Page 23 - 2022 IRMSA Risk Report
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South Africa Risk Context

          SECTION 1: South Africa Risk Context continued


                                                              /À>`ˆÌˆœ˜>  ÃÌÀ>Ìi}Þ  `iÛiœ«“i˜Ì  ˆÃ  vœVÕÃi`
                                                              œ˜  VÕÀÀi˜Ì  ÃÌ>Ìi  ̜  ÃiÌ  vÕÌÕÀi  >“LˆÌˆœ˜]  LÕÌ
                                                              œÀ}>˜ˆÃ>̈œ˜Ã  ŜՏ`  iÝ«œÀi  “Տ̈«i  vÕÌÕÀià  ̜
                                                              i˜…>˜Vi ̅iˆÀ >LˆˆÌÞ Ìœ Ài“>ˆ˜ ÀiiÛ>˜Ì >˜` Àiȏˆi˜Ì
                                                              ̜ «œÌi˜Ìˆ> “>ÀŽiÌ `ˆÃÀի̈œ˜Ã >˜` ՘ViÀÌ>ˆ˜Ìˆið
                                                              1˜`iÀÃÌ>˜`ˆ˜} ̅i «>ÃÌ ˆÃ ŽiÞ Ìœ ˆ`i˜Ìˆvވ˜} ˆŽiÞ
                                                              “>ÀŽiÌ ÌÀi˜`à >˜` Li…>ۈœÕÀÃ] LÕÌ Ì…iÃi ˆ˜Ãˆ}…ÌÃ
                                                              ˜ii`  ̜  Li  œÛiÀ>Þi`  ܈̅  >˜  ՘`iÀÃÌ>˜`ˆ˜}  œv
                                                              future strategic scenarios.

