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 decline in the global oil price has led to a reduced level of activity across the African continent and had an impact on countries that traditionally depend on oil and gas revenue. Despite the bleak landscape, the African continent still offers significant opportunities in the oil and gas sector, according to PwC.
Africa Re has reported underwriting profit and investment income up 8% and 13% respectively, amid challenges to meet top-line targets following depreciation in the underlying currencies.
Risk managers must continue to speak up at board level, even if it sometimes makes them unpopular – that is one of the central messages to emerge from the recent Risk Managers Association of Nigeria annual national conference.
The recent takeover of Skye Bank by the Central Bank of Nigeria to protect depositors’ funds as the bank floundered on liquidity and capital adequacy ratios has raised, once again, the contentious issue of risk management in Nigerian banks.
A lack of trade credit and a lack of product development are hampering business in Nigeria, according to a group of insurers who visited London on 7 June.
Driving risk management into the heart of every organisation has never been more important. As regulators seek to deliver international standards and as businesses face a new chapter in the African growth story corporate risk management is increasingly essential to future success.
An ever changing environment and overwhelming number of regulations require companies to have a company-wide risk management and compliance structure in place. It si natural for individual departments to focus on their particular challenges, but this sort of isolation in the enterprise does not foster efficiency.
Part of a series of bespoke transatlantic forums designed to connect pensions, insurance & sovereign funds, DFIs, endowments & foundations, PE Funds and investment professionals with investable strategies and executable themes in African Markets.