Mercer opens new hub in Casablanca

Mercer opens new hub in Casablanca

Mercer opens new hub in Casablanca

Mercer, a consultant in health, wealth and career, is expanding its francophone Africa footprint. It has plans to strengthen service to the francophone region of Africa, through its new Casablanca Financial City hub in Morocco. Mercer, a wholly owned subsidiary of Marsh & McLennan, will bolster its health business and further penetrate the African market with wealth and career solutions.…

Fitch affirms both Cameroon and Tunisia, but political risks remain

Fitch affirms both Cameroon and Tunisia, but political risks remain

Fitch affirms both Cameroon and Tunisia, but political risks remain

Fitch Ratings has affirmed Cameroon’s long-term foreign-currency issuer default rating (IDR) at B with a stable outlook and has affirmed Tunisia’s IDRs at B+, also with a stable outlook. In both countries, political risks still loom large, said Fitch. In Cameroon, uncertainty surrounding succession to the 84-year-old President Paul Biya is a political risk. Presidential elections are set to take place…

Fitch warns insurers to remain cautious over cyber growth

Fitch warns insurers to remain cautious over cyber growth

Fitch warns insurers to remain cautious over cyber growth

Insurers that aggressively grow their cyber risk liabilities are likely to fall foul of ratings agencies, according to Fitch Ratings. Following a conference on cyber insurance in New York, Fitch said cyber insurance business would be credit-neutral for most underwriters, but it added that a high concentration of cyber risk, or rapid growth, would outweigh the earnings benefits of accessing…

Catastrophes demand more sophisticated risk engineering programmes

Catastrophes demand more sophisticated risk engineering programmes

Catastrophes demand more sophisticated risk engineering programmes

Risk managers and insurers are coming under increasing pressure to revise their approach to cope with an increase in natural catastrophes in South Africa. In the past couple of years, South Africa has been hit by tornados, flash floods, freak hailstorms, deluge, drought and fires, with the last five years in particular racking up billions of rands in damages and…

Insurance provides added support in wake of natural catastrophes

Insurance provides added support in wake of natural catastrophes

Insurance provides added support in wake of natural catastrophes

New insurance mechanisms are emerging for Africa as the world grapples with the aftermath of natural catastrophes and as the risks associated with climate change come into sharper focus. This month, the German city of Bonn will be the venue for the United Nations Climate Change Conference (COP23). Playing host at the event, however, is the small island state of Fiji.…

China-Africa: will the marriage of convenience last?

China-Africa: will the marriage of convenience last?

China-Africa: will the marriage of convenience last?

Africa’s dependency on China has increased significantly in the past ten years, but credit insurer Coface has been asking if the relationship can last. “Action movie Wolf Warrior 2, released in July 2017, became the first non-Hollywood movie to break into the top 100 highest-grossing films, portraying China as Africa’s protector,” it said. And just four days after the movie’s…

New renewables push for Africa promised

New renewables push for Africa promised

New renewables push for Africa promised

KfW, the German Development Bank, and the AfricanTrade Insurance Agency (ATI) are launching a new instrument to support renewable energy projects in Sub Saharan Africa, which will combine funding and insurance backing. The facility will support projects that target small- and mid-scale (up to 50MW) green power renewable energy projects, and is designed to provide a viable solution to one…

South African M&A conditions set to improve

South African M&A conditions set to improve

South African M&A conditions set to improve

Conditions for deal activity in South Africa are predicted to improve in 2018, but this will depend on political and economic conditions in the country in the next two years, according to the latest report from Baker McKenzie. In its third edition of the Global Transactions Forecast, the law firm states that the easing of key economic and political risks…

South Africa and DRC committed to greater trade

South Africa and DRC committed to greater trade

South Africa and DRC committed to greater trade

Risk managers should be aware of strengthening trade links between South Africa and the Democratic Republic of Congo (DRC), after the two states committed to remove hurdles that hinder business interactions. At an Investment and Trade Initiative seminar, organised by the Department of Trade and Industry, South African Consul General in Lubumbashi, Andrew Maswanganye, said it is important for both…

Political stability sees Rwanda outperform

Political stability sees Rwanda outperform

Political stability sees Rwanda outperform

As Rwanda outperforms its fellow countries with a B rating in terms of governance, Fitch Ratings has affirmed Rwanda’s long-term foreign-currency issuer default rating (IDR) at B+, with a stable outlook. Rwanda outperforms the B and BB medians in the World Bank governance indicators, reflecting the political stability and effective governance that underpin strong donor support, according to Fitch. It…

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