Page 62 - IRMSA Risk Report 2023

TOP 5 CHALLENGES TOP 5 RISK TREATMENT OPTIONS AND OPPORTUNITIES

TARGETS ▶

TO ACHIEVING ▶
Failure to resolve the energy Accelerate the execution of the national strategy to restructure the national power
crisis that is resulting in utility and introduce new players in energy generation, while transitioning the country
degradation in the quality of 01. to renewable energy sources. Private enterprises are to seek opportunities to become
persistent service outages and

digital services. less reliant on state-provided energy.

Lack of investment in digital Leverage strong private-public partnerships to promote local digital infrastructure
infrastructure required to investment.
support digital services 02. Provide regulation, incentives and favourable policies for private-sector participation,
and lower costs of access to enable competitive and universally accessible digital services.
(communications networks,
data centres, security centres).

Restrictive or inadequate Review, amend or create national policies to support digital transformation. This would
policies that do not promote 03. include ensuring that fair intellectual-property laws and data-protection regulation is
investment, competition and in place. A step further would be to introduce compelling subsidies and grants in the
local innovations. technology sector, as an effective way to increase innovation and productivity.

Inadequate response to cyber-
crimes and crimes to critical
infrastructure. For example:
online scams, ransomware Clear and visible action taken by the regulators for cyber and technology-related
cables and the theft of cell 04. crimes.
extortion, the theft of power
A dedicated policing effort, to secure digital infrastructure.
phone tower batteries. Increased multi-sector and international collaboration to better respond to threats (for
The negative economic example: intelligence centres).
environment and rising cost
of living has given rise to illicit
economic activity.

Failure to develop local Strengthen partnership between academia and industry to identify and develop skills
specialist digital skills that are required, with a focus on science, technology, research and entrepreneurship.
required to support business 05. Strategic partnership with international industries to enable knowledge transfer and
objectives (for example: secondary innovations. State-sponsored digital awareness and education initiatives for
security, data analytics, ordinary citizens.
programming skills, etc.)

62 IRMSA RISK REPORT 2023/24