Angola gets negative outlook thanks to poor economic picture

Angola gets negative outlook thanks to poor economic picture

Angola gets negative outlook thanks to poor economic picture

Blaming a fast deteriorating economic picture, Fitch Ratings has affirmed Angola’s long-term foreign and local currency issuer default ratings (IDR) at B with a negative outlook. The issue ratings on Angola’s senior unsecured foreign currency bonds have also been affirmed at B. The country ceiling and the short-term foreign and local currency IDRs have also been affirmed at B. The…

Successful risk management keeps southern African insurance stakeholders in profit

Successful risk management keeps southern African insurance stakeholders in profit

Successful risk management keeps southern African insurance stakeholders in profit

  It is not easy to measure the size of insurance markets in southern Africa. Even in South Africa, which boasts among the best financial systems in the world, analysts have to rely on dated figures from the sector regulator, the Financial Services Board (FSB). What is known is that South Africa is the dominant short-term insurance market in the…

Zambia remains on negative outlook, says S&P

Zambia remains on negative outlook, says S&P

Zambia remains on negative outlook, says S&P

Following the trend of recent rating activity across Africa, S&P Global Ratings has affirmed its B/B long- and short-term foreign and local currency sovereign credit ratings on Zambia. The outlook remains negative, however it is not all bad news for investors as signs of improvement do exist, it said.This follows a similar decision by Fitch on Zambia. S&P said: “In…

RSA expands global network coverage in Africa

RSA expands global network coverage in Africa

RSA expands global network coverage in Africa

International insurer RSA has extended an existing partnership with the Africa-based insurance network, Globus, to service multinational customers in five more African countries. This new arrangement enables RSA Global Network to provide insurance services to customers with operations in Botswana, Congo, Mauritania, Zambia and Zimbabwe. RSA Global Network’s new partners are the Globus members Phoenix of Botswana, Assurances Generales du…

Bryte Insurance emerges out of Zurich SA and Botswana

Bryte Insurance emerges out of Zurich SA and Botswana

Bryte Insurance emerges out of Zurich SA and Botswana

Zurich South Africa and Zurich Botswana have been rebranded as Bryte Insurance, following their acquisition by Canadian Fairfax Financial Holdings (Fairfax) last year. The company is stressing, however, that it will be business as usual. Bryte has identified business risk management as a key growth opportunity and, through its proactive approach to risk management, will focus on driving and diversifying…

Fitch affirms Zambia at ‘B’

Fitch affirms Zambia at ‘B’

Fitch affirms Zambia at ‘B’

Fitch Ratings has affirmed Zambia’s long-term foreign and local currency issuer default ratings (IDRs) at ‘B’ with negative outlook. This follows the country’s “persistent fiscal deficits” and structural constraints. The rating agency said the issue ratings on Zambia’s long-term senior unsecured foreign  and local currency bonds and short-term senior unsecured local currency securities are also affirmed at ‘B’. The Country…

Learning from each other

Learning from each other

Learning from each other

Last year, Tsitsi Chitsamatanga participated in our Risk Frontiers Africa survey along with more than 900 other risk managers and 450 individuals from the world of risk transfer. One of the participants would win a trip to Europe to attend an event organised by Commercial Risk Africa’s sister paper Commercial Risk Europe. Ms Chitsamatanga was picked from the hat as…

Product recall legislation on the rise in southern Africa

Product recall legislation on the rise in southern Africa

Product recall legislation on the rise in southern Africa

  Risk managers need to be aware that South Africa’s Consumer Protection Act 68 of 2008 (CPA), which came into effect in April 2011, was the country’s first foray into consumer rights legislation and has dramatically altered the legal landscape around product recall and product liability more generally. And it is a growing issue across the region. In Zimbabwe, a…

Drought-wracked southern Africa has seen its agricultural sector hit hard

Drought-wracked southern Africa has seen its agricultural sector hit hard

Drought-wracked southern Africa has seen its agricultural sector hit hard

  Primary agriculture makes up around 3% of South Africa’s GDP, with the extended value chain contributing as much as 27% to the country’s economy. Although the contribution by agriculture to total GDP varies significantly from one Sub Saharan African (SSA) economy to the next, South Africa boasts by far the greatest agriculture production in the region. The usually positive…

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