Search results for: reliance

Habitat for Humanity to build homes for Mandela Day

Cape Town,12 June 2017– Habitat for Humanity South Africa in partnership with the Nelson Mandela Foundation will be hosting their Nelson Mandela International Build Week from 17 to 21 July in Orange Farm, Gauteng. The goal is to build 67 homes for 67 families in honour of the annual call for people to devote one minute of their time for every year of Mandela’s public service.

Habitat for Humanity South Africa is the local iteration of the US non-profit organisation founded by the vision that everyone needs a decent place to live. This year marks their 21^st year in South Africa and celebrations will be held in December. In 2013 the strategy of Habitat for Humanity South Africa shifted to building not only homes but entire communities. To bring this to life, Habitat invokes a ‘P4’ approach – people, public, private, partnership which has become the driving force to bring active citizens together with the help of business and government to address the country’s housing issue. Central to the success of this P4 approach is ensuring the community is at the centre of the partnership in that they know their needs and what they would like to achieve within their community.  South Africa has a current housing backlog of two million, with rapid urbanisation exacerbating the situation.

“Mobilising South Africans to become actively involved to uplift communities and give them access to decent shelter, as well as skills to improve their lives is important to us at Habitat for Humanity South Africa,” says the organisation’s national director Patrick Kulati. “We have a wealth of skills within South Africa and we should utilise all citizens so that they can pass their skills on to vulnerable communities.”

The National Development Plan 2030 (NDP) sets out targets to address the housing challenge, one of which is “active citizenry”. This is something that we at Habitat for Humanity South Africa are championing.

An active citizen is someone who plays a vital role throughout the Habitat for Humanity South Africa value chain, including volunteering at build events, involvement in community-development programmes and using one’s voice to transform government policy through our advocacy programmes”.

Yase Godlo, manager of Mandela Day, which is held every year on Madiba’s birthday 18 July, says “the day is an opportunity where we honour and bring to life the vision, values and leadership of our great statesman by taking action against poverty in a way that will bring about sustainable change”.

About Habitat for Humanity

Habitat for Humanity South Africa’s vision is a South Africa in which everyone has a decent place to live.  Building strength, stability and self-reliance for under-resourced communities through the provision of shelter. Established in 1996, the South African organisation is represented in the Western Cape, KwaZulu-Natal and Gauteng. It will be celebrating its ‘coming of age’ 21^st birthday at the end of this year.

In 2013 the strategy of Habitat for Humanity South Africa shifted to building not only homes but entire communities. To bring this to life, Habitat invokes a (P4) approach – People – Public – Private - Partnership which has become the driving force bringing active citizens together with the help of business and government to address the country’s shelter needs. Central to its success is ensuring the community (people) is at the centre of the partnership in that they know their needs and what they would like to achieve within their community.  Through skills and leadership development, community leaders are equipped with the skills and knowledge they need to drive their own development. 

For more information, please contact:

ADRIENNE BURKE
Marketing Manager
Habitat for Humanity
021-657-5640
079-155-8404
This email address is being protected from spambots. You need JavaScript enabled to view it.

KARINA VAN DEN HEEVER
Dummett & Co (PR Agency for Habitat for Humanity)
021-418-2466
084-347-3358
This email address is being protected from spambots. You need JavaScript enabled to view it.

The Centre, which was launched by the Minister of Trade and Industry, Dr Rob Davies in Pretoria in March this year, is intended to strengthen regional integration through dedicated research to support the Continental integration processes

JOHANNESBURG, South Africa, June 12, 2017/APO/ -- 

The Department of Trade and Industry (the dti) and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) aimed at establishing a strategic collaboration in the implementation of programmes of the Centre for Trade and Regional Industrialisation.

The Centre, which was launched by the Minister of Trade and Industry, Dr Rob Davies in Pretoria in March this year, is intended to strengthen regional integration through dedicated research to support the Continental integration processes. As well as, build the capacity of Africa’s trade negotiators in the ongoing Tripartite Free Trade Area and Continental Free Trade Area negotiations. The MoU was signed by the Director-General of the dti, Mr Lionel October and the UNDP Resident Representative in South Africa, Mr Gana Fofang.

