- 8th annual survey globally on top business risks sees record participation of 2,415 experts from 86 countries
- Volatility, intensified competition, market stagnation and fluctuation is a #1 business risk in Africa
- Political risks and violence has a huge impact on businesses in Africa, ranking at #2 with 30% responses
- Cyber crime, IT failure/outages, data breaches, fines and penalties is a #3 business risks in Africa
- New emerging risks include new technologies such as the impact of increasing connectivity and artificial intelligence.
In the wake of mega data breaches and privacy scandals, major IT outages and the introduction of tighter data protection rules in the European Union, South Africa and other countries, cyber risk is now a core concern for businesses in 2019 and beyond. According to the Allianz Risk Barometer 2019, Cyber incidents (37% of responses) are neck-and-neck with Business interruption (BI) (37% of responses) as the top business risks globally Climate change (#8 with 13% of responses) and Shortage of skilled workforce (#10 with 9% of responses) are the biggest climbers globally. At the same time companies are more worried year-on-year about…
