South Africa has been receiving some poor international press coverage of late, and the 2019 Institute of Risk Management South Africa (IRMSA) Risk Report might have some insight into how this could affect the country moving forward.
The report assesses the current state of the nation and makes predictions based on how socio-political and economic circumstances in the present could impact SA in the future.
According to BusinessTech, the report highlights the 10 biggest possible risks facing South Africa in the years to come.
Let’s unpack them:
1. High Rates Of Unemployment
The country’s unemployment rate increased to 27,6% in the first quarter of 2019.
What that means is that roughly 6,2 million South Africans between the ages of 15 and 64 currently don’t have the means to support themselves or their families.
The burden of unemployment is concentrated among the youth between the age of 15 and 34 years.
Almost four in every 10 young people in the labour force do not have a job, noted Christopher Palm, chief risk advisor at Institute of Risk Management South Africa.
Where there’s unemployment, there’s income disparity.
2. Income Disparity
A new tool by…
