Kenya’s IRA appoints new leader

Kenya’s IRA appoints new leader

Kenya’s IRA appoints new leader

Godfrey Kiptum is the new head of the Insurance Regulatory Authority (IRA) in Kenya, marking one of the longest awaited transitions in the leadership of the county’s financial sector. Mr Kiptum is an IRA insider, having been the regulator’s chief manager for human capital development and administration. His appointment by the IRA board in an acting capacity follows the retirement…

Businesses in Nigeria worried about struggling economy and corruption

Businesses in Nigeria worried about struggling economy and corruption

Businesses in Nigeria worried about struggling economy and corruption

The biggest threats to Nigeria are market volatility and corruption, according to the 6th annual Allianz Risk Barometer, which also reveals that political risks and violence are still a major challenge largely due to terrorism and kidnap for ransom. Cyber risk concerns rank fifth in Nigeria driven by the impact of indirect attacks, regulatory threats and technical and employee error…

Businesses across Africa concerned about market volatility and political risks

Businesses across Africa concerned about market volatility and political risks

Businesses across Africa concerned about market volatility and political risks

Companies operating in Africa increasingly worry about the unpredictable business environment where markets are volatile and political perils, such as protectionism or terrorism, are on the rise, according to the 6th annual Allianz Risk Barometer. Other growing concerns are digital dilemmas arising from new technologies and cyber risks (#6), as well as natural catastrophes (#7). “Most African countries such as…

German companies expecting business boost to South Africa

German companies expecting business boost to South Africa

German companies expecting business boost to South Africa

German companies are expecting increased export activity during the next few months, according to new research from credit insurer Coface. The report comes as Germany’s statistics office reported a new all-time high for total monthly exports in November, totalling €108.5bn, 5.6% more than November 2015. Export volumes have increased about 50% since the low in 2009. Export growth has been…

Kenya introduces amendments to insurance law

Kenya introduces amendments to insurance law

Kenya introduces amendments to insurance law

Kenya has introduced new amendments to its Insurance Act that allow investors to inject other forms of capital other than ordinary shares; and for the first time officially recognises takaful, the Shariah law-compliant insurance. All the amendments have also strengthened the ongoing phased implementation of risk-based supervision. The changes became effective on 13 January 2017, according to the Insurance Regulatory…

Cyber risks top concerns in South Africa

Cyber risks top concerns in South Africa

Cyber risks top concerns in South Africa

Cyber risk concerns lead the risk agenda in South Africa, according to the 6th annual Allianz Risk Barometer. The report found that businesses increasingly fear the impact of non-physical damages, market uncertainties and political perils. Companies also increasingly worry about the unpredictable business environment where markets are volatile (#2) and political perils, such as protectionism or terrorism, are on the…

Tough times predicted to continue as S&P Global Ratings publishes Sub Saharan Africa sovereign rating trends 2017

Tough times predicted to continue as S&P Global Ratings publishes Sub Saharan Africa sovereign rating trends 2017

Tough times predicted to continue as S&P Global Ratings publishes Sub Saharan Africa sovereign rating trends 2017

S&P Global Ratings expects economic conditions for SSA economies to remain challenging in 2017, partially because of the region’s high commodity dependence and relatively slow growth in key exports markets, including China and Europe. The prediction came as S&P published its Sub-Saharan Africa Sovereign Rating Trends 2017. S&P currently rates 17 sovereigns in Sub Saharan Africa (SSA), up from 12…

Risk managers must factor climate change into strategic thinking

Risk managers must factor climate change into strategic thinking

Risk managers must factor climate change into strategic thinking

  Adapting to climate change will be critical for Africa’s success in the future and a new World Bank plan is highlighting some of the challenges. The bank says climate change and variability significantly impact Sub Saharan Africa’s development agenda, but its new plan outlines actions required to increase climate resilience and low-carbon development in an effort to maintain current…