Search results for: reliance

  • Business interruption ranks #1 with 42% of responses.
  • Data breaches, attacks on critical infrastructure or physical assets and increased ransomware attacks drive cyber concerns to #2 with 38% of responses.
  • Product recall, quality management, serial defects features as a new risk in #3 with 32% of responses.

Johannesburg, March 25, 2024 – Business interruption and cyber incidents are the primary concerns for the manufacturing sector within the automotive industry in 2024, according to the Allianz Risk Barometer. The report, based on insights from over 3,000 risk management professionals and business leaders, highlights the growing importance of addressing these risks to ensure business continuity and safeguard against potential disruptions.

Despite a slight easing of post-pandemic supply chain disruption in 2023, Business interruption continues to hold its position as the number one threat for automotive manufacturing, with 42% of respondents expressing concern. Cyber incidents and natural catastrophes are the top two causes of business interruption feared most by companies, followed by fire and machinery/equipment breakdown or failure. These results underscore the interconnectedness and volatility of the global business environment, as well as the reliance on supply chains for critical products or services. Consequently, improving business continuity management, identifying supply chain bottlenecks, and developing alternative suppliers remain key risk management priorities for companies in 2024.

The COVID-19 pandemic and its subsequent disruption to supply chains have served as a wake-up call for companies. Compared to pre-pandemic times, businesses are now better prepared for business interruption or supply chain events. According to the Allianz Risk Barometer, the most common actions taken to de-risk supply chains include developing alternative suppliers (60% of responses), improving business continuity management (42%), and identifying and remediating supply chain bottlenecks (37%).

According to the Allianz Trade’s Automotive sector risk report, the automotive market is expected to normalize this year as demand loses momentum following a strong rebound in 2023. The growth of new auto registrations is expected to slow down to +1.9%. New auto registrations saw a significant recovery in 2023 as Covid-induced supply-chain disruptions eased, and pent-up demand released. Additionally, resilient economic growth and strong, albeit slowing, growth in EVs fuelled car sales - total global auto registrations increased by +11.3% to nearly 88mn, though is still below pre-pandemic levels.

For the second consecutive year, Cyber incidents rank as the second most important risk in automotive manufacturing, with 38% of respondents expressing concern. The recent surge in ransomware attacks saw insurance claims activity increase by over 50% compared to 2022. Hackers are increasingly targeting IT and physical supply chains, launching mass cyber-attacks, and finding new ways to extort money from businesses. As a result, early detection and response capabilities and tools are becoming increasingly crucial. Investment in detection backed by artificial intelligence is expected to enhance incident identification. Without effective early detection tools, companies may experience longer unplanned downtime, increased costs, and a greater impact on customers, revenue, and reputation.

“Cyber criminals are exploring ways to use new technologies such as generative artificial intelligence (AI) to automate and accelerate attacks, creating more effective malware and phishing. The growing number of incidents caused by poor cyber security, in mobile devices in particular, a shortage of millions of cyber security professionals, and the threat facing smaller companies because of their reliance on IT outsourcing are also expected to drive cyber activity in 2024, “explains Santho Mohapeloa, Cyber Insurance Expert, Allianz Commercial.

Product recall, quality management, and serial defects emerge as a new risk at #3 with 32% of respondents identifying it as a concern. The automotive sector bears the brunt of product recall losses, accounting for over 70% of the value of all losses. The increasing complexity of supply chains and stricter regulations contribute to the rising impact of product recalls on companies' financials and reputations. With recalls affecting a higher number of units, driven by factors such as faster speed-to-market and outsourcing of research and development, the automotive sector remains a frequent driver of claims.

As the automotive manufacturing sector faces these risks head-on, companies must prioritize risk management strategies and enhance their resilience. By proactively addressing Business interruptionCyber incidents, and Product recall risks, companies can safeguard their operations, reputation, and bottom line.

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View the Allianz Risk Barometer methodology and full global and country risk rankings

About the Allianz Risk Barometer

The Allianz Risk Barometer is an annual business risk ranking compiled by Allianz Group’s corporate insurer Allianz Commercial, together with other Allianz entities. It incorporates the views of 3,069 risk management experts in 92 countries and territories including CEOs, risk managers, brokers and insurance experts and is being published for the 13th time.

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For further information please contact:
Johannesburg: Lesiba Sethoga
Tel. +27 112 147 948
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About Allianz Commercial
Allianz Commercial is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks. Among our customers are the world’s largest consumer brands, financial institutions and industry players, the global aviation and shipping industry as well as family-owned and medium enterprises which are the backbone of the economy. We also cover unique risks such as offshore wind parks, infrastructure projects or Hollywood film productions. Powered by the employees, financial strength, and network of the world’s #1 insurance brand, as ranked by Interbrand, we work together to help our customers prepare for what’s ahead: They trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services, as well as seamless claims handling. The trade name Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either through our own teams or the Allianz Group network and partners. In 2022, the integrated business of Allianz Commercial generated more than €19 billion gross premium globally.