“The main role of the Centre will be to facilitate the implementation of the development integration approach that aims not only to promote trade but also regional industrialisation and infrastructure development. This implies that the Centre will promote industrialisation in the African Continent thus supporting the continent’s drive to enhance productive capacity.” said October.

The main role of the Centre will be to facilitate the implementation of the development integration approach that aims not only to promote trade but also regional industrialisation

He added that the key objective is to promote the development of regional value-chains so as to foster diversification and structural transformation of the African Continent. He emphasised that the Continent’s reliance on exports of primary products is unsustainable and there is a need for a dedicated effort to promote value-addition.

Mr Fofang said the partnership between the dti and the UNDP will ensure that the Centre undertakes and facilitates applied research and analysis, and collect evidence on policies and good practices in developmental regionalism, amongst others.

“Our collaboration will also enable the Centre to develop tools, methodologies and knowledge for strengthening the implementation and monitoring of regional integration, promote intellectual exchange among multiple stakeholders and across disciplines. We will also promote the dissemination of policies and best practices in the sub-region to support the development of policies at national level,” said Fofang.

He added that in order to ensure results, the Centre would cultivate strategic partnerships with a range of research and policy institutions within the continent and other regions, as well as promote South-South collaboration and exchange of knowledge.

Distributed by APO on behalf of The Department of Trade and Industry, South Africa.

JOHANNESBURG, GAUTENG – First Car Rental has installed its first solar power plant at First Car Rental Pomona, cementing its continued commitment to reducing its environmental impact.   The solar power plant is located across three large rooftops containing 415 photovoltaic (PV) panels (of 320 Watts ea.) at the Pomona branch, which will produce on average 226.8 MWh of electricity per annum.   The installation company, SolarXgen, started building the solar power plant in November 2016 and took three weeks to complete the project. Guaranteed for 25-yrs, SolarXgen will additionally maintain the solar system for First Car Rental.  

The solar power plant is linked to the power mains via an inverter and offsets the power normally consumed from the utility company. This system does not store power – all the power generated from the PV system at First Car Rental is used on-site.   The solar power plant at First Car Rental Pomona continuously runs in tandem with the utility power grid. During the day, when the solar system outputs power, it becomes the primary provider and the utility is secondary.  

Says Wayne de Jager, Executive Director and co-founder of SolarXgen (South Africa), "The solar power system is monitored via Supervisory Control and Data Acquisition (SCADA) control system and a Programmable Logic Controller (PLC). These systems allow remote monitoring and reporting. Our management system is able to match PV output to the building's energy demand, ensuring optimally timed consumption."   As electricity costs continue to rise, solar power is becoming a more viable and cost-effective solution.

The installation of the solar power plant at First Car Rental Pomona will elicit an average monthly saving of 52.9% on the cost of electricity. The expected gross savings on electricity over the 25-year lifespan of the solar power plant equates to R28million.   The use of solar power is in line with First Car Rental's decade-long commitment to clean energy and sustainability. Over the guaranteed portion of the plant's lifetime, First Car Rental will be reducing its carbon footprint by 4964 tons of CO2.  

Says Melissa Storey, Executive Head: Strategy, Development & Marketing at First Car Rental, "Over the years, First Car Rental has initiated many environmentally-friendly projects that still exist today. These include, but are not limited to, various energy and water-saving initiatives, saving tens of thousands of litres of water and reducing our carbon emissions by 44 tons per annum.   We also introduced electronic vouchers and online invoice retrieval, and our Customer Services division is a paperless environment, and not to mention our corporate Show&Go mobile checkout is a green initiative.   Renewable energy is critical to our continued fight against climate change. Harnessing solar energy for power generation is a feasible clean energy source.

The solar power plant ensures that First Car Rental Pomona can become self-sustainable regarding its power needs and reduces reliance on the national grid.   This installation and our many successful and ongoing green initiatives demonstrate to staff, and to our current and future customers, that we are 'all in' when it comes to reducing our environmental impact."   ##Ends Editors Notes: First Car Rental is a proudly South African car rental company that has been in business for over 18 years. With more than 8500 vehicles in use across South Africa and 51 car rental branches located nationwide, including branches at all major South African airports, business and tourist destinations. We also have an operational presence in Malta, Mauritius, Tanzania and Turkey.  

