Page 163 - Risk Report 2024

IRMSA
163
RISK REPORT 2024/25

12. Definitions, references and

abbreviations

AfCFTA African Continental Free Trade Area
2023 AFMI Absa Africa Financial Markets Index, 7th Edition 2023
AI Artificial Intelligence
bn Billion
BCP Business Continuity Plan (including Emergency Preparedness, Crisis Response, Recovery Plans)
capex Capital Expenditure
CIPA Critical Infrastructure Protection Act
COVID-19 Pandemic disease caused by coronavirus 2 (SARS-CoV-2)
CRO Chief Risk Officer
CIP Critical Infrastructure Project
CSI Corporate Social Investment
DHA Department of Home Affairs
DHET Department of Higher Education and Training
DMRE Department of Mining, Resources, and Energy
DOC Department of Communications
DPME Department of Planning, Monitoring, and Evaluation
DRC Democratic Republic of Congo
DWS Department of Water and Sanitation
ESG Environmental, Social and Governance
EU European Union
FATF Financial Action Task Force
FDI Foreign Direct Investment
GDP Growth Domestic Product
ICT Information and Communications Technology
IRMSA Institute of Risk Management South Africa
HIV Human Immunodeficiency Virus
Long-term More than 5 Years
m Million
Medium-term 3 to 5 Years
NDP National Development Plan Vision 2030
NHI National Health Insurance
NIP National Infrastructure Plan
OMFIF Official Monetary and Financial Institutions Forum
opex Operational Expenditure
p.a. Per annum
Permacrises A long period of unresolved difficulty, confusion, or suffering.
Polycrisis An accumulation of multiple, compounding, and interconnected crises
POPIA Protection of Personal Information Act
PPP Public-Private Partnership
Risk The effect of uncertainties on objectives (ISO 31 000:2018)
SA South Africa
SADC Southern African Development Community
SARB South African Reserve Bank
SAQA South African Qualifications Authority
SDGs United Nations Sustainable Development Goals
Short-term Within 3 Years
SOE State-Owned Enterprise
SSA Sub-Saharan Africa
tn Trillion
WEF 2024 Risk Report World Economic Forum, 19th Edition Global Risks Report 2024