Gauteng faces a critical water crisis as Rand Water warns of potential depletion this summer. Riskonet Africa urges businesses to act now by reviewing risk exposures and insurance coverages.

A recent webinar hosted by SIGCyber of IITPSA emphasised the importance of Third Party Risk Management (TPRM) for mitigating cyber and broader business risks. Experts highlighted that managing third-party risks, beyond just cybersecurity, is essential for protecting sensitive information, reducing reputational, legal, and financial risks, and improving overall security.

The agriculture sector is vital for economic growth. It contributes 3% to GDP, supports 941,000 jobs, and generated US$13.2 billion in export revenue in 2023 – South Africa produces 10% of the global citrus production. But climate-induced changing weather patterns threaten the outlook for certain crop yields in 2024.

Andrew Aubin, Aon South Africa's regional GM for the coastal region, highlights the escalating challenges faced by small businesses in South Africa due to economic pressures, crime, and geopolitical uncertainties.

According to the Allianz Risk Barometer, business interruption is the top concern for the oil and gas sector in 2024, followed by energy crises, climate change, fire, explosions, and natural catastrophes. Addressing these risks is essential for business continuity and resilience.

One in three South African risk managers face threats when addressing public interest risks, says IRMSA. The organization supports the SIU's efforts in combating corruption, emphasizing the need for robust oversight to ensure accountability and transparency.