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Unisan's input key to successful National Risk Report

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On 2 July 2024, the Institute of Risk Management South Africa (IRMSA) launched the 10th edition of its National Risk Report for the period 2024/25.

Kedibone%20Thantsha

Kedibone Thantsha

The in-depth expertise in the higher education sector of Kedibone Thantsha, a Certified Risk Management Practitioner and Risk Specialist within Unisa’s Department of Risk and Compliance, was instrumental to the report's success.

Comments Thantsha: "This comprehensive document examines a multitude of economic sectors, including education, through various analytical lenses such as functional state dynamics, social security, climate considerations, and skills development." She further explains that the report provides a geographical analysis of economic performance, outlook, and risks across global, African, and Southern African Development Community (SADC) contexts.

The various base reports were consolidated by collaborative working groups composed of risk management professionals, who expertly identified and assessed potential risks. "This process," says Thantsha, "aims to empower organisations to mitigate threats while capitalising on strategic business opportunities. This multi-faceted approach underscores the interconnectedness of risks across industries, emphasising that risks do not exist in isolation. Industries are embedded within the communities they serve, whether as multinational corporations or regional trading entities engaged in imports and exports."

In recent years, the scope of risk management reports has broadened beyond high-risk industries, to other sectors encompassing moderate to low risks such as institutions of higher learning. For the higher education sector, the shift aligns with the Higher Education Act 101 of 1997 (amended 2024), the King IV Code of Governance Principles (2017) and the National Treasury Public Sector Risk Framework (2010).

"More so," says Thantsha, "this shift aligns with the progress towards the socio-economic goals outlined in the National Development Plan 2030 (NDP 2030) and the African Union Agenda 2063. Consequently, it is imperative for all stakeholders to engage with the IRMSA Risk Report to familiarise themselves with the recommended strategies for risk mitigation that can be integrated into their daily practices at a functional level/within the institution daily practices."

Click here to access the report.  

*Submitted by the Department of Risk and Compliance, Unisa

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Publish date: 2024/07/30

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