 These assessments are, as always, subject to the disclaimer provided below.

 Cautionary note regarding forward-looking statements

This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.

Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in Allianz’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation with respect to the Allianz Group, other well-known companies and the financial services industry generally, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR/USD exchange rate, (x) changes in laws and regulations, including tax regulations, (xi) the impact of acquisitions including related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

No duty to update: Allianz assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.

Privacy Note: Allianz Commercial is committed to protecting your personal data. Find out more in our privacy statement.

In the digital age, where technology is intertwined with every facet of our lives, ensuring our computers are in optimal health is paramount. Enter Tech2Desk, the revolutionary service that’s fast becoming the medical aid for PCs, offering a comprehensive care package that keeps your technology not just running, but thriving.

Just as medical aid plans are designed to keep us healthy, prevent illness, and ensure access to treatment when we need it, Tech2Desk provides a similar safety net for our computers. With an ever-increasing reliance on technology for both personal and professional use, having a service that acts as a guardian for your PC’s wellbeing is more crucial than ever.

Preventive Measures and Immediate Care

Much like regular health check-ups, Tech2Desk offers preventive measures to ensure your computer’s longevity. Through regular maintenance, updates, and security checks, Tech2Desk works tirelessly to prevent issues before they arise, mirroring the preventive care we seek for our own health.

However, when problems do surface, Tech2Desk’s rapid response mimics that of emergency medical services, providing swift, expert care to diagnose and treat issues without the need for lengthy downtime. This immediate care is crucial in today’s fast-paced world, where even a small hiccup in our technology can lead to significant disruptions in our daily lives.

Inexpensive Fixed Monthly Fee with AI-Assisted Support

Tech2Desk’s approach to IT support is refreshingly simple and user-friendly. By eschewing the traditional models of hourly rates and long-term contracts, Tech2Desk offers its services for an inexpensive fixed monthly fee per PC. This model not only provides businesses and individuals with unlimited support for all their computer issues and needs but also ensures that there are no unexpected bills — much like a comprehensive medical aid plan where you know exactly what you’re covered for and can access services without fear of hidden costs.

Moreover, Tech2Desk’s support is bolstered by AI-assisted capabilities, enhancing the efficiency and effectiveness of the service. Through intelligent algorithms and machine learning, Tech2Desk is able to provide even faster issue resolution, proactive system monitoring, and predictive maintenance, ensuring that your PC stays in optimal health at all times.

Customized Care for Every Need

Understanding that every business and individual has unique needs, Tech2Desk’s team of specialist technicians works closely with clients to develop custom solutions. Whether it’s setting up a new network, troubleshooting software issues, or providing cybersecurity guidance, Tech2Desk tailors its services to meet each client’s specific requirements, much like a medical specialist would tailor treatment to a patient.

A Trusted Partner in Your PC’s Health

Tech2Desk’s commitment to excellence and customer satisfaction has made it a trusted partner for businesses of all sizes. Its innovative approach to IT support has saved its clients thousands of dollars in unexpected bills, highlighting the value of having a reliable ‘medical aid’ for your PC.

As technology continues to evolve and become even more integral to our daily lives, the importance of keeping our digital devices in top health cannot be overstated. Tech2Desk stands at the forefront of this movement, offering a comprehensive, worry-free service that ensures our PCs are always in peak condition, ready to support us in all our endeavors.

In conclusion, just as we invest in medical aid to safeguard our health, investing in a service like Tech2Desk is essential for anyone looking to protect and optimize their technological assets. Tech2Desk is not just a service; it’s peace of mind, ensuring that our digital lifelines are always in the best hands.

 TECH2DESK | AMVIRAL

Wednesday, 06 March 2024 09:20

Print and its pride of place in education

The role of print in enhancing the education sector 

Reports of matriculants battling to complete their final exams due to poor print quality of exam papers, is another clear indication of the education sector’s reliance on print.

While classroom learning, thanks to technology, has moved far beyond the era of overhead projectors and chalkboard dust, the role of print and paper will forever have its place in school learning.

This is a contentious statement for many, who believe that print is an outmoded way of producing and consuming learning materials, believing that e-learning is the only way learners will get ahead – especially in a digital era. In their 2019 annual letter, Bill and Melinda shared a similar sentiment saying that textbooks would soon be obsolete.

The South Africa reality however, paints a very different picture.

Screens have their limitations

There are advantages to digital learning compared to traditional textbook learning, including increased engagement. However, it's important to note that digital screens are not the only effective solution for educating our children. Several research studies have demonstrated that people tend to comprehend more from printed learning materials than their digital versions. This is because digital screens can cause distractions such as pop-ups, or easy access to social media and email, which can draw readers away from the main content. In contrast, when reading printed texts, readers can fully immerse themselves in the material, leading to a better understanding and retention.

