Business disrupted across southern Africa by Cyclone Idai

Business disrupted across southern Africa by Cyclone Idai

Business disrupted across southern Africa by Cyclone Idai

Business across Mozambique, Malawi and Zimbabwe has been severely disrupted by Cyclone Idai, which has left more than 1,000 dead in Mozambique alone. Deaths have reached nearly 100 in Zimbabwe and huge swathes of all three countries have been left without power, with roads washed away and all communications down. The storm has disrupted many businesses but hit the mining…

Ethiopia crash poses huge questions for Boeing

Ethiopia crash poses huge questions for Boeing

Ethiopia crash poses huge questions for Boeing

In the wake of the Ethiopian Airlines crash last week and the Lion Air crash five months ago, analysts are beginning to ask if aircraft manufacturer Boeing can survive the economic impact. Boeing’s share price has fallen by more than 10% from a week ago, when it hovered near all-time highs, wiping $25bn off its market capitalisation. It is already…

Political uncertainty continues in Nigeria

Political uncertainty continues in Nigeria

Political uncertainty continues in Nigeria

Political uncertainty continues in Nigeria as the leader of the losing opposition party has filed court papers to challenge the results of last month’s presidential election. Atiku Abubakar lodged a legal challenge to the official result on Monday, according to reports from the BBC and France 24. Muhammadu Buhari, 76, was re-elected president after a delayed poll that angered voters…

Major boost for private sector in Portuguese-speaking Africa

Major boost for private sector in Portuguese-speaking Africa

Major boost for private sector in Portuguese-speaking Africa

Risk mitigation is at the heart of a new financing deal set to open up the private sector across Mozambique and open the way for trade with Portuguese-speaking Africa. The African Development Bank (AfDB) and the governments of Mozambique and Portugal have signed a Mozambique-specific memorandum of understanding for the implementation of the Lusophone Compact.The Lusophone Compact is a financing…

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing has suspended all 371 of its worldwide 737 Max aircraft fleet, after the US became the last major country to ground the planes over safety fears. The decision follows news that Global Aerospace is the lead insurer for Boeing, with Chubb confirmed as lead underwriter of the Ethiopian Airlines plane that crashed on Sunday and Willis Towers Watson the broker…

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

The EU has banned all Boeing 737 Max aircraft from flying in Europe over safety concerns, with more than half of the world’s 350-strong fleet now reportedly withdrawn from use. Meanwhile, Global Aerospace has confirmed it is the lead insurer for Boeing. The policy could see heavy product liability claims from the grounded aircraft, which now face serious questions. “I…

Cyber rated top risk facing multinationals in Africa

Cyber rated top risk facing multinationals in Africa

Cyber rated top risk facing multinationals in Africa

Cyber, together with political and trade credit risks, has topped a new multinational risk survey released by Chubb Insurance South Africa, in collaboration with Commercial Risk Africa. “Despite commodity market instability, Africa remains one of the fastest-growing regions in the world, with South African organisations focusing their growth strategies beyond borders. Yet these new growth strategies are creating complex new…

Obituary: Dawid Welman

Obituary: Dawid Welman

Obituary: Dawid Welman

Dawid Welman, founder of the Namibian chapter of the Institute of Risk Management South Africa (IRMSA) and head of group risk management at Ohlthaver & List Group of Companies (O&L Group), has died suddenly. An IRMSA statement said: “It is with great sadness that we advise of the recent passing on of one of IRMSA’s most esteemed members, Dawid Welman.…

Risks of ill health at work highlighted as Lesotho tops female suicide list

Risks of ill health at work highlighted as Lesotho tops female suicide list

Risks of ill health at work highlighted as Lesotho tops female suicide list

Lesotho has topped the suicide list for women globally, as the World Health Organisation (WHO) revealed someone commits suicide every 40 seconds. Companies are being urged to encourage staff to be more open about mental health issues. Anna Brattstrom, global head of statistics and analytics at Axco Insurance Information Services, said: “Last month, we celebrated the Time to Talk Day 2019 – a…

Moroccan banks still challenged by weak asset quality and capital adequacy

Moroccan banks still challenged by weak asset quality and capital adequacy

Moroccan banks still challenged by weak asset quality and capital adequacy

Weak asset quality and capital adequacy continue to weigh heavily on Moroccan banks’ standalone viability, according to a new report by Fitch Ratings. “All Moroccan banks’ IDRs are driven by our assumption that the banks would receive support, if needed, from the Moroccan sovereign (BBB-/stable) or their institutional shareholders,” it said. Fitch warned the average impaired loans/gross loans ratio reported…

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