The economic fallout from Covid-19 will increase the risk of modern slavery seeping into supply chains, warned Verisk Maplecroft in the 2020 edition of its Modern Slavery Index. The index specifically flags a “surge” in modern slavery within Asian manufacturing hubs as the pandemic bites. Verisk Maplecroft said workers who have lost their jobs in the pandemic could turn to…
Some 37 countries are at risk of major civil unrest before the end of 2020 as the economic fallout from Covid-19 spikes, with emerging markets most under threat, according to analysis from Verisk Maplecroft. Protests are set to swell as unemployment rates climb and the pandemic sends economies into reverse, inflaming existing public anger with governments, said the firm. It…
Intermediary network Brokerslink has added African business Gramon to its international chain. Brokerslink said the broker, based in Congo Brazzaville, strengthens Brokerslink’s presence in the Africa region, an area of strategic significance for the organisation. Established in 2012, Gramon currently has three offices in the Republic of Congo and plans to open a fourth in Kinshasa, Democratic Republic of Congo,…
Apple, Google, Tesla and Microsoft are reported to be among firms named in a lawsuit seeking damages over deaths and injuries of child miners in the Democratic Republic of Congo (DRC). According to the BBC, the case has been filed by the International Rights Advocates on behalf of 14 Congolese families, accusing the companies of knowing that cobalt used in…
The International Union of Marine Insurance (IUMI) has called for greater law enforcement and business action to mitigate the growing risk of cargo theft, which it warns has reached “alarming proportions”. In a position paper published to coincide with its annual conference in Toronto, IUMI proposed dedicated cargo theft taskforces to coordinate law enforcement across borders and develop effective networks…
The World Health Organisation (WHO) has declared the year-long outbreak of Ebola in the Democratic Republic of Congo (DRC) to be of “international concern”. However, borders remain open and the advice to business travellers is to carry on. Yesterday, the WHO said borders need not close and it is mindful of causing a huge economic dip by closing the borders…
Global manufacturing supply chains that operate through the world’s major hubs are making little or no progress in stamping out child labour, finds new research from Verisk Maplecroft. In its Child Labour Index, the risk analytics firm said manufacturing hubs most entwined in global supply chains – including China, India, Bangladesh, Vietnam and Cambodia – have “not recorded any improvement”…
Companies in the construction and development, infrastructure, and oil and gas sectors face the biggest challenge when it comes to dealing with corruption, according to a new report from international risk consultancy firm the Risk Advisory Group…
After 50 years of state monopoly, the Democratic Republic of Congo (DRC) has liberalised its insurance sector. The country now has three licensed non-life insurers, one life insurer, and two insurance brokers. Rupert Weterings, of AIB Brokers, one of the brokers to win a licence, said: “We do expect that SONAS (the state insurer) will get its licence in the…
Investors face “significantly” higher risk of resource nationalism in 30 countries compared to last year, according to Verisk Maplecroft’s latest Resource Nationalism Index (RNI). This includes 21 major oil, gas and mineral producing nations…