We are all aware of the potential risks involved with allowing young children to spend too much time in front of screens for entertainment, while we try to get some work done or simply take a break. Excessive screen time can lead to eye strain and headaches and has also been linked to increased symptoms of attention deficit hyperactivity disorder (ADHD) in children. Moreover, blue light exposure caused by screens can disrupt also sleep patterns.

The digital divide

The integration of digital technology in schools has heightened the digital divide in South Africa. Almost 80% of students are unable to afford tablets and laptops to access educational materials. However, using print materials can create cost-effective and engaging learning experiences that are accessible to all learners, irrespective of their socioeconomic background.

“Print will always have pride of place in the education field, not only because access to the internet and digital resources limited for so many communities of learners in South Africa, but because print is an efficient, conducive medium for learning. You can read a book or complete a worksheet anywhere, but you are at the mercy of everything from connectivity access to battery life when relying on digital platforms for learning,” says Timothy Thomas, Epson South Africa Country Manager.

Creating the next generation of eco heroes

Epson believes that sustainability and technology must come together to drive social change. To demonstrate this principle, the company consistently develops products and initiatives that align with environmental objectives. With Epson Heat-Free printers, energy consumption is significantly reduced, compared with laser printers, and with the option of double-sided printing, paper wastage is instantly reduced.

Published in Science and Education

Msizi Mhlongo | SchoemanLaw Inc   

Category: Civil Litigation and Alternative Dispute Resolution 

Introduction 

Can a default judgment that has been subject to rescission applications be appealed by a party? 

In the matter of Road Accident Fund v Gonsalves (14756/2017) [2024] ZAGPJHC 130 (7 February 2024), Judgment by default was granted against the Road Accident Fund (“the RAF”) in May 2022. Almost a year after the judgment date, the RAF launched an application for leave to appeal the default judgment, and condonation for the late filing of the application.  

The Appeal 

The RAF sought only to appeal the loss of earnings award – by far the largest part of the quantum. Ms Gonsalves raised a point in limine that it was not open to RAF to appeal the judgment when it was still open to rescission, and the court requested submissions on the issue of appealability. 

Condonation of Appeal 

Justice Yacoob (“the Justice”) considered Ms Gonsalves’ contention regarding the condonation application that the delay was unreasonable, that the RAF’s defence had been struck out in October 2021, due to its non-compliance with the rules and applicable practice directives, and the RAF did not seek to have the order rescinded, and the RAF’s assertion in its affidavit in support of the condonation application that in February 2023 it was under the impression that an application for rescission was appropriate, but its applications for rescission had been unsuccessful.  

Rescission 

The Justice noted that the success or failure of other applications for rescission was irrelevant, that each rescission application was considered on its own merits, and that RAF did not disclose how many applications for rescission it had brought, and what the reasons for the failures were. She discussed Pitelli where the Supreme Court of Appeal held that an order is not final until the court of first instance is incapable of revisiting the order, and that since an order taken in the absence of one party is open to being revisited, it is ordinarily not appealable until an application for rescission has been unsuccessful.  

The Justice considered the obiter dictum in Sparks, distinguished Moyana (relied on by the RAF), and considering RAF’s reliance on Mogorosi, she pointed out that the question at this stage was whether the order RAF sought to challenge, is at this stage final and therefore appealable – and that she was satisfied that it was not. She recorded that even if it were open to RAF as a litigant to change the status of the order by its own preference, by following the line of case law which begins with Sparks, there was no explicit waiver in the application for leave or in the affidavit filed in support of the application for condonation, and that she was doubtful that RAF could simply rely on the fact that it had brought an application for leave to ask the court to infer that it had waived a right to apply for rescission.  

Effluxion of time 

On the effluxion of time, the Justice pointed out that the RAF was as much out of time for an application for leave to appeal as it was for an application for rescission, and would have to obtain condonation either way, so that did not weigh on either side of the debate.  

The Justice noted that there may be some circumstances where it was appropriate that an order that was still open to rescission should be appealable, but she did see that any such circumstances are present in casu. The application by the RAF was dismissed with costs. 

Conclusion:  

For parties subject to litigation, it is of paramount importance to ensure that you comply with the Rules, more especially when time limits are involved, in order to avoid matters being struck off the roll and incurring a costs order.  

Msizi Mhlongo | SchoemanLaw Inc
Attorney
https://schoemanlaw.co.za/our-services/civil-litigation-and-alternative-dispute-resolution/ 

Navigating the Fiscal Pathways:

Insights into South Africa's 2024 Budget and Its Trajectory.

Dr. Chris Blair CEO of 21st Century weighs in…

“In the unfolding narrative of South Africa's economic landscape, the 2024 budget speech by Finance Minister Enoch Godongwana stands as a pivotal chapter, articulating a fiscal strategy meticulously designed to navigate the tumultuous waters of economic uncertainty without resorting to the imposition of onerous tax burdens. By electing to leverage the nation's Gold & Foreign Exchange Contingency Reserve Account for significant funding, the strategy underscores a commitment to fiscal prudence whilst eschewing major tax hikes, a move that notably sustains the VAT, wealth tax, and levies on fuel and the Road Accident Fund at their current levels for an unprecedented third consecutive year.

