Oil price affecting political risk in key African states

Oil price affecting political risk in key African states

Oil price affecting political risk in key African states

Political events can have a significant influence on the price of oil, but the price of oil also has a strong influence on political events. In 2016, the latter was in full force, with enormous geopolitical consequences from the downturn in the price of oil, according to a new report from Marsh. Its 2017 Oil and Gas Risk Reward Index…

US and South Africans to lead risk management initiative in Lagos

US and South Africans to lead risk management initiative in Lagos

US and South Africans to lead risk management initiative in Lagos

Risk management professionals from the US and South Africa are to lead a four-day event in Lagos, aimed at improving risk management in the west Africa region. Anthonia Beri, programme director at National Fire Prevention Awareness and Advocacy (NFPAWA), said the organisation discovered a wide gap in skills and knowledge in life, fire safety, security risk management and mitigation. She added…

Senior management views talent scarcity as serious risk

Senior management views talent scarcity as serious risk

Senior management views talent scarcity as serious risk

Organisations are facing up to the realities of shifting demographics and new technology in terms of accessing the right talent, with senior management viewing talent scarcity more acutely than HR professionals. The 2017 Global Talent Trends Study from Mercer states: “As the competition for talent continues to rise and business models are disrupted by technology and socio-demographic shifts, organisations are…

Time for women in risk to stand up and be counted

Time for women in risk to stand up and be counted

Time for women in risk to stand up and be counted

International Women’s Day 2017 was celebrated last week, and women in risk management were no exception. The UK’s Institute of Risk Management (IRM), which includes a chapter in Kenya as well as in South Africa, celebrated the global event by highlighting the role of women in risk. The institute comments: “While it may not be easy to predict what tomorrow’s…

Transforming the insurance sector in Kenya

Transforming the insurance sector in Kenya

Transforming the insurance sector in Kenya

Winning consumer trust and designing insurance products fit for purpose is key in the drive to increase insurance penetration in Kenya, according to a group of insurers meeting recently in Mombasa. Some 60 insurers attending a KPMG’s ‘It is Time for Change’ event in Mombasa heard how Kenya’s new Insurance Act is set to transform the sector, driving good governance…

Women in risk – changing times

Women in risk – changing times

Women in risk – changing times

Female risk managers across the world are marking International Women’s Day 2017 today. The UK’s Institute of Risk Management (IRM), which includes a chapter in Kenya as well as in South Africa, has also highlighted the role of women in risk. The institute said: “While it may not be easy to predict what tomorrow’s business will require from its leadership,…

Tested benchmarks key to sound risk management practices, warns Nigerian risk body

Tested benchmarks key to sound risk management practices, warns Nigerian risk body

Tested benchmarks key to sound risk management practices, warns Nigerian risk body

Aiming to standardise and ensure compliance in operational risk management in life, fire safety and security is critical warned Nigerian risk organisation National Fire Prevention Awareness and Advocacy (NFPAWA). It said it is critical that the business continuity planning both in the private and public sectors is adequately underwritten by tested benchmarks, standards and best practices to ensure sustainability. NFPAWA…

Risk managers must understand true extent of cyber threat

Risk managers must understand true extent of cyber threat

Risk managers must understand true extent of cyber threat

Too many African risk managers and their companies fail to understand the true threat of a cyber attack, warns security boss Dan Thornton. Speaking exclusively to Commercial Risk Africa, Mr Thornton, a director at GoldPhish, said many companies consider cyber attacks in the context of business interruption. Acknowledging that these can be massive, he said however that firms need to…

Corruption tops the risk list – yet again – in South Africa

Corruption tops the risk list – yet again – in South Africa

Corruption tops the risk list – yet again – in South Africa

Increasing corruption is the top South African risk for the second time in three years and is the fifth highest industry level risk for 2017, according to the third edition of the Institute of Risk Management South Africa’s [Irmsa] Risk Report. Water crises and structurally high unemployment/underem-ployment are the second and third highest national level risks for 2017, increasing modestly,…

Risk management to the fore in 2017

Risk management to the fore in 2017

Risk management to the fore in 2017

  Good risk management will be key in the year ahead, as businesses face myriad challenges, both new and old. The third edition of the Institute of Risk Management South Africa’s (Irmsa) Risk Report involved 1,557 survey and workshop participants, who agreed increasing corruption is the top South African risk for the second time in three years and is the…

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