Page 18 - 2022 IRMSA Risk Report
P. 18

SECTION 1: South Africa Risk Context



          1.1 Introduction                                    ̅i ˆ˜ÌiÀˆ˜Ži` Ài>̈œ˜Ã…ˆ« LiÌÜii˜ LÕȘiÃà >˜`
           iëˆÌi “>˜Þ V…>˜}ià ˆ˜ -Ƃ½Ã ÀˆÃŽ >˜`ÃV>«i ȘVi   ÜVˆiÌÞ]  Ã>ވ˜}  º ̽à  iÝÌÀi“iÞ  `ˆvwVÕÌ  ̜  À՘  >
          our 2021 report, many risks have remained and       ÃÕVViÃÃvՏ LÕȘiÃà ˆ˜ >˜ ՘ÃÕVViÃÃvՏ ÜVˆiÌÞ] >˜`
          …>Ûi LiVœ“i iiÛ>Ìi`°                               vœÀ ÜVˆiÌÞ Ìœ Li ÃÕVViÃÃvՏ] }Ài>ÌiÀ iµÕ>ˆÌÞ iÛiÃ
                                                              >Ài iÃÃi˜Ìˆ>° /…i œ˜Þ ÃÕÃÌ>ˆ˜>Li Ü>Þ Ìœ V…>˜}i ˆÃ
          7…ˆÃÌ “œÃÌ œÀ}>˜ˆÃ>̈œ˜Ã ÜiÀi Vœ˜w`i˜Ì ̅>Ì Ì…iÞ   ̅ÀœÕ}… LiÌÌiÀ i`ÕV>̈œ˜ œÕÌVœ“ià VœÕ«i` ܈̅
          …>`  >««Àœ«Àˆ>ÌiÞ  Ài뜘`i`  ̜  ̅i  ˆ“«>VÌà  œv   ÃÕÃÌ>ˆ˜i` }ÀœÜ̅] ÃÕ««œÀÌi` LÞ ÃÌÀœ˜} i>`iÀň«
           "6  ‡£™] “>˜Þ …>Ûi Lii˜ ÃÕÀ«ÀˆÃi` >Ì Ì…i Èâi      ̅>Ì >V̈ÛiÞ Vœ“L>Ìà VœÀÀի̈œ˜°»
          œv  ̅œÃi  ˆ“«>VÌÃ]  Vœ“«iˆ˜}  ̅i“  ̜  >  LÀœ>`iÀ
          consideration of pandemic risk and its extended  1.2  Stunted prospects for GDP
          reach. There is strong consensus that the impact          growth
          œ˜  ÃÌÀ>Ìi}ˆV  ÀˆÃŽÃ]  ̅i  iVœ˜œ“Þ  >˜`  œ˜}iÀ‡ÌiÀ“
          œÀ}>˜ˆÃ>̈œ˜> ÃÕÃÌ>ˆ˜>LˆˆÌÞ “>Þ Ã̈ Li …>À`iÀ viÌ   /…i  «ÀœÌÀ>VÌi`  ˆ“«>VÌ  œv   "6  ‡£™  …>à  i`  ̜
          LÞ -Ƃ Vœ˜ÃՓiÀð /…ˆÃ ˆÃ iÝ>ViÀL>Ìi` LÞ Ì…i Å>À«   …ˆ}…iÀ ˆ˜y>̈œ˜ iÛiÃ }œL>Þ] ܈̅ Vi˜ÌÀ> L>˜ŽÃ
          ˆ˜VÀi>Ãi  ˆ˜  ՘i“«œÞ“i˜Ì  >˜`  >  LÀi>Ž`œÜ˜  ˆ˜   “œÛˆ˜} vÀœ“ Ài`ÕVˆ˜} ˆ˜ÌiÀiÃÌ À>Ìià >˜` œœÃi˜ˆ˜}
          ÜVˆ> Vœ…iȜ˜°                                    “œ˜iÌ>ÀÞ  «œˆVÞ  ̜  >  ̈}…Ìi˜ˆ˜}  œv  «œˆVÞ  >˜`
                                                              ˆ˜VÀi>Ș} ˆ˜ÌiÀiÃÌ À>Ìið /…ˆÃ ˆÃ > ŽiÞ `iÛiœ«“i˜Ì
                                                              vœÀ -Ƃ >˜` œÌ…iÀ `iÛiœ«ˆ˜} iVœ˜œ“ˆiÃ] >à ˆÌ ܈
                                                              ˆŽiÞ ÀiÃÕÌ ˆ˜ > Ài`ÕV̈œ˜ ˆ˜ V>«ˆÌ> yœÜ >˜` œÃÃ
                                                              of investments.
                                                              Ƃ  >À}i  «>ÀÌ  œv  ̅i  ܜÀ`  iÝ«iÀˆi˜Vi`  ˆ˜VÀi>Ãi`
                                                              }ÀœÜ̅  ÃÕÀ«>ÃȘ}  «Ài‡ "6  ‡£™  iÛiÃ]  «>À̏Þ
                                                              ̅ÀœÕ}…  «i˜Ì‡Õ«  `i“>˜`]  ÃÕ««Þ  ŜÀÌ>}ià  >˜`
                                                              >LœÕÀ  ŜÀÌ>}ià  ˆ˜  ܓi  “>ÀŽiÌð   œÜiÛiÀ]
                                                              -Ƃ  …>à  ˜œÌ  Ãii˜  ̅i  Ã>“i  iÛi  œv  iVœ˜œ“ˆV
            CLICK HERE                                        restoration. If we start to increase interest rates to
                                                              Vœ˜ÌÀœ ˆ˜y>̈œ˜ œÀ ̜ “>ˆ˜Ì>ˆ˜ > ÃÌ>Li VÕÀÀi˜VÞ]
          “Watch the full interview here”
                                                              Üi ܈ ˜i}>̈ÛiÞ ˆ“«>VÌ œÕÀ }ÀœÜ̅ ÌÀ>iV̜ÀÞ°



