In its 9th annual report on risks in South Africa, the South African Risk Management Institute (IRMSA) warned on Thursday that South Africa has been grappling for several years with a sharp increase in riots, demonstrations, and social unrest.
The report stressed that “One of the greatest risks facing the country is growing social unrest, fuelled by socio-economic pressures that have persisted for almost a decade”.
Presenting the report, the institute’s chief risk adviser, Christopher Palm, said that over the past eight years, South Africa has faced recurring risks that have persisted and intensified, setting the stage for the current situation, adding that “Economic challenges include stagnant growth, high unemployment, and persistent inequality, which have been consistently cited as the main risks facing the country for years,”.
The IRMSA said there was an urgent need for South Africa to collectively address these risks, in particular the impact of climate change, the persistent energy crisis, and the deteriorating infrastructure situation.
To meet these challenges, the country needs “ethical leadership”, he argued, noting that if the issues raised are not addressed, “the consequences of the poly-crisis could lead South Africa to become a failed state”.