More than 80% of Sub Saharan African countries have a high or extreme risk of slavery, including Kenya and Nigeria, two of the region’s three largest economies, according to a new report from risk analysts Verisk Maplecroft.
The Ugandan People’s Defence Force’s (UPDF) phased withdrawal of its 2,500 troops from the African Union Regional Task Force (AU–RTF), scheduled to complete by October 2016, comes amid Uganda’s wider reconsideration of its regional military commitments. This indicates the country no longer perceives the Lord’s Resistance Army (LRA) as an imminent security threat, according to analysts from IHS.
Borrowing from neighbouring Kenya, Uganda’s insurance industry has rolled out public education to trigger growth in the number of insured people as it seeks to raise penetration to at least 1% in the medium term.
Namibia has a new risk management association, with the launch of the Institute of Risk Management South Africa’s (IRMSA) first hub outside of South Africa. This follows the recent launch of Kenya’s first risk management association, courtesy of the Institute of Risk Management (IRM) opening a chapter in the east African state.
Risk management is rising to the top of the boardroom agenda thanks in no small part to changing emphasis from regulators across Africa. Gareth Stokes reports from the Risk Frontiers – South Africa seminar, held last week in Windhoek by Commercial Risk Africa.
For a service-oriented industry, insurance customers can feel that they are far too low on the list of considerations. Delegates at the Organisation of Eastern and Southern Africa Insurers annual conference in Swakopmund heard that there needs to be a sea-change in approach if the insurance industry is to keep pace with looming challenges.
Renewed civil war is likely in north and central Mali and in South Sudan, while the US government has voiced concern around escalating violence in Central African Republic.
More than 61 million people in Africa are now covered by a microinsurance policy – a 63% increase in premium income compared to 2011 figures.