Aaqelah Haq scoops South Africa’s Risk Manager of the Year award

Aaqelah Haq scoops South Africa’s Risk Manager of the Year award

Aaqelah Haq scoops South Africa’s Risk Manager of the Year award

Aaqelah Haq has scooped the Risk Manager of the Year award at the Institute of Risk Management South Africa (IRMSA) annual awards. Ms Haq, who works for the Western Cape Government, received her prize at a glittering ceremony in Johannesburg. Warren Young, of Sanlam, was named as runner-up. Risk Specialist of the Year was Mpho Modisane, from the Airports Company…

Risk managers warned to improve cybersecurity after major South Africa attack

Risk managers warned to improve cybersecurity after major South Africa attack

Risk managers warned to improve cybersecurity after major South Africa attack

Cyber risk management is an imperative to protect companies and their customers from ever-increasing cyber incidents, especially cybercrime. According to a recent report, there are more than 13,000 cyberattacks daily in South Africa. Munich Re of Africa (MRoA) is encouraging local firms to review their cyber risk exposures in the wake of a series of cyberattacks directed at the City…

US imposes sanctions on three South Africans amid corruption allegations

US imposes sanctions on three South Africans amid corruption allegations

US imposes sanctions on three South Africans amid corruption allegations

South Africans Ajay Gupta, Atul Gupta and Rajesh Gupta and their close associate Salim Essa have been sanctioned by the US government for their alleged involvement in what was described as a “significant corruption network” by the US Office of Foreign Asset Control (OFAC). Steven Powell and Edward James, of ENSafrica, explained: “In the US, OFAC maintains a list of…

South African economic recovery expected in H2

South African economic recovery expected in H2

South African economic recovery expected in H2

Trade credit insurer Atradius is predicting the South African economy will recover in the second half of 2019 and growth will climb to 1.6% in 2020. In a new report on South Africa for businesses trading, or considering trading, within the country, it reveals China is the largest of South Africa’s export markets, receiving 9.1% of total exports, followed by…

Unemployment threatens security and safety in South Africa

Unemployment threatens security and safety in South Africa

Unemployment threatens security and safety in South Africa

Unemployment and growing income disparity have been drags on the South African economy for some years. However, as Christopher Palm, 
chief risk adviser, Institute of Risk Management South Africa, reports, the problem is simply not going away. For risk managers, he says 
there are some very serious threats to factor into their risk thinking The top risk in South Africa…

South Africa falls in terms of rule of law

South Africa falls in terms of rule of law

South Africa falls in terms of rule of law

South Africa dropped three positions in the past year for overall rule of law performance, to 44th out of 126 countries, according to the latest Rule of Law Index, released by The World Justice Project (WJP). The strength of the rule of law in a country was ranked among the top three considerations when multinationals make decisions about where to…

South African business face risks from power price hike

South African business face risks from power price hike

South African business face risks from power price hike

South African businesses are being put at risk by a hike in prices from one of the country’s electricity suppliers. The National Energy Regulator (Nersa) recently announced a large price hike in South African electricity tariffs for the next three years. Nersa’s multi-year price determination currently sits at 9.41% for 2019, 8.10% for 2020 and 5.2% for 2021. The increases…

Coface South Africa scoops gender award

Coface South Africa scoops gender award

Coface South Africa scoops gender award

Credit insurer Coface South Africa has been named overall Gender Mainstreaming Champion at the 2019 Awards. In all, the insurer scooped four awards: The award for a non-Johannesburg Stock Exchange-listed company in the category Women Empowerment in the Workplace The Women on Boards Award and Women on Executive Committees in Multinationals award Third finalist award for Equal Representation and Participation.…

High South African cat claims impact Santam results

High South African cat claims impact Santam results

High South African cat claims impact Santam results

Underwriting results for South Africa’s largest short-term insurer Santam suffered negatively from fires, hailstorms and floods at the beginning of 2019. Santam has reported solid operational results for the six-month period ended 30 June 2019, in an environment characterised by tough trading conditions for short-term insurers. The group achieved gross written premium (GWP) growth of 8% on its conventional insurance…

1 2 3 35