“This budget, with its tempered optimism, projects a gradual ascension in economic growth, from a modest 0.6% in 2023 to an anticipated 1.8% by 2026, alongside a promising reduction in consumer price inflation. The government's fiscal blueprint envisages the attainment of a primary budget surplus, underpinned by strategic tax adjustments aimed at mitigating fiscal pressures, including the adoption of a global minimum corporate tax of at least 15% and fostering incentives for the burgeoning electric vehicle sector.

“Yet, the essential question arises – what ramifications does this budget hold for the typical South African? The multifaceted implications of the budget reveal a tapestry of impacts. On one hand, the restraint of significant tax increments offers a semblance of relief amidst prevailing economic fluctuations, while on the other, the strategic utilisation of reserve funds to augment public sector wages in critical services heralds a reinforced allegiance to social expenditure.

“Delving deeper into the individual impacts, the decision to maintain the current VAT rate alongside unchanged wealth tax and levies directly influences the cost of goods and services, thereby stabilising consumer expenses. However, the absence of adjustments in personal income tax tables to counter inflationary pressures ominously looms as a potential detriment to disposable incomes, heralding the phenomenon of "bracket creep" and the consequent erosion of real disposable income.

“Reflecting upon the past decade and the economic odyssey traversed by South Africa, one is induced to contemplate the alignment of current fiscal policies with the visionary scenarios postulated by the esteemed Clem Sunter. The scenarios – the "High Road" of inclusive growth and social cohesion, the "Low Road" of economic decline and societal discord, and the "Toll Road" of gradual progress amidst challenges – serve as a framework to evaluate South Africa's fiscal and economic trajectory.

“In the kaleidoscope of these scenarios, it appears South Africa's journey somewhat mirrors the "Toll Road", navigating through economic challenges and societal upheavals with a cautious optimism. The 2024 budget, in its essence, strives towards the "High Road", aiming to cultivate economic stability without the imposition of burdensome taxes. Yet, the spectre of sustainability concerns, particularly the reliance on reserve funds and the potential for fiscal shocks, casts a shadow of uncertainty, suggesting that the journey ahead remains fraught with challenges.

“As we consider the future, the essence of South Africa's economic narrative hinges on the delicate balance between growth, fiscal responsibility, and social investment. In this intricate dance of policy and progress, the vision for a prosperous trajectory remains within grasp, contingent upon the adept navigation of the fiscal and economic pathways laid out by visionary leaders and policymakers.”

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This article is based on research conducted by 21st Century, one of the largest remuneration consultancies in Africa. Please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. for any further information.

Written by:

Dr Chris Blair, CEO of 21st Century, This email address is being protected from spambots. You need JavaScript enabled to view it.; B.Sc. Chem. Eng., MBA – Leadership & Sustainability, PhD – Organisation, Work and Technology

About 21st Century:

21st Century, a level 2 BBBEE company, is one of the largest Business and People Solutions consultancies in Africa, specialising in sustainable business solutions and underpinned by exceptional Analytics and Research capabilities, with a team of more than 60 skilled specialists, servicing over 1700 clients – including non-profit organisations, unlisted companies, government, parastatals and over two-thirds of the companies listed on the JSE. 21st Century offers bespoke business and strategy planning services, operating model and organisational design, creative reward practice modelling and market data, change, stakeholder and culture management, training courses and comprehensive human capital and talent plans. 21st Century continues to offer solutions via a combination of virtual channels and on-site presence. 

21st Century has 5 business areas, focussing on: Remuneration and Reward; Organisational Design; Change Management; People & Talent and Analytics.

21st Century has both national and international capabilities. We offer full-spectrum Human Capital services to sub-Saharan Africa & Middle East clients, and as the African representative of the GECN group (www.gecn.com)  have access to expertise on every continent around the world.

For more information visit: www.21century.co.za or contact us at (011) 447 0306
Or contact Craig Raath Executive Director at This email address is being protected from spambots. You need JavaScript enabled to view it. 

Issued By: The Lime Envelope
On Behalf Of: 21st Century
For Media Information: Bronwyn Levy
Telephone: 076 078 1723
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AI in the context of contract analysis and management refers to the use of machine learning and natural language processing technologies to automate and improve various aspects of contracts, transforming the way contracts are analysed, managed, and enforced.

AI has become an indispensable tool in contract analysis and management, offering significant improvements in efficiency, accuracy, and risk mitigation. While it doesn't replace the human expertise of lawyers and contract managers, AI can complement their skills, allowing them to focus on strategic aspects of their roles.

How AI Improves the Contract Review Process

AI can greatly increase the efficiency of contract review and management in the following ways:

  1. Speed and Efficiency: AI can review contracts much faster than a human, processing large volumes of documents in a fraction of the time it would take manually.

  2. Accuracy in Data Extraction: AI algorithms are adept at extracting specific data points from contracts, such as dates, monetary amounts, and party names, with high accuracy.

