HARARE – POLITICAL uncertainty through government transitions and large scale cyber-attacks have emerged the key risks for businesses in Southern Africa in the coming year.
This is according to specialist global risk consultancy, Control Risks, which pointed out political instability in such countries as South Africa, where new leadership were elected for the ruling African National Congress, and in Zimbabwe where Robert Mugabe was ousted from office last month.
Mugabe’s former deputy, Emmerson Mnangagwa, is the new president while South Africa’s deputy, Cyril Ramaphosa assumes leadership at ANC presidency.
In Angola, João Lourenço, has replaced long-time president, José Eduardo dos Santos.
“2018 will see continued uncertainty around political leadership in our Southern African markets,” Control Risks’ Senior Partner for Southern Africa George Nicholls, said.
“The transitions in Zimbabwe and Angola in 2017, elections in Mozambique in 2018, and factionalism within South Africa’s ruling African National Congress (ANC) once again remind businesses in the region of the importance of gaining a clear understanding of the impact of such uncertainty on their risk environment.”
Meanwhile, Control Risks said cyber-attacks against infrastructure would also be a deterrent.
The organisation described 2017 as “the year of major but random disruptive attacks.”
“2018 could see the likes of WannaCry, NotPetya and BadRabbit recur, but in a more powerful, targeted and disruptive manner. National infrastructure systems are particularly at risk,” Nicholls said.
– CAJ News