Page 21 - 2022 IRMSA Risk Report

South Africa Risk Context

ˆ}ˆÌ> ÌÀ>˜ÃvœÀ“>̈œ˜ >à V >˜}i` Ì i `i“>˜`à œ˜
organisations and the speed at which such demands
change. This requires a different approach towards risk
management. Frameworks for risk management must
Li “œÀi >`>«ÌˆÛi ̜ Žii« Õ« ÜˆÌ Ì i `ޘ>“ˆV>Þ
changing environment that organisations operate in.

1.8 The rise of ESG – focus on
climate risk
ƂÌ œÕ} "6 ‡£™ Ài뜘Ãi “i>ÃÕÀiÃ] ÃÕV
CLICK HERE
>à œVŽ`œÜ˜ >˜` Ài“œÌi ܜÀŽ] >Ûi ܓiÜ >Ì
“Watch the full interview here”
“ˆÌˆ}>Ìi` Փ>˜ˆÌ޽à Vœ˜ÌÀˆLṎœ˜ ̜ Vˆ“>Ìi V >˜}i]
Ì ˆÃ ˆÃ ÕÃÌ > `Àœ« ˆ˜ Ì i œVi>˜° º ˆ“>Ìi V >˜}i ˆÃ
“œÃÌ ViÀÌ>ˆ˜Þ >˜ ˆ˜VÀi>Ș} ÀˆÃŽ Ì >Ì Üi ˜ii` ̜
Li Vœ˜ViÀ˜i` >LœÕÌ° Ì “>Þ ˜œÌ >Ûi > È}˜ˆwV>˜Ì
ˆ“«>VÌ ˆ˜ Ì i ˜iÝÌ £Ó “œ˜Ì Ã] LÕÌ œÀ}>˜ˆÃ>̈œ˜Ã ˜ii`
Kiren Maharaj, Managing Director at ̜ ÃÌ>ÀÌ `œˆ˜} Ì ˆ˜}à ˜œÜ ̜ V >˜}i Li >ۈœÕÀà >˜`
GIBB Power Ì i Ü>Þ Üi À՘ œÕÀ LÕȘiÃÃiÃ]» Ã>Þà ,>ޘiÀ°
1.6 Cyber threats and organisational “So I think from what I’ve read and what I’ve seen,
resilience >˜` Ì ˆ˜Ž Ì ˆÃ ˆÃ i˜vœÀVi` LÞ > œÌ œv Ì i }œL>
˜ Ì i Vœ˜ÌiÝÌ œv Ì i }œL>ˆÃi` “>ÀŽiÌ«>Vi] `ˆ}ˆÌ> ÀiÃi>ÀV œ˜ ÀˆÃŽ] Ì i Vˆ“>Ìi V >˜}i ÀˆÃŽ >à ˜œÜ
Ài>Þ }>ˆ˜i` ˆ“«iÌÕÃ ÜˆÌ Ì i >««i˜ˆ˜}à >Ì "*
Vœ˜˜iV̈ۈÌÞ >˜` Ì i ëii` œv `ˆ}ˆÌ> ÌÀ>˜ÃvœÀ“>̈œ˜] QÓÈR >˜` Ì i Vœ““ˆÌ“i˜ÌÃ Ì >Ì >Ûi Lii˜ “>`i LÞ
Ì i Vœ˜Ìˆ˜ÕœÕà Ài«œÀ̈˜} œv VÞLiÀ‡>ÌÌ>VŽiÀà œ`ˆ˜} Û>ÀˆœÕà VœÕ˜ÌÀˆiÃ] ˆ˜VÕ`ˆ˜} -œÕÌ ƂvÀˆV> ̜ ՘`iÀÌ>Ži
œÀ}>˜ˆÃ>̈œ˜Ã ̜ À>˜Ãœ“ >˜` i>Žˆ˜} Ãi˜ÃˆÌˆÛi `>Ì> “>ÃÈÛi “ˆÌˆ}>̈œ˜ «Àœ}À>“û Ã>Þà ˆÀi˜ > >À>]
ˆÃ œ˜Þ Ì i ̈« œv Ì i ˆViLiÀ}° œL>Þ] œÀ}>˜ˆÃ>̈œ˜Ã >˜>}ˆ˜} ˆÀiV̜À œv *œÜiÀ° / i ÀiÃÌ œv Ì i
experience hundreds of thousands of attacks, ܜÀ` >à Lii˜ >VViiÀ>̈˜} Ì i }Àii˜ >}i˜`>]
ܓi œv Ü ˆV Ì iÞ ÃÕVViÃÃvՏÞ Ài«i° / i >ÌÌ>VŽÃ Ü ˆV ܈ ÀiÃÕÌ ˆ˜ -Ƃ >ÌÌÀ>V̈˜} }Àii˜ Ì>Ýià œ˜ ˆÌÃ
`iÃÌÀœÞ Û>Õi] >Ã Ì iÞ ivviV̈ÛiÞ ÀiÃÕÌ ˆ˜ > Ì>Ý œ˜ «Àœ`ÕVÌà ˆ˜ vÕÌÕÀi° / ˆÃ ˆÃ iÝ>ViÀL>Ìi` LÞ -Ƃ½Ã ÛiÀÞ
LÕȘiÃà >ۈ˜} ̜ LՈ` `ivi˜Vià >}>ˆ˜ÃÌ ÃÕV `ˆÀÌÞ i˜iÀ}Þ ÃÕ««Þ] Ü ˆV ˆv ˜œÌ ÌÀ>˜ÃˆÌˆœ˜i` ̜ }Àii˜
>ÌÌ>VŽÃ° "À}>˜ˆÃ>̈œ˜Ã >Ài Àiˆ>˜Ì œ˜ Ì iˆÀ ÃÞÃÌi“à i˜iÀ}Þ Ãœœ˜ ܈ ˆ“«>VÌ œ˜ iÝ«œÀÌ ÀiÛi˜ÕiÃ Ì >Ì
̜ `œ LÕȘiÃÃ] Ü Ì i vœVÕà œ˜ VÞLiÀ ÀˆÃŽ “ÕÃÌ Li the country is dependent on to keep the economy
Vœ˜Ìˆ˜ÕœÕà >˜` `ޘ>“ˆV ̜ “>ˆ˜Ì>ˆ˜ œÀ}>˜ˆÃ>̈œ˜> }œˆ˜}° -Ƃ “ÕÃÌ >Ãœ LiVœ“i “œÀi >}ˆi ˆ˜ Ài>ˆÃˆ˜}
Àiȏˆi˜Vi >˜` Vœ˜Ìˆ˜ÕˆÌÞ° ,>ޘiÀ Vœ˜Ìi˜`Ã Ì >Ì œ««œÀÌ՘ˆÌˆià ëii`ˆÞ] ÃÕV >à ˆ˜ÛiÃ̈˜} ˆ˜ Ü>ÌiÀ
ºÜi½ ˜iÛiÀ }iÌ Ìœ Ì i «œˆ˜Ì Ü iÀi Ì iÞ >Ûi vՏÞ ˆ˜vÀ>ÃÌÀÕVÌÕÀi Ì >Ì ÜœÕ` >Ûi >œÜi` Õà ̜ Li˜iwÌ
“ˆÌˆ}>Ìi` Ì i ÀˆÃŽ»° vÀœ“ Ì i ÀiVi˜Ì ˆ˜VÀi>Ãi ˆ˜ `>“ iÛiÃ >vÌiÀ i>ÛÞ

