IRMSA Risk Report – South Africa Risks 2024/25
‘Managing the risks that attend to the pursuit of sustainable development.’
South Africans today may feel that they are living inside Charles Dickens’ Tale of Two Cities. In the One City, a smaller portion of society feels empowered and excited about the unfolding future, gathering pace on the wings of the ongoing technological revolution and new political possibilities. The unprecedented results of the 2024 elections require citizens, political parties, the State, and corporates to reinvent a political future that will serve the interests of our entire nation. Yet in Another City, a larger portion of our nation remains excluded from the benefits of democracy and a more equalitarian world. Being caught in this Tale of Two Cities is not unique or confined to South Africa. The explosion of communication technologies has brought us into each other’s living rooms locally and globally, so to speak. This has enabled the world to both share and tackle its interrelated challenges – polycrises and permacrises. Our collective effort to identify and resolve these challenges is guided by the agenda set by the UN Sustainable Development Goals.
Indlulamithi South Africa Scenarios 2035
The Indlulamithi South Africa Scenarios 2035 explores three plausible futures for South Africa between 2024 and 2035, built from 26 high‑impact, high‑uncertainty variables and a refined social cohesion barometer. “Hadeda Home” imagines a fragile, compromise-driven democracy with sluggish reform; “Vulture Culture” depicts a populist, authoritarian, economically stagnant and crime‑ridden narco‑state; and “Weaver Work” portrays a cooperative nation with effective coalitions, green and inclusive growth, institutional renewal and social mobilisation. The scenarios aim to inform long‑term, evidence‑based planning and galvanise collective action across sectors.
Case Study: Operational Resilience in Action: PepsiCo’s Parow Facility
In the face of increasing climate-related challenges, PepsiCo's manufacturing facility in Parow, Cape Town, has emerged as a prime example of how businesses can build resilience through green technology investment and water stewardship (GreenCape, n.d.).
Case Study: Navigating Economic Uncertainty in Africa – Standard Bank Group’s Approach to Risk Management
Standard Bank Group (SBG), a leading financial services organisation with a strong presence across 20 countries in sub-Saharan Africa, faced significant challenges in managing risks amidst increasing economic uncertainty and geopolitical tensions. This case study examines how SBG adapted its risk management strategies to navigate these complex challenges.
Case Study: Implementing Flexible Work Arrangements in an African Tech Company
AfriTech Solutions, a South African software firm, tackled talent retention head-on with flexible work arrangements. The bold move paid dividends: productivity soared, employee satisfaction skyrocketed, and turnover plummeted. Despite initial hurdles, clear communication and tech investments proved crucial. This case exemplifies how African companies can thrive through workplace innovation.
Case Study: Maponya Group – Pioneering Retail in Soweto, South Africa
Richard Maponya, born in 1920 in Limpopo, South Africa, became a pioneering entrepreneur who played a significant role in developing the township economy of Soweto (Ssekitoleko, 2021). Despite the challenges of apartheid, Maponya built a business empire that spanned various sectors, including retail, automotive, and property development (Acumen Magazine, n.d.).
The Personnel Predicament: Addressing the Shortage of Qualified Risk Management Professionals
Uncover the critical shortage of risk management professionals plaguing organisations today. This article explores the causes and consequences of this skills gap, offering innovative solutions to bridge the divide. Learn how companies can bolster their risk management capabilities and thrive in an increasingly complex business landscape.
Navigating the Perfect Storm: Risk Management in an Era of Economic Turbulence
Navigating economic turbulence: a risk manager's guide to survival and success. Discover key strategies for uncertain times, from recalibrating risk appetites to leveraging AI-driven analytics. Learn how Enterprise Risk Management and proactive insurance reviews can fortify your organisation, balancing short-term pressures with long-term vision for resilience.
Navigating the Storm: Mastering Strategic Management in the Face of External Environmental Turbulence
In a world of constant flux, mastering the art of strategic agility is paramount. This article delves into the critical impact of external factors on strategic management, offering invaluable insights for organisations navigating turbulent waters. From PESTEL analysis to scenario planning, it unveils five key approaches to enhance organisational resilience and thrive amidst change, empowering risk professionals to lead with foresight and adaptability.
Strategic Management Challenge: Remote and Hybrid Work Management
In the ever-evolving landscape of modern work, mastering the art of remote and hybrid management is no longer optional—it's imperative. This article delves into the strategic challenges of distributed teams, hybrid environments, and work-life balance, offering invaluable insights for leaders navigating this new terrain. Discover how clear communication, technology utilisation, and trust-building can transform your organisation into a beacon of productivity and employee satisfaction in the digital age.