Nick Davis, of GoAGT, a security solutions provider, offers some practical advice to those dealing with crews exposed to physical risks from pirates and criminals in west Africa.
Making sure insurance and reinsurance stays at the top of government priorities will be key if African insurance businesses are to grow and make the most of their potential.
The Kenyan Chapter of the Association of Certified Fraud Examiners is looking to expand its operations to train more fraud examiners in a bid to fight back against fraud in the country.
Chinese investment across Africa is challenging European and US firms to step up their game in a bid to compete and maintain contracts across the region. However, the arrival of Chinese investors is also posing new challenges for risk managers.
Reputational risk should not be underestimated according to one insurer, as it climbs to third position in the list of business risks identified by business leaders.
This is Africa’s time. A sweeping statement, true, but it is one that is being repeated with increasing regularity across the continent.
Twenty-two west and central African states have agreed a Code of Conduct designed to end piracy in west African waters. The code was adopted at an international symposium on security in the region last month (June).
Risk managers have acknowledged that enterprise risk management (ERM) is not necessarily a vehicle with which to change organisational behaviour.
Corruption and poor infrastructure are two of the challenges facing new business ventures in Mozambique, according to a new report from Maplecroft, which has issued additional security warnings in July as security fears in northern and central regions of Mozambique have markedly increased since late June 2013, with the Mozambican National Resistance (RENAMO) becoming increasingly bold in its use of violence as a political weapon.
Data on the number of African captive insurers [self-insurance vehicles] is patchy at best, with few of the major domiciles keeping statistics on captive ownership by country of origin. However, sources agree that most of Africa’s largest corporations—particularly multi-nationals in the mining and energy sectors—have operated their own captives for several years.