Worldwide, First Car Rental is partnered with SIXT rent a car, one of Europe's largest car hire companies, to provide international car hire in over 100 countries and 4 500 locations.   First Car Rental prides itself on a car hire fleet that comprises of an impressive range of well-maintained vehicles ranging from no-frills models to top-of-the-range luxury cars. They also offer services such as direct transfers, long-term car rental and wedding car hire.  

Keep in touch with First Car Rental

• Website: www.firstcarrental.co.za
• Facebook: www.facebook.com/firstcarrental
• Twitter: www.twitter.com/firstcarrental
• Instagram: www.instagram.com/firstcarrental

Issued by Hot Salsa Media on behalf of First Car Rental

For more information please contact Viv Quann at This email address is being protected from spambots. You need JavaScript enabled to view it.  

Across the globe, banks have validated the identity of their customers at the ATM with something the user has (such as a bank card) and something the user knows (typically a PIN). This approach is becoming outdated and increasingly vulnerable to identity fraud. To make matters worse, the number of digital identities seems to grow exponentially each year along with ID cards, tokens and smartphones. Validating the authenticity of the digital identity and binding it to the correct individual is now paramount. Only biometrics provides the means to securely link a digital identity to an actual person.

The banking industry has adopted new technologies to decrease fraud, including EMV cards for purchases and withdrawals and OTP tokens for home banking. Yet these technologies fail to provide the assurance that the person using the card or token is who they claim to be. Neither can answer the question: Is the person presenting the token a legitimate bank customer or a fraudster? If a biometric solution, such as a fingerprint, is used with a digital identity, such as a bank card, the bank can have a much higher level of confidence in the transaction. Furthermore, when a biometric is coupled with liveness detection to ensure that the fingerprint data is derived from a live human finger, the ability for a fraudster to use a fake biometric is removed, and concerns about the privacy of biometric information are reduced.

Here are the four most popular ways that biometric authentication is being used today at ATMs and self-service kiosks:

PIN replacement. One common approach is to use fingerprint biometrics in place of PINs in the ubiquitous card-plus-PIN transaction model. The use of a fingerprint to authenticate is generally easier for the customer than remembering a PIN and it also brings a higher level of certainty about the identity of the individual who is transacting.

The card-plus-fingerprint approach requires the customer to simply insert the card and touch a finger to the reader to conveniently complete a transaction. Widely used today in Brazil, the fingerprint solution is facilitating an estimated four billion ATM transactions annually for customers at four of the country’s top five financial institutions.

To be a successful component of transactional authentication, the biometric technology chosen must deliver the highest possible level of reliability and performance. Multispectral imaging is a biometric technology that addresses the high performance requirements by reading relevant fingerprint information from both the surface and subsurface of the finger. The extra data allows a high level of biometric matching performance — with a single touch in any environment — and virtually eliminates the fraudulent use of counterfeit fingerprints. With this technology, South African bank customers will soon be able to enjoy PIN-less processing if they wish, making bank services even more inclusive and convenient.

Provide authentication to new applications. A bank’s greatest investment is in its customers. Determining the proper identity of each individual is critical for providing a customized tailored experience. Customer assets, such as attributes that comprise their digital identity, must be protected and also be usable across various platforms. Interoperability becomes a key requirement in any solution to enable banks to purchase devices from multiple vendors, permit cross-bank usage and pave the way for many new applications and services in the future.

In South Africa, the biometric solution in banking that is used when new accounts are opened or when beneficiaries are changed must be interoperable with the Home Affairs National Identification System (HANIS) to confirm the individual’s identity. This not only curbs fraud but also provides additional cost savings through the reduction of paper consumption. And if strong authentication is required for employees in the future, the same fingerprint sensors can be used to replace passwords for network authentication.

Multi-transaction sessions. Placing a finger on a sensor takes less time than keying in a PIN. When multiple transactions are needed in a single session, fingerprint authentication provides a quick, simple and non-intrusive way to authenticate a single person multiple times.

Incorporating biometrics directly into a smart device. As banks migrate to a multi-channel strategy for their customers, new technology provides the flexibility to store a user’s biometric information on a smart device such as a smart card or smartphone. When a bank customer uses biometrics to authenticate, providing an option to match against a local credential removes the reliance on back-end connectivity, while still binding the authentication request to a unique individual.