1.7 Opportunities amidst the rains.
disruption – embracing “Top executives run the
technology risk of being absolutely
7 ˆÃÌ "6 ‡£™ >à «œÃi` œ˜}œˆ˜} `œÜ˜Ãˆ`i consumed with the matters
ÀˆÃŽÃ] ŽiÞ œ««œÀÌ՘ˆÌˆià >Ûi LiVœ“i >««>Ài˜Ì ˆ˜ of the day, chasing the 90-
}œL>ˆÃ>̈œ˜ >˜` ÌÀ>`i] >à Üi >à ˆ˜ ˜iÜ >`Û>˜Vià day market reporting cycle.
ˆ˜ ÌiV ˜œœ}Þ >˜` ˆ˜˜œÛ>̈œ˜° œ“Û>œ ÃÌ>ÌiÃ\
º œL>ˆÃ>̈œ˜ >˜` ÌÀ>`i ˆÃ }œˆ˜} ̜ Li `iw˜i` LÞ > While this in a certain sense
Ài‡i˜}ˆ˜iiÀˆ˜} œv Ì i ÃÕ««Þ V >ˆ˜] >à Üi >Ã Ì i Ài‡ is responsible behaviour
i˜}ˆ˜iiÀˆ˜} œv Ì i Ü>Þ «Àœ`ÕVÌà >Ài “>˜Õv>VÌÕÀi`°» towards investors, analysts
"v ˜iViÃÈÌÞ] Ü>Þà œv ܜÀŽˆ˜} >Ûi Lii˜ Àià >«i` >à and the like, the dilemma
œÀ}>˜ˆÃ>̈œ˜Ã >Ûi >` ̜ >`œ«Ì “œÀi ÌiV ˜œœ}ˆià is that it detracts from the
̜ LiÌÌiÀ i˜>Li Ì i“ ̜ `œ LÕȘiÃÃ] vœÀ iÝ>“«i\ longer-term responsibility
>`œ«Ìˆ˜} ÞLÀˆ` Ü>Þà œv ܜÀŽˆ˜} >˜` ̜Ì>Þ that business leaders have to
ÀiÌ ˆ˜Žˆ˜} Ì i ˜iViÃÈÌÞ œv « ÞÈV> œvwVið ˜ vÕÌÕÀi] build long-term, sustainable
Ì i V >i˜}i ܈ Li >LœÕÌ œÜ Ì iÞ L>>˜Vi Ì iÃi organisations.”
new ways of working with maintaining a sense of
community within their organisations. Going forward, Dr. Morne Mostert
i>`iÀà >Ài ˆ˜VÀi>Ș}Þ ÀiVœ}˜ˆÃˆ˜} Ì i ˜ii` vœÀ
ˆ˜VÀi>Ãi` vœVÕà œ˜ Ì i “i˜Ì>‡ i>Ì ˆ“«>VÌ œ˜ Ì iˆÀ
i“«œÞiià >˜` Vœ““Õ˜ˆÌˆið

IRMSA RISK REPORT • SOUTH AFRICA RISKS • EIGHTH EDITION 19