Accounting firm moves to advance enterprise risk management practices in Africa

Leading accounting and advisory firm Kreston Pedabo has launched a continent-wide survey aimed at deepening understanding of how African organisations are adopting Enterprise Risk Management (ERM) in today’s increasingly complex and unpredictable business environment. The firm is calling on business leaders, risk managers, and other key stakeholders to participate and share their perspectives on ERM […]

Leading accounting and advisory firm Kreston Pedabo has launched a continent-wide survey aimed at deepening understanding of how African organisations are adopting Enterprise Risk Management (ERM) in today’s increasingly complex and unpredictable business environment.

The firm is calling on business leaders, risk managers, and other key stakeholders to participate and share their perspectives on ERM maturity, challenges, and opportunities.

The survey, accessible at https://forms.office.com/r/hcSfJbrs6E, is designed to help organisations benchmark their risk management practices while identifying areas where further improvement or support may be needed. Kreston Pedabo believes the insights generated will encourage stronger board-level engagement and reposition ERM as a value-creating strategic discipline, rather than a mere compliance obligation.

Experts continue to warn that organisations lacking robust ERM frameworks may struggle to respond effectively to shocks ranging from financial disruptions to regulatory or reputational crises. A mature ERM structure allows leaders to proactively identify, assess, and mitigate risks, supporting better decision-making and helping to preserve long-term value.

According to Kreston Pedabo, an effective ERM programme aligns risk considerations with strategic planning, improves resource allocation, and builds resilience by preparing organisations for crisis response and continuity measures. Beyond enhancing stability and performance, ERM also strengthens governance, improves regulatory compliance, and demonstrates accountability to boards, investors, regulators, and other stakeholders.

A strong ERM culture encourages ownership of risk at all organisational levels, fostering transparency and a clear understanding of risk appetite, which ultimately supports more consistent financial performance and protects critical assets.

Despite these clear benefits, ERM remains underdeveloped in many African businesses, hindered by limited board-level awareness, weak regulatory drivers, and resource constraints.