Tax relief promised for Zimbabwe insurers

Tax relief promised for Zimbabwe insurers

Tax relief promised for Zimbabwe insurers

Zimbabwe’s insurance industry has welcomed a decision to end a 2% transaction tax on insurance deals. The Zimbabwe finance minister promised further exemptions to the 2% transaction tax in the country’s budget announcement last week. The 170 insurers attending the Insurance Institute of Zimbabwe’s (IIZ) annual conference in Victoria Falls last month had urged the government to do away with…

Be prepared for climate change impact

Be prepared for climate change impact

Be prepared for climate change impact

The impact of climate change on Africa is set to be among the most severe, but people are quickly forgetting the terrible weather events of 2017 and are in danger of not preparing for the risks ahead, warned Sory Diomande at a recent conference in Zimbabwe Africa faces some of the worst impacts of global climate change, despite having been…

Travel threat grows in northern Mozambique

Travel threat grows in northern Mozambique

Travel threat grows in northern Mozambique

Business travellers heading to northern Mozambique are being warned to take extra care, as the threat from militants grows. Seamus Duggan, senior analyst at Control Risks said: “It has been a year since Islamist militant group al-Sunnah staged its first attack in Mozambique’s gas-rich Cabo Delgado province.” He warned that the threat posed by the group will continue to grow…

Angola lies 137th in Global Competitiveness Index despite investing billions of dollars

Angola lies 137th in Global Competitiveness Index despite investing billions of dollars

Angola lies 137th in Global Competitiveness Index despite investing billions of dollars

Angola has been placed 137th in the World Economic Forum’s Global Competitiveness Index, despite the government investing between $99.5bn and $99.5bn between 2002 and 2015 in the construction and reconstruction of roads, bridges, railways, airports, ports, dams, power distribution networks, electricity and water, hospitals, schools, housing and public buildings. The minister of economy and planning, Pedro Luís da Fonseca, said…

Push to insure SMEs launches in Botswana

Push to insure SMEs launches in Botswana

Push to insure SMEs launches in Botswana

SMEs across Botswana are seeing rising theft, as well as damage to property and claims from staff. A spokesman for Botswana Insurance Company (BIC) said the top three claims from SMEs are headed by theft, and then followed by loss or damage of items and workers’ compensation. But he warned that many SMEs see insurance as an added expense that…

Botswana must diversify economy, warns IMF

Botswana must diversify economy, warns IMF

Botswana must diversify economy, warns IMF

Botswana may have reasonably good prospects in the near and medium term but the development model needs to be revamped, the International Monetary Fund (IMF) has warned. Enrique Gelbard, who heads the IMF team for Botswana, said: “Diamond production may only extend for another 30 years and mining activities do not create enough jobs. “In addition, Botswana has a small…

Honeymoon period over for Angola under new President Lourenço

Honeymoon period over for Angola under new President Lourenço

Honeymoon period over for Angola under new President Lourenço

Investors are increasingly worried about the state of the Angolan economy, according to a new report. EXX Africa has published a special report on the investment risk outlook on Angola and says that, although since gaining power one year ago Angolan President João Lourenço has enjoyed the benefits of renewed market optimism and fresh investor interest, there are now growing…

Changing times force changing behaviours

Changing times force changing behaviours

Changing times force changing behaviours

A new operating environment, both economically and demographically, is creating some real challenges for business from all sectors. The question facing delegates at Commercial Risk Africa’s recent Risk Frontiers Southern Africa event was not only whether their business is facing up to these, but whether they themselves as risk managers are in the best position to leverage the opportunities The…

What can the risk manager do?

What can the risk manager do?

What can the risk manager do?

As demand for greater risk management increases from the insurance industry, Christopher Palm, of the Institute of Risk Management South Africa, considers how risk managers can make themselves future-fit and win over the ears of the board Becoming creative about risk management rather than depending purely on process should enable risk managers to earn their invite to the boardroom and…

Political violence insurance slow to take off in Zimbabwe despite protests

Political violence insurance slow to take off in Zimbabwe despite protests

Political violence insurance slow to take off in Zimbabwe despite protests

Persuading firms to buy political risk insurance in Zimbabwe has proved challenging, according to one leading insurer. Alice Shumba, executive director – operations at FBC Reinsurance, said: “We have been championing political violence insurance but there were no takers.” She said she was not sure whether it was a case of insureds and risk managers not fully understanding how the…

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