  3. Consistency: AI provides a consistent approach to contract review, reducing the variability that might arise from multiple human reviewers.

  4. Risk Identification: AI tools can be programmed to identify clauses that are risky or deviate from standard practice, thereby alerting reviewers to potential issues.

  5. Advanced Analytics: AI can analyse contract terms and compare them against a large database of similar contracts, providing valuable insights and benchmarks.

The Risks and Benefits of Using AI for Contract Management

As with any technological tool, benefits and risks go hand in hand.

  1. Enhanced Productivity vs. Over-reliance on Technology: While AI automates routine tasks, thereby enhancing productivity, it also risks creating an over-reliance on technology, potentially leading to a skills gap.

  2. Cost Reduction vs. Dependence on Data Quality: AI's ability to reduce costs in contract management is counterbalanced by its dependence on the quality of data that is supplied. Poor or biased data can undermine the accuracy of AI-driven results.

  3. Improved Compliance Monitoring vs. Regulatory Compliance Challenges: AI enhances compliance monitoring but also poses challenges in adhering to diverse and strict regulatory requirements in different jurisdictions.

  4. Strategic Decision-Making vs. Lack of Nuance: AI's data-driven insights for strategic decision-making can be limited by its inability to fully grasp the nuanced subtleties of human language in legal contexts.

  5. Scalability vs. Data Security and Privacy Concerns: The scalability of AI in handling increasing volumes of contracts is juxtaposed with concerns around data security and privacy, especially when dealing with sensitive information.

While AI offers substantial improvements in contract review and management, it is essential to be aware of and actively manage the associated risks. A balanced approach that leverages the strengths of AI while mitigating its weaknesses  is key to successfully integrating AI into contract analysis and management processes.

Caveat Legal

At Caveat Legal, we pride ourselves on our commitment to staying at the forefront of AI research and staying abreast of market trends. We understand the dynamic nature of the AI landscape and the importance of being up-to-date and relevant in our approach. By continuously monitoring the latest developments, we ensure that our clients receive cutting-edge advice and solutions that align with the rapidly evolving field of artificial intelligence. 

Without professional legal guidance, organisations may face potential risks, including regulatory non-compliance, intellectual property disputes, privacy breaches, and ethical concerns. Our AI Law services are designed to address these challenges, enabling you to navigate the intricate legal landscape, mitigate risks, and build a solid foundation for responsible and successful AI integration through the support of existing legislation and guidance via international trends.

We are here to answer your questions, discuss your specific needs, and tailor a comprehensive legal strategy to ensure your AI initiatives thrive while complying with the evolving legal requirements. Take the first step toward harnessing the power of AI while safeguarding your organisation's interests. Reach out to our dedicated AI Law team today. For more information or to contact our team, visit www.caveatlegal.com

Image by DC Studio on Freepik.com

The world is changing, and so are our energy needs. With a growing emphasis on sustainability and renewable energy sources, more homeowners are exploring the possibility of installing solar panels on their properties. Solar power not only reduces your carbon footprint but can also lead to significant long-term savings on electricity bills. However, the upfront cost of purchasing and installing solar panels can be a barrier for many. That’s where rent-to-own solar systems come into play, offering an innovative solution that makes solar energy accessible to a broader audience.

Understanding Rent-to-Own Solar Systems

Rent-to-own solar systems, also known as solar leases or power purchase agreements (PPAs), provide an alternative path to solar adoption. Instead of buying the solar panels outright, homeowners can lease them from a solar provider. Here’s how it works:

  1. Installation: A solar company installs the solar panels on your property at little to no upfront cost. They own and maintain the system throughout the lease period. 
  2. Lease Payments: You make regular lease payments to the solar provider, usually on a monthly basis. These payments are often lower than your current electricity bill.
  3. Energy Production: The solar panels generate electricity, which you can use to power your home. Any excess energy is typically fed back into the grid, earning you credits.
  4. Savings: Over time, you can experience significant savings on your energy costs. The exact amount depends on factors like your location, the size of the system, and your energy consumption.

Advantages of Rent-to-Own Solar Systems

1. Cost Savings

One of the primary advantages of rent-to-own solar systems is the potential for immediate cost savings. By switching to solar, you can reduce or eliminate your reliance on traditional electricity sources, which often come with rising costs. With fixed monthly lease payments, you can budget more effectively and avoid the uncertainty of fluctuating utility bills.

2. Accessibility

Rent-to-own arrangements make solar energy accessible to a wider range of homeowners. You don’t need to have a large sum of money saved up for the initial investment, making it a viable option for those who may have been deterred by the high upfront costs of purchasing solar panels.

3. Maintenance Included

Solar providers typically handle the maintenance and repairs of the solar panels during the lease period. This means you won’t have to worry about additional costs if the system requires servicing, making it a hassle-free option.

4. Environmental Benefits

By harnessing the power of the sun, you’re reducing your carbon footprint and contributing to a cleaner environment. Solar energy is renewable and sustainable, helping to decrease greenhouse gas emissions and combat climate change.

