Gender pay reporting becomes business risk

Gender pay reporting becomes business risk

Gender pay reporting becomes business risk

As many will have noticed, organisations reporting their gender pay gap statistics have been creating negative headlines in the press. As businesses attempt to reduce their gender pay gap, it is important to understand the risks that this can present. UK employers with 250 or more employees have until 4 April 2018 to publish their gender pay gap figures on…

African Insurance Awards 2018 launched

African Insurance Awards 2018 launched

African Insurance Awards 2018 launched

The African Reinsurance Corporation (Africa Re) has launched the fourth edition of the prestigious African Insurance Awards, celebrating the performance of CEOs and companies in the insurance sector. The African Insurance Awards aim to reward and celebrate the best performers and achievers in the African insurance industry, to identify and stimulate distinctive innovations, encourage sustainable growth in terms of insurance…

Corporates relief as South Africa goes for tax balance

Corporates relief as South Africa goes for tax balance

Corporates relief as South Africa goes for tax balance

After increasing concern among corporates about the risk of much higher taxes in South Africa, there has been a collective sigh of relief as finance minister Malusi Gigaba found a balance between raising taxes on the wealthy, broadening the tax base and providing a safety net for the poor. The rand appreciated somewhat and bond yields traded lower soon after…

IMF programmes in Africa and the implications for creditworthiness

IMF programmes in Africa and the implications for creditworthiness

IMF programmes in Africa and the implications for creditworthiness

The increased involvement of the International Monetary Fund (IMF) in Africa for the last two years has alleviated short-term liquidity pressures and contributed to the design and implementation of adjustment policies to address macroeconomic imbalances, according to ratings agency Fitch. However, in a new report, it warns that the long-term impact of IMF programmes on creditworthiness is less certain, as…

Unemployment tops risk list for South Africa

Unemployment tops risk list for South Africa

Unemployment tops risk list for South Africa

Structurally-high unemployment and underemployment tops the risk list for 2018 in South Africa, according to the 2018 Risk Report from the Institute of Risk Management South Africa (IRMSA). Also in its top ten list of risk by impact, revealed today, are unmanageable fraud and corruption, failure of governance, government policy, macroeconomic developments and profound political instability. In terms of most…

Don’t miss out on a trip to Europe

Don’t miss out on a trip to Europe

Don’t miss out on a trip to Europe

Make sure you complete the 2018 risk management survey for risk managers across Africa in order to be automatically entered into the draw to win a trip to Europe.* Our annual Risk Frontiers Africa report has become a must-read for all risk and insurance industry professionals with an interest in Sub Saharan Africa. The report is compiled from extensive interaction…

Nigerians set for more electricity

Nigerians set for more electricity

Nigerians set for more electricity

With some 80% of Nigerians reportedly not having direct access to electricity, the World Bank has approved an investment to the equivalent of $486m for rehabilitation and upgrading of electricity transmission substations and lines.   The measures that will be implemented through 2021 are aimed at improving transparency and service delivery and re-establishing investor confidence in the sector. The investments under…

Nat cats drive costly losses in South Africa

Nat cats drive costly losses in South Africa

Nat cats drive costly losses in South Africa

A number of large losses and natural catastrophes (nat cats), with heavy storms, floods, drought and fires, have contributed to challenging times for South African insurers. At the same time, South Africa is suffering from a weak economy driven by political uncertainty as an election year approaches. This uncertainty continues to undermine business and consumer confidence. “On the whole, we…

Shell wins latest Nigerian court case

Shell wins latest Nigerian court case

Shell wins latest Nigerian court case

Oil major Shell has defeated the latest legal bid by thousands of Nigerians to have damages claims over pollution dealt with by the English courts. Last year, a judge in London ruled any compensation actions by two Nigerian communities affected by oil spills would have to be heard in Nigeria. The communities challenged the decision but now that has been dismissed.…

Confidence is a major risk factor

Confidence is a major risk factor

Confidence is a major risk factor

Confidence among businesses and consumers can make or break economies and should be factored into any risk approach, according to Craig Kiggen, regional head: Kloof KZN, Citadel. As South Africa grapples with the changeover between President Zuma and ANC leader-elect Cyril Ramaphosa, Mr Ramaphosa said: “A restoration of confidence is the quickest and cheapest form of stimulus available.” South Africa’s…

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