The first annual Global Risk Frontiers (GRF) project kicked off late last year as the Commercial Risk Europe team attended both the IRMSA conference in Johannesburg, South Africa and RMIA in Australia. CRE Editor Adrian Ladbury and Commercial Risk Africa reporter Kapila Gohel have since been busy setting the GRF survey questions to leading South African risk managers in Johannesburg and Cape Town including a roundtable in Cape Town kindly hosted by Antonella da Cunha of Capespan.
South African risk managers are grappling with just the same complex risks that are rooted in the fast-changing global economy as their peers in Europe and the profession is growing up fast as a result.
Recent strikes in Algeria suggest the country is set to face political unrest in the coming years that could hit private companies, according to a report by Exclusive Analysis.
South African risk managers were warned to be careful they do not become mired in complex discussions about risk terminology and thereby fail to apply the dynamic and positive elements of risk management at a critical time in the country’s development, warned experts at the IRMSA conference this week.
South African risk managers need to ensure that true risk management principles are embedded throughout their organisations ‘in each and every department’ if the community is to help the nation rise to some of the big challenges it currently faces, according to Hennie Thessner, President of IRMSA and Head of Risk at Nedbank.
IRMSA took further significant steps in its hoped-for expansion of the institute across the Sub Saharan region this week as it took forward discussion about the creation of its first branch outside of South Africa in Namibia.
The research carried out to publish our first major analysis of a non-European risk and insurance market—South Africa and the wider Sub-Saharan region—showed, without a shadow of a doubt, that risk is remarkably consistent across the globe.
The Institute of Risk Management South Africa (IRMSA) has announced that the South African Qualifications Authority Board (SAQA) has approved it as the only registered and recognised professional body for risk management in South Africa.
European and international risk managers may have to reassess their company’s expansion plans into South Africa after it dramatically dropped into the ‘relegation zone’ of premier league international countries last week, according to a leading South African futurologist and scenario planner.
South African businesses and those investing in the country face some big economic challenges over the next few years as the nation grapples with a sharply widening budget deficit, growth rates below the rate of inflation, rapidly falling overseas investment and potential for capital outflows from the Johannesburg stock market, lower global demand for exports and falling prices for commodities.