Is Rent-to-Own Right for You?

While rent-to-own solar systems offer numerous benefits, it’s essential to assess whether this option aligns with your specific circumstances. Here are some factors to consider:

  • Location: Your geographical location plays a significant role in the effectiveness of solar panels. Ensure your area receives adequate sunlight to maximize the benefits.
  • Financial Situation: Evaluate your current financial situation and determine whether the long-term commitment of a solar lease is feasible for you.
  • Energy Consumption: Analyze your energy consumption patterns to assess whether the energy generated by the solar panels will cover your needs.
  • Duration: Consider the length of the lease agreement and whether you plan to stay in your current home for that period.

In Conclusion

Rent-to-own solar systems provide an excellent opportunity for homeowners to embrace renewable energy without the substantial upfront costs. These arrangements offer cost savings, accessibility, and environmental benefits. However, it’s essential to conduct thorough research, assess your energy needs, and evaluate the terms of the lease before making a decision. With the right approach, you can harness the power of the sun and take a significant step toward a sustainable and cost-effective energy future.

Published in Energy and Environment

In the constantly evolving world of smart home technology, two innovations have significantly changed how we interact with our living spaces: smart blinds and smart light switches. These advancements are not just about embracing modernity; they are about enhancing convenience, energy efficiency, and personalising home environments to suit our lifestyles. Let’s delve into how these smart home features are redefining comfort and convenience in our daily lives.

Smart Blinds: Redefining Window Treatments

Smart blinds are a groundbreaking innovation in home automation. These are not your average window coverings; smart blinds offer unparalleled convenience and control over your home’s natural lighting and privacy. With smart blinds, you can adjust the amount of light entering your home with just a tap on your smartphone or through voice commands via smart home assistants like Amazon Alexa or Google Home.

The Convenience Factor

Imagine waking up to gently rising blinds that sync with your alarm, letting in that soft morning light. Or picture adjusting your blinds to close automatically as the sun sets, all without moving an inch from your couch. This level of convenience is not a luxury anymore; it’s a reality with smart blinds.

Energy Efficiency

Smart blinds also contribute significantly to energy efficiency. They can be programmed to open or close based on the time of day, temperature, or even the position of the sun. This automation helps in maintaining a consistent temperature in your home, reducing the reliance on heating and cooling systems, and thus saving on energy bills.

Smart Light Switches: Lighting at Your Fingertips

Moving on from natural light management to artificial lighting, smart light switches are the next big thing in home automation. They replace traditional light switches and offer an enhanced, interactive experience.

Enhanced Control and Customization

With smart light switches, you can control the lighting in your home from anywhere. Whether you’re in bed and forgot to turn off the kitchen lights or away on vacation and want to switch lights on and off periodically for security, smart switches make it possible. They also allow you to create custom lighting scenes for different activities or moods, adding a whole new dimension to your home’s ambiance.

Integration with Home Automation Systems

One of the most significant advantages of smart light switches is their ability to integrate seamlessly with other smart home devices. This integration enables you to create a cohesive, fully automated smart home system. You can program your lights to turn on as your smart blinds open, syncing your home’s lighting with natural light patterns for a more natural wake-up routine.

Conclusion: Embracing a Smarter, More Comfortable Home

In conclusion, smart blinds and smart light switches are not just gadgets; they are essential components of a modern, efficient, and comfortable home. They offer convenience, energy savings, and an enhanced living experience. As we continue to embrace smart home technology, these innovations represent a step towards a future where our homes are not just places we live in but are dynamically integrated into our lifestyles, responding to our needs and preferences seamlessly. The future is smart, and it’s here to make our lives more comfortable and our homes more enjoyable.

Delivering positive climate and societal outcomes through effective risk management

Mining is a historically linear process – we take materials from the earth, make products from them and eventually throw them away as waste. With the intensification of climate change, environmental degradation, pollution – all products of linear economies – the mining industry needs to transition to a circular economy and a more sustainable alternative to make better use of increasingly finite resources demanded by world economies, while minimising the negative impacts to people and planet.

Speaking at a panel session at the Invest Africa Mining Series - Driving Sustainable Development - Circularity & ESG in Mining - Bruce Dettling, Mining Broking Leader at Aon Risk Solutions (UK), believes the South African mining industry is making strides towards a more circular economy (CE), with the focus on environment, social and governance (ESG) underpinning it.

“Long seen as the key contributors to the intensification of climate change, environmental degradation and pollution, the mining industry is now increasingly seen as part of the solution. In reality, the fundamentals of ESG have always underpinned mining’s licence to operate. The circular economy (CE) is based on three principles - eliminate waste and pollution through design, circulate products and materials at their highest value and finally, regenerate nature. A circular economy decouples economic activity from the consumption of finite resources – and at first glance, mining and the circular economy are not seemingly compatible. Yet by adopting CE principles, the sector can embrace the opportunities to reduce costs while mitigating risks. 

