Page 34 - IRMSA Risk Report 2023
P. 34

CHRIS YELLAND









                     6.6    AREAS OF FOCUS




                            Deresh Lawangee, thinks that the increasing cost of capital is a risk area for
                            businesses in the very short term. Says Lawangee: “If you get to make sure that
                            your business is immune to that, that you can operate in that type of environment.
                            Also, immediately with the energy crisis, you’ve got to make sure that your business
                            and your operations are not going to be affected by the lack of electricity in the
                            country.”

                            Kiren Maharaj, expands on this statement, saying: “Again, I think that to accelerate
                            the decarbonisation of the economy and to embrace that aggressively is a smart
                            move to achieve energy security, but also to protect the economy and the
                            environment.”

                            Advocate Kevin Malunga believes that knowledge truly is power, and it is crucial
                            to avoid simply going through the motions of compliance without fully considering
                            the impact of our actions or inactions on risk.

                            Chris Yelland, well known journalist, energy expert and consultant amplifies this
                            comment by Advocate Malunga by pointing out the fragile state of the social
                            fabric of society in South Africa.  People are worried, scared and sensitive and
                            these fears present very real risks and consequences.

                            “I suggest that the social fabric of society in South Africa, right now, is very delicate
                            and driven by very high levels of poverty, inequality and unemployment.

                            These  are  significant  drivers  of  people’s  social  wellbeing,  mental  and  physical
                            health and sense of worth. There is significant discontent on the ground, in the
                            poor areas specifically, about feeling neglected”. Yelland continues by highlighting
                            the fact that it goes beyond just the obvious challenges such as not having access
                            to electricity, water, housing and other services. It requires consideration of the
                            interconnectedness of things that may seem obvious and mundane to some but
                            for others, it leads to social bankruptcy. We need to be innovative and act with
                            creativity if we wish to achieve different results as in the end poverty, unemployment
                            and inequality will be fuelling a potential flashpoint.









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