                                                               œÃÌiÀÌ  Ã>ÞÃ\  º7…i˜  «iœ«i  œœŽ  >Ì  ̅i  vÕÌÕÀi]
         CLICK HERE
                                                              ̅i Ü>Þ Ì…iÞ Ì…ˆ˜Ž >LœÕÌ Ì…i vÕÌÕÀi V…>˜}ià q ˆÌ½Ã
       “Watch the full interview here”
                                                              Ài>Þ µÕˆÌi Lˆâ>ÀÀi°» /…ˆÃ Àiˆ˜vœÀVià ̅i ˜ii` vœÀ >
                                                              greater focus on strategic foresight, providing risk
                                                              >˜` œ««œÀÌ՘ˆÌÞ ˆ˜Ìiˆ}i˜Vi ̜ iÝiVṎÛià Ü ̅>Ì
           D D D r  M o r                                     they make more informed strategic decisions that
             r
               M
           Dr. Morne Mostert, at the Institute for
           Future Research, Stellenbosch University           >Ài  Vœ˜Ìˆ˜Õ>Þ  ÀiۈiÜi`°  -ÕV…  vœÀiÈ}…Ì  vœVÕÃiÃ
                                                              Liޜ˜` w˜>˜Vˆ> œÀ «ÀœwÌ Vœ˜Ãˆ`iÀ>̈œ˜Ã] ̜ >ˆ}˜
          The ESG mandate is a key topic of discussion        œÀ}>˜ˆÃ>̈œ˜Ã½ «ÕÀ«œÃi ̜ ̅i Ài>ˆÌÞ ˆ˜ ܅ˆV… ̅iÞ
          œ˜ > Lœ>À` >˜` iÝiVṎÛi >}i˜`>ð Ƃà ÜVˆiÌ>     operate, the communities they serve and their
          iÝ«iVÌ>̈œ˜Ã  ˆ˜VÀi>Ãi  Ài}>À`ˆ˜}  ̅i  Àœi  œv    impact on the environment.
          LÕȘiÃà ˆ˜ ÜVˆiÌÞ] œÀ}>˜ˆÃ>̈œ˜Ã >Ài ÀiVœ}˜ˆÃˆ˜}
          ̅i ˜ii` ̜ LiVœ“i Ài뜘ÈLi LÞ ˆ˜VœÀ«œÀ>̈˜}     1.10  Closing remarks
          ÃÕÃÌ>ˆ˜>LˆˆÌÞ  ˆ˜Ìœ  ̅iˆÀ  œÛiÀ>  ÃÌÀ>Ìi}ˆið  /…iÃi   7…ˆÃÌ  “>˜Þ  œv  ̅i  ŜÀ̇ÌiÀ“  ÀˆÃŽÃ  “>ÌiÀˆ>ˆÃˆ˜}
          ÃÌÀ>Ìi}ˆià  ÅœÕ`  vՏÞ  Vœ˜Ãˆ`iÀ  ̅i  LÀœ>`iÀ   vÀœ“  "6  ‡£™ …>Ûi Lii˜ “>˜>}i`] ̅i œ˜}iÀ‡
          impact on the environment and society in which      ÌiÀ“ ÃÞÃÌi“ˆV ÀˆÃŽ] ˆ“«>V̈˜} ̅i …i>ÀÌ œv ÃÕÃÌ>ˆ˜>Li
          œÀ}>˜ˆÃ>̈œ˜Ã  œ«iÀ>Ìi°  ƂVVœÀ`ˆ˜}  ̜   À°   œÀ˜i   LÕȘiÃà  ÃÌÀ>Ìi}Þ]  Vœ˜Ìˆ˜Õià  ̜  ˆ˜VÀi>Ãi°  /…i
          Mostert at the Institute for Future Research,       iÝÌiÀ˜>  ÀˆÃŽ  >˜`ÃV>«i  Vœ˜Ìˆ˜Õià  ̜  ˆ˜VÀi>Ș}Þ
          -Ìii˜LœÃV…  1˜ˆÛiÀÈÌÞ]  º/…ˆÃ  ˆ˜VÕ`ià  …œÜ     ˆ“«>VÌ  œÀ}>˜ˆÃ>̈œ˜>  «iÀvœÀ“>˜Vi]  «ÀiÃȘ}
          «iœ«i }iÌ >VViÃà ̜ w˜>˜Vi ̜ “>Ži ÕÃi œv œÕÀ      œÀ}>˜ˆÃ>̈œ˜Ã ̜ Li “œÀi Ài뜘ÈLi >˜` ˆ˜VÀi>Ãi
          goods and services. If we continue perpetuating
          ̅i Û>ÃÌ `ˆÃVÀi«>˜Vˆià >˜` ˆ˜iµÕ>ˆÌˆià ˜œÌ œ˜Þ ˆ˜   their impact on society and the environment – this
          -Ƃ] LÕÌ > >ÀœÕ˜` ̅i ܜÀ`] >˜` ̅i˜ ̅i LÀœ>`iÀ   ܅ˆÃÌ  “>˜>}ˆ˜}  VœÃÌà  >˜`  Àiȏˆi˜Vi  ˆ˜  >  ̜Õ}…
          iVœ˜œ“ˆV Àœi ̅>Ì Üi «>Þ Ìœ ÀivÀ>“i œÕÀ iVœ˜œ“ˆV   “>ÀŽiÌ i˜ÛˆÀœ˜“i˜Ì] ̅Õà È}˜ˆwV>˜ÌÞ «ÀiÃÃÕÀˆÃˆ˜}
          Vœ˜ÌÀˆLṎœ˜]  ̅i˜  Vœ“«>˜ˆià  v>Vi  ̅i  «ÀœÃ«iVÌ   revenues. To support informed decision making,
          œv  LiVœ“ˆ˜}  ՘ÃÕÃÌ>ˆ˜>Li°»  Ƃ˜  ˆ˜VÀi>Ș}       œÀ}>˜ˆÃ>̈œ˜>  ÃÌÀ>Ìi}ˆià  “ÕÃÌ  Li  “œÀi  ÀœLÕÃÌ°
          vœVÕà  œ˜  LÀœ>`iÀ  ÃÌ>Ži…œ`iÀ  iÝ«iVÌ>̈œ˜Ã]      /…iÞ  “ÕÃÌ  Ì>Ži  >  vœÀÜ>À`‡œœŽˆ˜}  ۈiÜ  œv  ̅i
          Liޜ˜`  Å>Ài…œ`iÀ  iÝ«iVÌ>̈œ˜Ã]  ˆÃ  VÀˆÌˆV>°   «œÌi˜Ìˆ> ÃVi˜>ÀˆœÃ ̅>Ì “>Þ «>Þ œÕÌ œÛiÀ ̅i ˜iÝÌ
                                                              5 to 10 years, and have a deeper understanding of
                                                              ̅i ÃÌÀ>Ìi}ˆV ÀˆÃŽ >˜`ÃV>«i] ŽiÞ ÀˆÃŽ ÃVi˜>ÀˆœÃ >˜`
          1.9  Critical importance of strategic               their impact on strategy and performance.
                 foresight

          /…i  }œL>  VÀˆÃˆÃ  …>à  Àiˆ˜vœÀVi`  ̅i  ˆ“«œÀÌ>˜Vi
          œv  œÀ}>˜ˆÃ>̈œ˜Ã  >V̈ÛiÞ  iÝ>“ˆ˜ˆ˜}  ̅i  vÕÌÕÀi
          and having strategic foresight, to remain
          ۈ}ˆ>˜Ì >˜` >}ˆi ˆ˜ >˜ iÛiÀ‡V…>˜}ˆ˜} }œL> ÀˆÃŽ
          >˜`ÃV>«i°   …>˜}i  >˜`  ՘ViÀÌ>ˆ˜ÌÞ  ˆÃ  Vœ˜ÃÌ>˜Ì]           The clarion call to risk managers is
          >˜`  œÀ}>˜ˆÃ>̈œ˜Ã  ŜՏ`  ÀiVœ}˜ˆÃi  ̅>Ì  “œÀi             to reinforce their strategic advisory
          ̅>˜  œ˜i  vÕÌÕÀi  ˆÃ  >Ü>Þà  «œÃÈLi°  /œ  …>Ûi  ̅i
          LiÃÌ V…>˜Vi œv ÃÕVViÃÃ] LÕȘiÃà i>`iÀà ŜՏ`               role within their organisations.
          ˆ˜ÛiÃ̈}>Ìi “Տ̈«i «œÃÈLi vÕÌÕÀià œÀ ÃVi˜>ÀˆœÃ
          to inform their priorities as part of their strategies.






                                                                  IRMSA RISK REPORT • SOUTH AFRICA RISKS • EIGHTH EDITION  21
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