South Africa: business as usual?

South Africa: business as usual?

South Africa: business as usual?

With political risk again being cited as the number one risk facing business across Africa, according to many risk managers, it was no surprise people were watching the recent elections in South Arica with such interest, as David Kaye reports Risk managers were watching to see the political fallout after Cyril Ramaphosa and the incumbent African National Congress (ANC) party…

Maritime experts call for urgent action to curb piracy in Gulf of Guinea

Maritime experts call for urgent action to curb piracy in Gulf of Guinea

Maritime experts call for urgent action to curb piracy in Gulf of Guinea

The maritime community has called for urgent action to tackle piracy risk in the Gulf of Guinea, which now appears a daily threat to ships and crew operating in the region. At a symposium on maritime security in the Gulf of Guinea held at the International Maritime Organisation’s (IMO) headquarters, industry members and experts noted that the number of attacks…

Accra flood risk to be managed

Accra flood risk to be managed

Accra flood risk to be managed

More than 2.5 million people and thousands of businesses in the Odaw River Basin of the Greater Accra Region (GAR) are set to benefit from improved flood risk management, solid waste management and improved access to basic infrastructure and services. The Greater Accra Resilient and Integrated Development (GARID) project is to receive $200m from the World Bank. The project focuses…

Private companies asked for help in reducing social risks

Private companies asked for help in reducing social risks

Private companies asked for help in reducing social risks

By 2020, $3trn in annual economic value could be created by connecting data across institutional and geographic boundaries, according to the World Economic Forum (WEF). It believes that by combining information from state and private companies, it could significantly benefit epidemic readiness, natural disaster preparedness, national statistics and pollution management. Delivering on the promise of public-private data collaboration for the…

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains that operate through the world’s major hubs are making little or no progress in stamping out child labour, finds new research from Verisk Maplecroft. In its Child Labour Index, the risk analytics firm said manufacturing hubs most entwined in global supply chains – including China, India, Bangladesh, Vietnam and Cambodia – have “not recorded any improvement”…

World Bank steps up agriculture spending across Africa

World Bank steps up agriculture spending across Africa

World Bank steps up agriculture spending across Africa

The World Bank has stepped up its spending in Africa, helping to build resilience in rural communities across the continent. Its board has approved a $25 million grant from the International Development Association (IDA) to finance the Agriculture Recovery and Agribusiness Development Support Project (ARADSP) in the Central African Republic. The project aims to increase the agricultural productivity of small-scale…

Services sector spurs Ethiopia growth

Services sector spurs Ethiopia growth

Services sector spurs Ethiopia growth

A strong performance in the services sector is helping Ethiopia continue strong economic growth, according to the World Bank. However, the pace of growth has slowed, says the bank, thanks to sluggish industrial growth driven by lower construction due to foreign exchange shortages and weaker performance of manufacturing and agricultural sectors. The World Bank’s latest economic update said: “Impressive growth of…

Ransomware attacks ‘skyrocket’ in 2019 as large firms targeted, warns Beazley

Ransomware attacks ‘skyrocket’ in 2019 as large firms targeted, warns Beazley

Ransomware attacks ‘skyrocket’ in 2019 as large firms targeted, warns Beazley

Ransomware attacks “skyrocketed” by 105% in the first quarter of 2019, according to notifications collated by insurer Beazley’s Breach Response Services team. Beazley said there was also a change in style of ransomware attack, with perpetrators targeting larger organisations and demanding higher ransomware payments to unlock systems. Banking trojans have been “increasingly problematic” for companies in the first quarter of…

Ethiopia gets boost for renewable funding

Ethiopia gets boost for renewable funding

Ethiopia gets boost for renewable funding

The African Development Bank (AfDB) is to put almost $1m into renewable projects in Ethiopia. The Sustainable Energy Fund for Africa (SEFA), managed by the AfDB, has approved a $995,000 grant to support the rollout of a sustainable procurement framework for independent power producers (IPPs) in Ethiopia. The SEFA grant will encourage private investments into hydropower projects through Ethiopia’s Renewable…