Organisations face a myriad of risks emanating from among others, operating in an increasingly complex and volatile environment. The ongoing COVID-19 pandemic has caused organisations to become even more vulnerable to risks. Traditional risk management approaches have been found ineffective in driving organisational success in this 21st century and during the on-going pandemic. Organisations are therefore more concerned with how to respond to this crisis with a view to stabilise, optimise business outcomes, and transform themselves for survival and sustainable growth. In this regard, Enterprise Risk Management (ERM) is fundamental in building organisational resilience amidst the ever-changing operating environment.
It is against this background that the MEFMI through its commercial arm, the Business Development Unit (BDU), conducted a virtual training workshop on ERM from 30 August 2021 to 3 September 2021. The main objective of the workshop was to impart knowledge to participants on the fundamentals of ERM as a basis for integrating risk management in their daily operations and decision-making processes for business continuity and long-term sustainability.
The workshop was attended by 47 participants (32 males and 15 females) at the officer, manager, deputy director and director levels, drawn from Central Banks, government ministries, and private sector of the following countries: Botswana, Eswatini, Lesotho, Malawi, Mozambique, Seychelles, Uganda, and Zimbabwe. With the knowledge acquired from the workshop, the participants are expected to become risk champions in their organisations by providing leadership in the development and implementation of effective ERM systems and frameworks.
The workshop was facilitated by two experts on ERM, namely, Messrs. Hamish Chipungu and Themba Mazibuko.