20of%20an%20injury%20to%20a%20batter%20or%20fielder.%0D%3Cbr%3E%E2%80%A2%09The%20time%20lost%20is%20for%20any%20circumstances%20beyond%20the%20control%20of%20the%20fielding%20side.%0D%3Cbr%3E%E2%80%A2%09The%20third%20umpire%20starts%20the%20clock%20either%20when%20the%20ball%20has%20become%20dead%20at%20the%20end%20of%20the%20previous%20over%2C%20or%20a%20review%20has%20been%20completed.%0D%3Cbr%3E%E2%80%A2%09The%20team%20gets%20two%20warnings%20if%20they%20are%20not%20ready%20to%20start%20overs%20after%20the%20clock%20reaches%20zero.%0D%3Cbr%3E%E2%80%A2%09On%20the%20third%20and%20any%20subsequent%20occasion%20in%20an%20innings%2C%20the%20bowler%E2%80%99s%20end%20umpire%20awards%20five%20runs.%0D%3Cbr%3E%3C%2Fp%3E%0A
The specs
Engine: 3.0-litre twin-turbo flat-six

Power: 480hp at 6,500rpm

Torque: 570Nm from 2,300-5,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 10.4L/100km

Price: from Dh547,600

On sale: now 

UAE SQUAD

UAE team
1. Chris Jones-Griffiths 2. Gio Fourie 3. Craig Nutt 4. Daniel Perry 5. Isaac Porter 6. Matt Mills 7. Hamish Anderson 8. Jaen Botes 9. Barry Dwyer 10. Luke Stevenson (captain) 11. Sean Carey 12. Andrew Powell 13. Saki Naisau 14. Thinus Steyn 15. Matt Richards

Replacements
16. Lukas Waddington 17. Murray Reason 18. Ahmed Moosa 19. Stephen Ferguson 20. Sean Stevens 21. Ed Armitage 22. Kini Natuna 23. Majid Al Balooshi

India squad

Virat Kohli (captain), Rohit Sharma, Mayank Agarwal, K.L. Rahul, Shreyas Iyer, Manish Pandey, Rishabh Pant, Shivam Dube, Kedar Jadhav, Ravindra Jadeja, Yuzvendra Chahal, Kuldeep Yadav, Deepak Chahar, Mohammed Shami, Shardul Thakur.

ELECTION%20RESULTS
%3Cp%3EMacron%E2%80%99s%20Ensemble%20group%20won%20245%20seats.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20second-largest%20group%20in%20parliament%20is%20Nupes%2C%20a%20leftist%20coalition%20led%20by%20Jean-Luc%20Melenchon%2C%20which%20gets%20131%20lawmakers.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20far-right%20National%20Rally%20fared%20much%20better%20than%20expected%20with%2089%20seats.%3C%2Fp%3E%0A%3Cp%3EThe%20centre-right%20Republicans%20and%20their%20allies%20took%2061.%3C%2Fp%3E%0A
World Sevens Series standing after Dubai

1. South Africa
2. New Zealand
3. England
4. Fiji
5. Australia
6. Samoa
7. Kenya
8. Scotland
9. France
10. Spain
11. Argentina
12. Canada
13. Wales
14. Uganda
15. United States
16. Russia

if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street

The seven points are:

Shakhbout bin Sultan Street

Dhafeer Street

Hadbat Al Ghubainah Street (outbound)

Salama bint Butti Street

Al Dhafra Street

Rabdan Street

Umm Yifina Street exit (inbound)

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.”

Updated: April 23, 2025, 12:25 PM