The goal of any ATM transaction is to provide a convenient service while ensuring the identity of the individual to whom the service is being provided. Managing risk is a matter of balancing and, ideally, enhancing both security and convenience. Biometric authentication is rapidly becoming the most efficient and effective way of offering this capability with the highest level of certainty, which is why it is increasingly popular for securing ATM transactions.

~ Finance Indaba Africa ~ 2016
~ 27 September 2016
- By Genesis Articles Global

As proud providers of cutting-edge Business Management (BMS) and Business Intelligence (BI) Solutions in Southern Africa, we invite your CFO’s and representatives to join us at the one and only Finance Indaba Africa  2016 (13th and 14th October 2016; 9am to 10pm).

Not only is this the biggest annual event of its kind for finance professionals, but the Finance Indaba also brings together a diversified and select group of industry leaders, related suppliers, technology forerunners, banks, business and finance executives, strategic synergy partners and respective authorities. Visitors will join over 5000 anticipated attendees, from policymakers to end-users, all seeking to engage closely with various stakeholders.

Connect with Lorge at the Finance Indaba Africa 2016

Lorge will be exhibiting at stand A43 for the duration of the event, with a special address by Business Developer Manager, Rebecca Mahlo, at 2:15pm to 3:00pm on the 14th October 2016. The presentation theme involves Transforming Financial Attitude on a World Class Stage. Rebecca commented that, “In this session Lorge will focus on how organisations can gain operational efficiencies, reduce costs and increase business growth. This will be demonstrated using real life customer case studies.”

As a premier certified Sage partner for 21 consecutive years, Lorge’s client-centric approach is also evident in its participation at the Finance Indaba. “The Finance Indaba provides Lorge with a unique opportunity to foster new and old relationships with finance professionals; to promote its brand by showcasing its value-added offerings. This in turn will help finance professionals to run their operations more efficiently by cutting down costs and realising desired results,” said Rebecca in commenting on why Lorge is participating at the Finance Indaba 2016.

Why is Lorge strategically placed to support CFO’s and Finance Professionals?  

As a robust organisation with progressive financial and operational goals, you may be asking: What financial management and associated benefits your finance division and enterprise as a whole can expect from engaging the services of Lorge? Our focus as an enterprise is on adding optimum value to your organisation so that it subsequently experiences superior ROI, based on appropriate BMS and BI solutions. This includes effective needs analyses, systems implementation together with comprehensive and dedicated sales and after-sales support.

Here are six of the benefits or rather challenges that we are able to help finance professionals acutely address in 2016 and beyond:

1. Streamlining processes to increase productivity and reduce operating costs
2. Showing satisfactory revenue and profit growth
3. Regulatory Compliance
4. Financial Consolidation and Reporting
5. Adapting to the changes in the technology space with respect to Internet of Things(IoT) and Industry 4.0
6. Enhance efficiencies throughout the business by reducing the reliance on manual input and automating processes through adaptive workflow

Partnering with a Market Leader

In today’s volatile and increasingly competitive marketplace, it has become necessary to benchmark against the highest international standards and best practices. This is not only a regulatory issue but one of maximising output too. This is why it is critical to align your operation with the right BMS and BI partner in this day and age.

At Lorge we believe that progressive organisations with vision need alliance with equally progressive service providers. Below is a short snapshot of how Lorge has grown from humble beginnings to become a national enterprise also servicing clients internationally.

1. Lorge has grown to become the preferred supplier and implementer of Sage X3, Sage 300, Sage CRM, Sage X3 People and Qlikview business and technology solutions.
2. Has successfully implemented over 10 000 users across numerous industries.
3. Is a trusted Service Provider for more than 250 companies.
4. More than 30% of Lorge’s clients are listed on the JSE Securities Exchange.
5. Operates extensively within and beyond South African borders.
6. Integration to bespoke systems and customisation as per client’s needs.

Award-winning solutions

Further to the above, progressive couldn’t be better epitomised than in the essence of award-winning service. Over the past 30 years of operation Lorge has accumulated a number of accolades and industry awards. In doing so the organisation has entrenched an irrevocable reputation for excellence and is recognised as a pioneer in its field of expertise. Here are some of the reasons why Lorge has become a market leader in the true sense and continues to win awards annually.

