How can African risk managers battle Covid-19?

How can African risk managers battle Covid-19?

How can African risk managers battle Covid-19?

Across Africa, businesses have been fearing the worst from the Covid-19 outbreak, both in terms of immediate risk and of longer-term economic damage. In both South Africa and Kenya lockdowns are being imposed and elsewhere airports are shut while governments battle to contain the spread of the virus. We look at some of the advice for risk managers in managing…

Kenya in partial lockdown as coronavirus disrupts businesses

Kenya in partial lockdown as coronavirus disrupts businesses

Kenya in partial lockdown as coronavirus disrupts businesses

Kenya has tightened measures to prevent further spread of the coronavirus after the number of confirmed cases doubled to 16 in three days, sparking fears of increased risk. The state has suspended all social gatherings including religious activities and entertainment and has also limited funerals to a maximum of 15 people. In a country where more than 70% of the…

Kenya’s insurance regulator in search of fraud prevention interventions as losses pile up

Kenya’s insurance regulator in search of fraud prevention interventions as losses pile up

Kenya’s insurance regulator in search of fraud prevention interventions as losses pile up

Fraud is a major issue in the Kenyan insurance market and is thought to be one of the main reasons why insurance penetrations levels remain so low. Patrick Alushula reports on a new initiative from the insurance regulator to discover the true scale of the problem Kenya’s insurance industry regulator wants to measure the extent of fraud in the sector…

World unlikely to step in to stop west African piracy

World unlikely to step in to stop west African piracy

World unlikely to step in to stop west African piracy

Global trade swayed the decision-making in favour of taking a stand against the Somali pirates operating off the east coast of Africa but, as Liz Booth reports, it is unlikely the west coast will see the same support despite becoming the global hot spot for pirate attacks Risk managers with any involvement in marine transport on the west coast of…

Learning lessons from the 2019 cyclones

Learning lessons from the 2019 cyclones

Learning lessons from the 2019 cyclones

Stakeholders need to go above and beyond if they are to learn vital lessons from the catastrophic cyclones that swept across southeastern Africa last year A new report shows southern Africa has made progress in resilience-building in recent years and, to further strengthen the region against natural hazard events, recommends more attention to pre-event planning. These efforts should be accompanied…

Africa still expected to shine in tough political environment

Africa still expected to shine in tough political environment

Africa still expected to shine in tough political environment

Amid a challenging global outlook, Africa is expected to be an economic out performer in 2020, according to a new political risk report from Marsh. Political risk continually tops the risk list for most risk managers operating on the continent, so the new report should come as welcome news. Added to that, the International Monetary Fund forecasts growth in sub-Saharan…

Covid-19 is a numbers game

Covid-19 is a numbers game

Covid-19 is a numbers game

Only a strategic response can alter the numbers of the Covid-19 outbreak, a leading South African risk manager has warned. Walter Ehrlich, Institute of Risk Management South Africa risk intelligence committee member, said: “If your only focus regarding Covid-19 is to look at operational crisis management, you need to rethink your approach. The war against Covid-19 must be fought by…

Mentoring proves key to success for African risk managers

Mentoring proves key to success for African risk managers

Mentoring proves key to success for African risk managers

The Institute of Risk Management (IRM) has asked its members what working in risk is really like and what hints and tips they would share with people looking to move into the industry. Here, we share two of the African responses, in which the importance of mentoring is highlighted… Joseph Oppong Awuku, enterprise risk management and control, NSIA Insurance Ghana…

Nigeria risk award date set for July

Nigeria risk award date set for July

Nigeria risk award date set for July

The fifth edition of the Nigerian Risk Summit and Awards (NRSA 2020) has been set for 9 July 2020. Entries for the 2020 awards have already opened through the NRSA website. The NRSA were conceived by Conrad Clark Nigeria in partnership with the Convention on Business Integrity, the Institute of Risk Management, the Risk and Insurance management Society and the…

State aid and Covid-19: more flexibility for public sector support to industry

State aid and Covid-19: more flexibility for public sector support to industry

State aid and Covid-19: more flexibility for public sector support to industry

The European Union state aid regime prohibits financial assistance to industry unless it is made in accordance with the parameters of the rules. There are controls on the types of industry that can be offered different types of public funding. The EU state aid regime continues to apply to the UK during the implementation phase of Brexit. The European Commission…

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