Page 16 - Risk Report 2024
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IRMSA
16 RISK REPORT 2024/25
Analyses of how South Africa's current socio-economic situation and risk profile affect the economic sectors that
direcly influence people's lives, confirm that the hardest hit sectors during an economic downturn will be those
where -
• new legislation is enacted;
• there are infrastructure shortages;
• industries are carbon intensive;
• industries are energy intensive; and
• industries are water intensive.
It is strongly recommended that the sector specific information included in the Report be used to encourage
inclusive sector and national policy debates that will result in alleviation of immediate pressures to unlock the
economy as the basis for improving the overall quality of life for South African citizens. Leveraging economic
value creation from the least vulnerable and most resilient sectors could provide breathing room (time, people,
and funds) to stabilise the most vulnerable and least resilient sectors.
In the absence of safety, survival instinct kicks in and ‘everyone is in it for themselves’. In this scenario, the only
logical outcome is increasing poverty and decreasing safety. The only way to create safety, is for leaders at all
levels in society to insist on the right behaviours that create safe spaces where ‘everyone is leading from where
they stand’. If people’s behaviours don’t change, the risk profile won’t change, and our future scenarios won’t
change. In reflecting on what most threatens our future, our concluding call is that we must find ways to do less
bad and more good, with what we have and where we are. Our alternative is increasing acceptance of mediocrity
and ultimate decline.
Self-actualisation
desire to become the most that one can be
Esteem
Respect, self-esteem, status, recognition,
strength, freedom
Love and belonging
friendship, intimacy, family, sense of connection
Safety needs
personal security, employment, resources,
health, property
Physiological needs
air, water, food, shelter, sleep, clothing,
reproduction