“There is a growing body of evidence that emphasises ESG’s critical role in ensuring resilience, long-term success, and superior investment returns. We also see that an ESG focus translates into better risk management and outcomes, which means greater insurance capacity and better rates. The early adopters of ESG principles are seeing the benefits of de-risking their operations,” says Dettling.

“From a Social and Governance perspective, mining companies also see the benefits that come with better employee relations, talent retention, community relations, and reduced violent strikes/riots. The industry is also in desperate need of top talent to help take it forward in the energy transition – and attracting and retaining such talent hinges significantly on the operationalising of ESG,” he adds.

What does ESG mean from an insurance and risk management perspective for miners?

While the insurance market will continue to provide coverage solutions and capacity for miners making the transition to cleaner, greener operations, acknowledging that transition will take time, the writing is however on the wall.  ESG is in sharp focus in the underwriting community.

In 2015 the insurance market first became impacted by thermal coal policies when most of the European insurers signed up to the Paris Accords, triggering a harsh decline in capacity as most global insurers were swift to exit the coal sector. What was initially anticipated to be a gradual withdrawal turned into an immediate disruption, with reduced capacity and rates that increased exponentially. 

Eric Anderson, Aon’s President, presenting on this issue in Bermuda, articulated it best when he said that carbon-intensive businesses need support from the insurance sector to transition, rather than being abandoned. “In order to decarbonise, we need massive investments in new technology and new resources, both public and private. That capital will require protection, so walking away from carbon-intensive businesses in the short term, with no plan to transition, will leave a power generation void, particularly in developing countries. It will also strand that workforce and leave them without family-sustaining wages.” Andersen explained that none of the private, public and social sectors can get to net-zero without the help of the others. He identified a need to collectively create the conditions that leverage the talent and creativity of the best scientists, engineers, technologists and inventors, and which provide the opportunity to create a financial return. “This combination will require a market to measure, price and transfer risk.”

South Africa’s Mining Sector Embraces ESG

Bruce Dettling adds that more needs to be done to recognise the important progress made by South Africa’s mining sector on the ESG front – take up of renewable energy is one example.  “There’s no escaping the energy intensiveness of mining with a traditional reliance on diesel and grid electricity bringing elevated levels of carbon emissions. South Africa’s constrained grid supply and load shedding has seen a rapid transition to renewable energy sources, including solar and wind energy, helping to regenerate natural systems and reduce emissions.

“Another key consideration is that the energy transition will put pressure on the demand for Africa’s mineral wealth, and vast volumes of copper, lithium, cobalt, platinum, and manganese will be needed – increasing the number of mines is not going to be sufficient to provide the critical minerals that the world needs. Energy transition minerals are now centre stage in the mining and metals industry, bringing new revenue opportunities for the industry, creating jobs and helping to diversify coal-dependent economies.”

Dettling also points to innovation in the reprocessing of tailings dams. “Technology has increased the level of recovery that can be taken from the waste dumps. There is massive room to reduce water usage in tailings by recycling, reusing, concentrating and reclaiming. Solutions like dry stacking to dewater mine tailings also eliminate the risk of tailings dam failures – a key consideration in any mining risk management programme and of critical importance to local communities. The devastating Brumadinho tailings dam disaster in Brazil in 2019 is a case in point. The dam collapse firmly threw the spotlight on how mining companies manage and monitor tailings storage facilities and significant innovation is going into de-risking them,” says Dettling.

Managing Risk in a Complex, Interlinked Environment

Transitioning to cleaner technologies, embracing renewable energy and adopting sustainable practices are imperative, but will take time and also carry significant risk.  Mining companies must maintain effective, whole-enterprise risk management practices that consider expanding ESG expectations and reflect the industry’s rapidly rising and complex insurance needs.

Working with Aon brings global experience and expertise, helping to optimise strategic risk-taking and risk-management activities across every facet of the mining operations, with immediate access to many of the leading mining insurers across the globe.

Aon’s role is to support mining businesses to make better decisions around every aspect of their insurance and risk management programmes, ensuring that they are effective and harmonised to reduce the cost of risk, to satisfy a breadth of regulatory requirements and ensure that no aspect of coverage is overlooked.

The energy transition is not an overnight process and will take years to achieve. During this time, it’s crucial that carbon-intensive mining businesses are able to effectively demonstrate all their ESG initiatives to ensure that their efforts are recognised by insurance carriers. This is where Aon’s expertise and global market reach can help change an Insurer’s viewpoint by demonstrating real value from an underwriting perspective.

“The mining businesses that embrace ESG as strategic investments, rather than cost centres, will realise the benefits in terms of their sustainability, insurability, lower risks and operating costs and ultimately, competitive advantage. The reality is that the availability of any finance and investment depends heavily on the insurance solutions available. This can be the deal breaker in the event that adequate risk transfer capacity is not available due to a less than favourable risk rating based on poor ESG fundamentals,” says Dettling.

