Welcome to the second issue of Commercial Risk Africa and the first of this year. We launched this publication at the IRMSA conference in Johannesburg in hard copy format late November last year and it was well received by the South African risk management community and our European and international readership.
CRA’s Rodrigo Amaral discussed the development of risk and insurance in French-speaking Africa with Alioune Diouf, CEO of AXA Senegal.
Commercial Risk Africa was launched at the IRMSA annual conference in Johannesburg in late November 2012. Adrian Ladbury reports the highlights from Africa’s premier risk management event.
4 March, 2013 will be an important day for Kenya, not just in terms of the election result but also the way in which the country reacts—regardless of who wins. Kenyans will vote for a new president to replace Mwai Kibaki. Two front runners have emerged—Uhuru Kenyatta and Raila Odinga.
The overall message for Kenya is positive—not least thanks to the recent development of oil and gas reserves. Deniese Imoukhuede, Senior Financial Analyst at credit rating agency AM Best, explained that the burgeoning energy market is having a ripple effect across the whole business community and driving the adoption of more mature risk management and transfer techniques.
Risk management is increasingly seen as a boardroom issue for all types of Kenyan-based firms. A survey from PwC shows risk is high on the agenda.
The Kenyan economy has been growing and changing, not least thanks to recent oil and gas exploration. According to East Africa Oil & Gas, even Australia could face stiff competition from east Africa for LNG exports after 24 oil discoveries have been made from just 27 test wells.
Allianz Global Corporate & Specialty (AGCS), the fast-growing arm of the German and global insurance group, launched its new strategy for South Africa and the wider Sub Saharan African continent to key customers and brokers this January. Commercial Risk Africa editor Adrian Ladbury discussed the group’s plan with Delphine Maidou, CEO of AGCS Africa.
Following the kidnap and hostage of native and foreign workers at an Algerian gas factory last week, Tom Holt, Head of Intelligence at Willis’ Special Contingency, has warned of a ‘potential belt of aggregated terror’ spreading across the north African Sahel region and a significant change in risk profile for overseas companies in the region.
A new marine convoy escort service has been launched that is designed to help protect the assets of ship operators that use the Gulf of Aden, Arabian Sea and Indian Ocean. It is the first naval-grade private convoy protection seen for 220 years.