Firm Launches Drive To Strengthen Enterprise Risk Management Practices Across Africa

Leading accounting and advisory firm Kreston Pedabo has initiated a continent-wide survey to deepen insights into how African organisations are adopting Enterprise Risk Management (ERM) in today’s increasingly complex and uncertain business landscape.

The firm is inviting business leaders, risk managers, and other critical stakeholders to participate and share their views on ERM maturity, challenges, and opportunities.

The survey, available at https://forms.office.com/r/hcSfJbrs6E, will help organisations benchmark their risk management practices and pinpoint areas for improvement or additional support. Kreston Pedabo believes the findings will drive stronger board-level engagement and position ERM as a strategic, value-creating discipline rather than a mere compliance requirement.

Experts continue to warn that organisations without robust ERM frameworks risk being unprepared for shocks, whether from financial disruptions, regulatory changes, or reputational crises. A mature ERM structure empowers leaders to proactively identify, assess, and mitigate risks, leading to stronger decision-making and safeguarding long-term value.

According to Kreston Pedabo, an effective ERM programme should integrate risk considerations into strategic planning, optimise resource allocation, and bolster resilience through crisis preparedness and continuity measures. Beyond stability and performance, ERM enhances governance, regulatory compliance, and demonstrates accountability to boards, investors, regulators, and other stakeholders.

Cultivating a strong ERM culture also promotes risk ownership at every organisational level, fostering transparency and a clear understanding of risk appetite. This ultimately supports more consistent financial performance and protects critical assets.

Despite these clear benefits, ERM remains underdeveloped in many African businesses, often constrained by limited board-level awareness, weak regulatory incentives, and resource challenges.