“We understand that the miners of the future are expected to provide many different types of value, including social and environmental, and that this involves not only mitigating the negative impacts of their operations, but actively creating positive ones too,” concludes Dettling.

-- ENDS -- 

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President Ramaphosa's recent address at the 2024 Mining Indaba resonated with many in the industry. His acknowledgement of mining's vital role in South Africa's economy, coupled with outlined efforts to address key challenges, offered a glimmer of hope. However, Webber Wentzel's mining experts believe true progress demands moving beyond words and translating plans into concrete action.

While the government's recognition of critical areas like energy security, liberalisation of the rail sector, regulatory reform and illegal mining is commendable, concerns linger. The pace of implementation remains a pressing issue, with delays serving only to increase risk and harm to the industry and its role players. Delays in finalising the cadastral system, realising energy plans and rail reform create uncertainty and hinder growth. Furthermore, the speech lacked granular details on crucial aspects like timelines, budgets, and private-sector participation models for infrastructure projects. Addressing these concerns is paramount to building trust and attracting much-needed investment.

Bottlenecks within the sector demand more than mere acknowledgement. Initiatives to combat cable theft and improve freight logistics are welcome, but their tangible impact on current operational challenges, particularly on export, requires clearer articulation and demonstrably faster results. The human cost of the just transition cannot be understated. The President rightly mentioned it, but the roadmap needs specific plans for reskilling, social support, and community upliftment in regions like Mpumalanga.

Beyond acknowledging challenges, Webber Wentzel proposes concrete actions for a more impactful approach:

1. Prioritise action over speeches: Eloquent speeches are inspiring, but concrete action speaks volumes. Translating plans into tangible initiatives with clear criteria, deliverables and performance indicators is crucial. A shift from rhetoric to results, with regular progress reports, and open communication channels to hold stakeholders accountable, is necessary.

2. Foster deeper public-private partnerships: Public-private partnerships (PPPs) offer an effective way to expedite infrastructure development. The government should create an environment conducive to PPPs, fostering deeper collaboration with private investors and leveraging their expertise and capital, rather than preventing the realisation of benefits of PPPs to be stalled (or aborted) because of excessive red tape and unnecessary regulatory hurdles.

3. Address regulatory inefficiencies: Streamlining processes, reducing bureaucratic hurdles, and ensuring transparency in licensing and permitting procedures are vital. Delays and red tape stifle investment and innovation. A more agile, transparent and efficient regulatory framework will unlock the sector's true potential.

4. Prioritise community upliftment: Mining communities deserve more than just words of concern. A collaborative effort between the government, mining companies, and NGOs to invest in skills development, infrastructure projects, and sustainable livelihoods in these communities is crucial. This not only uplifts lives but also creates a more stable and secure operating environment for mining companies. The President referred with approval to various Employee Share Schemes established by employers, which ensure employee participation in employer success. However, we have, in the recent past, seen many strikes by the employees who benefit from these schemes, demanding that all available funds be paid to them without delay.

5. Create an attractive investment climate: Fiscal incentives are essential to attract new investment. Tax breaks, streamlined regulations, and fiscal stability can make South Africa a more competitive destination for investors. This will not only create jobs but also diversify the economy and reduce reliance on traditional mining activities. It is also important to create economic opportunities, such as improved rail and port infrastructure that will allow existing tax collections to be maximised.

6. Focus on beneficiation: Exporting raw materials generates limited value. Encouraging value addition within South Africa through incentives for processing and manufacturing, rather than simply exporting raw materials, is imperative. This will create higher-skilled jobs, boost the manufacturing sector, and contribute to a more diversified and resilient economy.

7. Energy Reform: The removal of the licensing threshold for embedded generation and the launch of the renewables, battery storage and gas-independent power producer programmes are to be commended as examples of concrete steps having a positive impact on the mining industry. The industry would benefit from further concrete steps towards transmission and distribution grid expansion, clear grid access rules, standardisation of rules for municipal grid use and an integrated resource plan that embodies the least cost sustainable pathway to energy security in South Africa as a whole.

8. Rail Reform: Government's formulation and approval of the National Rail Policy, the Economic Regulation of Transport Bill and the ratification of the Luxembourg Rail Protocol all should be commended. However, bold and decisive leadership is now vital to accelerate the implementation of the National Rail Policy, specifically concrete actions to liberalise the rail sector by implementing private, third-party access to the rail network, is crucial and is capable of implementation now.

In many of these instances, public and private partnerships are essential to address and implement the suggested actions (noting that PPPs, in the conventional sense, are not a prerequisite to the reforms contemplated in the National Rail Policy). The sector's true potential for inclusive growth, job creation, and sustainable development can be unlocked.

The mining industry must go beyond rhetoric and adopt real action if it is to genuinely fulfil its crucial role in constructing a more promising future for South Africa. It's imperative to put plans into action and write a new chapter in South African mining history—one that is inclusive, innovative, transformative, and growth-orientated—where no one is left behind.

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