In or out?

But he explains that the increasingly bad traffic usually results in at least one person failing to make a meeting—and if that is the decision-maker then the day is over before it has begun. Likewise, the issue of visas. Recently, governments have increased their scrutiny of incoming visitors—for whatever reason. The result: business leaders are missing crucial meetings. How can you agree and sign a contract face to face when you are not allowed in the country or your passport has been stuck in an embassy for four weeks? In or out? That was the question on the agenda when a group of insurance CEOs met in South Africa last week. They were discussing capital flight and asking whether it was time for greater protectionism for the local insurance markets.hideThey also considered sustainability in the insurance sector—something that is equally crucial in any business, whatever its size. In Ethiopia, another group of CEOs were meeting to discuss the insurance industry, as well as infrastructure concerns. Again—in or out? How do local insurers ensure they increasingly play a role in such projects, to the benefit of the local economy? In or out? That was also the question being asked in Nigeria recently. Should Goodluck Jonathan remain in or should Muhammadu Buhari push him out? The voters decided in favour of Buhari and, in a move seen as hugely important, Jonathan quickly conceded defeat. In that simple telephone call, he ended fears of riots and violence in the wake of the result and ended concerns that the results would be challenged. Nigeria is in a transition period now but the optimism is already palpable. People voted for change and their expectations are high. After re-basing last year, Nigeria is Africa’s largest economy and, despite the weakening oil price, there is confidence that it will continue to grow. For risk managers operating in the country there are plenty of challenges, not least from the oil price impact and, for those with northern operations, the security risk posed by Boko Haram. Sadly, the terrorists have struck again in Kenya with the shocking attack on the University at Garissa. Confidence has been dented. Kenyans admit to fear that there will be another attack and that they will be caught up in that. But there is relief that the government has reacted fast. Not just with a physical response but with financial sanctions too. Some 86 organisations have been subjected to sanctions and the financial institutions have been told to end all business dealing with them immediately. Sanctions are a tricky issue for businesses and they do pose a major risk. In the past month, I have continued to meet with risk managers across the continent as part of our annual survey—and online responses are still coming in. We will close the survey at the end of April and you will see the results for yourself at the end of May. It has been extremely interesting—and enjoyable—meeting so many of you and is definitely something we will continue to do in the years ahead. In the meantime, our various discussions will be informing the agenda for our three African events this year—covering Southern Africa, East Africa and West Africa. I do hope you will be able to join us in what are building up to be interesting seminars with some exciting speakers already lined up. In the meantime, enjoy reading this issue!

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