         Mike Brown, Chief Executive at
         Nedbank Group Limited
          "˜ ̅i ÀˆÃŽÃ À>ˆÃi` >ÃÌ Þi>À] ̅i >VŽ œv i>`iÀň«]
          ˆ˜VÕ`ˆ˜}  «œˆÌˆV>  i>`iÀň«]  Ài“>ˆ˜Ã  >  ŽiÞ
          concern, with the need to make decisions that are
          Àˆ}…Ì vœÀ ̅i VœÕ˜ÌÀÞ Liˆ˜} œv «>À̈VՏ>À ˆ“«œÀÌ>˜Vi°
          -Ƃ …>à …ˆÃ̜ÀˆV>Þ Lii˜ }ˆÛi˜ > œÌ œv iiÜ>Þ] LÕÌ
          ȘVi ̅i  >ÀV… ÓäÓä `œÜ˜}À>`i ̜ Õ˜Ž ÃÌ>ÌÕÃ]         CLICK HERE
          Üi½Ûi À՘ œÕÌ œv À՘Ü>Þ >˜` ˜œÜ ˜ii` ̜ `iÛiœ«      “Watch the full interview here”
          an environment that is more conducive to doing
          LÕȘiÃð
           Àœ“ > }œL> ÃÌ>˜`«œˆ˜Ì] ºÌ…i ÀiVi˜ÌÞ Àii>Ãi`
          7œÀ`   Vœ˜œ“ˆV   œÀՓ  ,ˆÃŽ  Ài«œÀÌ  …ˆ}…ˆ}…ÌÃ
          the severe impact that the pandemic has had on      Andy Rayner, CRO at Discovery Health
          ˆ˜iµÕ>ˆÌÞ] «>À̈VՏ>ÀÞ ˆ˜ ̅i `iÛiœ«ˆ˜} “>ÀŽiÌÃ]»   º/…iÀi ˆÃ > ÛiÀÞ Ài> ÀˆÃŽ ̅>Ì -Ƃ ܈ ÃÌ>Þ ˆ˜ > œÜ‡
          Ã>Þà  ˆŽi  ÀœÜ˜]   " œv  i`L>˜Ž°  œÀ -Ƃ] ̅ˆÃ
          ˆ˜VÀi>Ș} }>« LiÌÜii˜ ̅i ÀˆV… >˜` ̅i «œœÀ …>à    }ÀœÜ̅ i˜ÛˆÀœ˜“i˜Ì vœÀ ̅i ˜iÝÌ x ̜ £ä Þi>ÀÃ]»
          Lii˜ iÝ>ViÀL>Ìi` LÞ Ì…i œÃà ˆ˜ œV> ̜ÕÀˆÃ“] ܅ˆÃÌ   Ã>Þà  Ƃ˜`Þ  ,>ޘiÀ]   ,"  >Ì   ˆÃVœÛiÀÞ   i>Ì…°
          ̅i  Ài>̈ÛiÞ  œÜ  Û>VVˆ˜>̈œ˜  iÛiÃ  compared   7i½Ûi iÝ«iÀˆi˜Vi` LiÌÜii˜ âiÀœ >˜` £¯ }ÀœÜ̅°
          ̜  `iÛiœ«i`  “>ÀŽiÌà  …>à  >Ãœ  ÀiÃՏÌi`  ˆ˜  “œÀi    v  Üi  ÃÌ>Þ  œVŽi`  ˆ˜  ̅i  VÕÀÀi˜Ì  }œL>  œÕ̏œœŽ]
          ÃÌÀˆ˜}i˜Ì œVŽ`œÜ˜ Ài}Տ>̈œ˜Ã ­Ì…ˆÃ >Ãœ …>ۈ˜} >   ̅ˆÃ  ܈  “>˜ˆviÃÌ  ˆ˜  V…>i˜}ià  ̜  VÀi>Ìi  œLÃ
          ˜i}>̈Ûi iVœ˜œ“ˆV ˆ“«>VÌ®°  ÀœÜ˜ vÕÀ̅iÀ …ˆ}…ˆ}…Ìà   >˜`  ÀiÃÕÌ  ˆ˜  ˆ˜VÀi>Ãi`  ՘i“«œÞ“i˜Ì°  7i  >Ài
                                                              vÕÀ̅iÀ  V…>i˜}i`  LÞ  >  ˆ“ˆÌi`  Ì>Ý  L>Ãi]  ܅ˆV…


      16   IRMSA RISK REPORT • SOUTH AFRICA RISKS • EIGHTH EDITION
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