HARARE // From supporting water and wildlife-based tourism in eight countries and thriving agriculture along its banks to providing points for hydroelectrical power generation, the Zambezi River is the most shared natural resource in southern Africa. But it is in danger from the ravages of climate change, a report released in September warns.
"The Zambezi River Basin, like the rest of Southern Africa, is facing serious impacts of climate change," says the report by Harare-based Southern African Research and Documentation Centre (SARDC).
The 1.4 million square kilometre basin covers parts of Angola, Botswana, Malawi, Mozambique, Namibia, Zambia, Tanzania and Zimbabwe where it supports 40 million people.
The report pointed out that the basin is rich in human, social, political, economic, natural and ecological diversity and has high potential for agriculture, fisheries, forestry, tourism, wildlife and hydroelectric power generation.
It offers a wide range of tourist attractions such as the Victoria Falls and has at least five wildlife parks on its banks.
Kariba and Cahora Bassa dams on the Zimbabwe-Zambia border and in Mozambique, respectively, offer two of the region's largest hydroelectric power plants, which light up most of southern Africa. The report says climate change is damaging wildlife habitats and the flow of the Zambezi, which could hamper energy generation and the splendour of the Victoria Falls, also known as Mosi-Oa-Tunya (the smoke that thunders).
Edline Tauya, a SARDC researcher, said climate change had already reduced river flow of Africa's longest river, which in turn had lowered the smoking sight of the Victoria Falls, making it less attractive. "Regional tourism will be affected greatly, because the basin drives that industry," she said.
Kenneth Msibi, a water policy and strategy expert for the Southern African Development Community (SADC), told a Zambezi Basin stakeholders' meeting in Malawi last November that the Zambezi was the worst-affected basin in the world.
Frequent floods and intense droughts are expected to become more frequent, he said.
The SADC report forecasts an increase in the occurrence of vector-borne diseases such as malaria and dengue fever because of changes in temperature and rainfall patterns induced by climate change.
The changed weather patterns could also negatively impact on food production and security because of droughts, desertification, flooding and dwindling rains.
"By 2100, changes in temperature and precipitation could alter the geographical distribution of malaria in the basin, with areas of dense human population becoming suitable for transmission.
Occurrences of water-borne diseases such as cholera and dysentery, while common to the Zambezi River Basin, may also increase due to climate change," the report says.
Emmanuel Fundira, a local tourism operator, said it was regrettable that countries in the developed world are the biggest contributors to climate change, yet Africa, the smallest contributor to that phenomenon, is the worst affected.
"What we have to do is to adapt to the impact of climate change," he said. "We must emphasise on recovering the environment, not simply to extract value from it."
He said during a recent visit by a high-level delegation from the United Nations World Tourism Organisation, local operators asked for technical assistance from the global body, to establish green zones - areas where environmental preservation shares centre stage with the quest for profit. "The local tourism sector has broadened its rating system for hotels and lodges beyond service to guests and facilities," said Mr Fundira, also president of the Zimbabwe Council for Tourism.
"Walk into any lodge or hotel, you will find that in addition to the traditional stars we were used to, you will see green stars, which rate each establishment's programmes for ecological conservation. It is becoming a global practice anyway, whereby for instance, if a tour operator is bidding for international financial assistance, his or her application is considered, among other factors, against the carbon credits the operator has.
"The more carbon credits, the more likely you are to get the funding. We want to try as much as we can to adapt to the changing environment, as well as raise our programmes to mitigate climate change."
foreign.desk@thenational.ae
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
BEACH SOCCER WORLD CUP
Group A
Paraguay
Japan
Switzerland
USA
Group B
Uruguay
Mexico
Italy
Tahiti
Group C
Belarus
UAE
Senegal
Russia
Group D
Brazil
Oman
Portugal
Nigeria
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.”
If you go
The flights
The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings
The stay
Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
Other ways to buy used products in the UAE
UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.
Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.
Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.
For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.
Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.
At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Sour%20Grapes
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