Tag: Aon South Africa

Any business relying on machinery and equipment for its operations is exposed to the probability of significant financial losses due to a breakdown of a key piece of machinery that isn’t quickly or easily replaced or repaired.

Employee benefits such as a retirement fund, healthcare insurance, medical scheme membership, group life and disability benefits are pre-negotiated and agreed upon as part of the employment process and contracting. Typically, these benefits remain in place until the employee-employer relationship concludes through resignation, dismissal, retrenchment, retirement or death.

South Africa joins over 60 countries that will head to the polls in 2024, with heightened risks for civil unrest reminiscent of July 2021 top of mind. 2024 has been dubbed the election year, with voters in more than 64 countries heading to the polls.

With an economic growth forecast of only 1.6% over the next three years for South Africa, businesses are facing a tough trading environment, exacerbated by the impact of geopolitical tensions, disruptive new technologies, persistent weather catastrophe threats and failing public infrastructure and services.

In the intricate practice of risk management, a perplexing paradox unfolds where organisations engage in risk management practices that replicate their previous risk strategies, and still expect a different or improved outcome. Sometimes the cost of consequences is left to chance, perpetuating an 'ostrich effect' where it’s hoped that somehow cutting costs on essential risk management principles will yield viable savings.

Mining is a historically linear process – we take materials from the earth, make products from them and eventually throw them away as waste. With the intensification of climate change, environmental degradation, pollution – all products of linear economies – the mining industry needs to transition to a circular economy.

As the global energy landscape undergoes a transformative shift, hydrogen emerges as a compelling substitute for traditional fossil fuels, poised to play a pivotal role in the evolving energy transition. With the energy transition market valued at US$183 billion in 2022 and anticipated to surge to US$317 billion by 2032, hydrogen stands out as a key player in this dynamic evolution.

South Africa is currently experiencing challenging political and economic conditions, which has a direct impact on the financial and trading performance of businesses. Vulnerabilities to external shocks have also converged at the worst possible time in our post-pandemic economy, with the impact rapidly manifesting in financing becoming more difficult to secure, more expensive and dwindling foreign direct investment.

In our 2022 Insurance State of the Market report, we have unpacked key global insurance market trends as well as local trends that are affecting the insurance market in a volatile and unpredictable world.

As South Africa braces itself to reach the peak in the fight against the coronavirus pandemic, Government statistics have shown that the country could reach 400,000 infections by mid-July. While lockdown conditions may have been eased to level 3 for now, South Africa, and much of the world, is nowhere near the end of the pandemic, and the economic and health repercussions of COVID-19 are going to persist for months to come.