The Minister of Finance and Development Planning, Dr Rets’elisitsoe Matlanyane led the official launch of the Institute of Risk Management South Africa(IRMSA) Lesotho chapter.
Speaking at the event, she said it is a refreshing moment as the Risk Management sector is maturing well lately in everyday work albeit with little recognition.
She stated that the rise and fall of institutions on governance rely on risk management which she said requires institutions to reflect on how well issues related to risk management can be effectively implemented.
Furthermore, she said challenges like climate change, geo political conflicts and health disasters are some of the factors to take into consideration for risk management policies to ensure that the challenges are attended to for the benefit of the nation.
“The key priority for the government is to get institutions into the right track by ensuring professionalism within institutions through risk management activation”, she added.
On the other hand, the Chief Executive Officer of IRMSA Mrs Yvonne Mothibi said issues related to artificial intelligence seem to be dominating the work sector whereby 50 percent of employees are facing a possibility of recusal from their jobs.
She indicated that this challenges force institutions to consider improving their effectiveness on issues of risk management.
Similarly, IRMSA Lesotho Chapter Committee Chairperson, Mr Tseko Moleko said the launch enables the country to reflect on how far it has gone in terms of risk management. He stated that increasing uncertainties require institutions to consider who they do business with.
Risk Management has been identified as one of the key priorities that the government needs to to put forth to ensure that issues such as fraud, corruption and cyber security are addressed.
Source: Lesotho News Agency (LENA) 19/9/2024
