Bringing corporate governance principles to life

Bringing corporate governance principles to life

Bringing corporate governance principles to life

The leading roles of the corporate governance and risk management fraternities in South Africa were yet again demonstrated, by the recent award of the IRMSA Risk Influencer of the Year 2017 to the King Committee on Corporate Governance at the Institute of Directors Southern Africa. Not only do we lead in our respective disciplines, but the award further demonstrates the…

New Tanzanian mining law creates new risks and challenges

New Tanzanian mining law creates new risks and challenges

New Tanzanian mining law creates new risks and challenges

Earlier this year, the new Tanzanian government passed mining legislation aimed at what it described as safeguarding the nation against international exploitation of its mineral resources. These amendments to the Mining Act 2010 have resulted in the government being entitled to own (at the very least) a stake in mining projects operating in the country, as well as expansive powers to renegotiate…

African reinsurance market offers opportunity despite challenges

African reinsurance market offers opportunity despite challenges

African reinsurance market offers opportunity despite challenges

The African reinsurance and insurance markets continue to offer opportunities, despite the challenges, according to Corneille Karekezi, group managing director and CEO of Africa Re. Speaking at the 22nd African Reinsurance Forum in Balaclava, Mauritius, Mr Karekezi said: “The African reinsurance industry has witnessed significant growth in the last decade, with the number of African-owned reinsurers rising from 20 in…

Political risk still a threat

Political risk still a threat

Political risk still a threat

As I write this, Kenyans have been to the polls (or not) in a re-run of the August presidential elections. Political risk remains one of the great challenges for all businesses across the continent, and the Kenya election saga has shown exactly why. Back in August, there was a major sigh of relief as the elections seemed to go off…

Agri innovation and Africa’s big risk

Agri innovation and Africa’s big risk

Agri innovation and Africa’s big risk

Food security is no longer just an ethical issue, but something deserving attention in any comprehensive risk strategy. With the age of African innovation in full swing, agrifinance products are worth paying attention to. Risk management has come a long way since fighting its way into boardrooms and onto agendas six years ago. In a mad world of rapid changes, risk management…

Keeping the trade links working

Keeping the trade links working

Keeping the trade links working

China has been South Africa’s largest trading partner in recent years and the South African government has made no secret of how importantly it regards this trade route – even though to date, it seems a slightly imbalanced arrangement. However, as this trade bond develops, it is not uncommon that insurers find themselves dealing with subrogated claims with elements of…

Court calls halt to action on Libyan bribery claims

Court calls halt to action on Libyan bribery claims

Court calls halt to action on Libyan bribery claims

This time last year, the UK High Court rejected a claim by the Libyan Investment Authority (LIA) that dealings between it and Goldman Sachs (GSI) crossed the line from an ordinary arm’s length bank-customer relationship to a relationship that gave rise to duties of candour and fairness. It held that, in the absence of any such protected relationship: 1) GSI…

Ignore stakeholders at your peril

Ignore stakeholders at your peril

Ignore stakeholders at your peril

Recent local and international headlines have been explosive in their exposure of the involvement of large organisations in the perpetuation of political instability and increased racial tensions in South Africa. In just the past few weeks, KPMG, McKinsey, SAP, Software AG, Eskom, Transnet, SAA, SABC and Trillian are just a few examples where the trust between organisations and their stakeholders…

Dramatic expansion of US sanctions on North Korea

Dramatic expansion of US sanctions on North Korea

Dramatic expansion of US sanctions on North Korea

On 21 September 2017, the US dramatically expanded the scope of US sanctions that apply to those who do business with North Korea. These new sanctions target not only foreign companies that trade with North Korea, but also the foreign financial institutions (FFIs) that finance such trade. Companies that trade with North Korea, or that have an interest in trading…

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