1. Over the last 30 years, the consistency of our expertise in business systems has earned us an award winning reputation
2. Our unstinting dedication to excellence
3. Consistent Customer Centricity
4. Highly passionate, skilled and product-certified consultants and developers
5. Our Dedicated Client Care Centre
6. Our Dedicated Sage Accredited In-house Training Centre

For further information on the Finance Indaba Africa expo and conference or to find out about our exhibition and special address, contact our Marketing and Sales Coordinator, Bronwyn Delport on 010 594 9800. You can also register for the expo here.

Media Contact

This Press Release is proudly brought to you by communications specialists ~

Organisation: Genesis Articles Global
Website: www.genesisarticles.co.za
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Contact person: Mark David Sing
Contact Number: +27 76 450 6739
Contact Email:This email address is being protected from spambots. You need JavaScript enabled to view it.

Starting a business is a huge achievement, while the greatest challenge is to sustain and develop it. There are many threats to a business that can take it from profitability to extreme financial hardship in an instant, and many risks are entirely beyond our control.   When a constrained economy combines with other unexpected physical mishaps, the results can be as calamitous as the effects of throwing a spanner into the pistons of an engine. 

One of the most important business conversations an entrepreneur can have is with a professional risk advisor who can objectively interrogate the nature of your business, its unique needs, reliance on its supply chain, the range of likely risks and how to mitigate the impact of such in a worst case scenario. 

“Many businesses have the usual property and assets cover for their buildings, vehicles and other essential equipment.  All good and well if you have an accident, theft or fire and your policy is able to take care of the replacement of the physical assets, but what happens if you are also unable to trade for weeks, even months and your revenue declines or even stops altogether as a result? If the only road to your luxury B&Bin the Drakensberg is blocked off for a month due to a landslide or sinkhole, how would you recoup the lost income of no guest bookings? If your fast-food franchise burnt down and it took three months to rehabilitate the site and rebuild the store, how would you pay staff, rent, taxes, franchise fees and so on? If a multi-million Rand, imported machine in your component factory explodes and the replacement from overseas is three months down the line, how will you pay your creditors? None of these costs stop simply because you’re unable to trade due to a physical disaster or force majeure,” explains Clayton Ellary, Senior Account Executive at Aon South Africa, a leading global insurance brokerage and risk advisory. 

This is where Business Interruption insurance becomes a necessity.  It can mean the difference between surviving a disaster with your profits and turnover intact, or shutting your doors, permanently. Business interruption insurance is designed to compensate the business for the financial impact of the interruption/interference as a result of physical damage to the insured property or other key external events, for example damage at a key customer or supplier’s property.  Businesses can purchase contingent business interruption coverage, an aspect of business interruption insurance, where the insurance is triggered by property damage at the premises of a supplier or customer, or other trigger such as loss of utility, denial of access or the act of a local authority which results in a financial loss you may suffer. 

The intention of Business Interruption insurance is to restore the business to the same financial position as if the loss had not occurred as well as to cater for additional increased costs/expenses incurred to minimise further loss of revenue and lessen the time to do so, subject always to the terms and conditions of the policy. Business interruption claims are normally linked to material damage/property damage. 

“While your property or assets insurance covers the damage to physical property or equipment and replaces the actual assets, business interruption is vitally important to tide your business over in terms of the lost income as a result of physical damage, until you get back to operating your business as usual,” explains Clayton. 

What does Business Interruption Insurance cover?

Although the specifics of cover vary from one insurer to another, the basic tenets of BI are:   

·         Payment of a specified amount of money that reflects the difference between what you should have earned versus what you actually earned in the period following the disaster.  This figure is determined at the inception of the policy and is based on audited financials and turnover determined through a thorough risk assessment conducted by a professional broker.

·         Payment of a percentage of the sum insured to help you make temporary arrangements to get your business back up and running.

·         Business Interruption Insurance is not sold as a stand-alone policy.  It is linked to your business property insurance, and is triggered if the business interruption is as a result of one of the insured perils on your property insurance policy for example fire, flood, explosion.

Manage insurability through effective risk management

“While covers like Business Interruption play a fundamental role in seeing your business through a major disaster to trade again, the need for effective risk management and mitigation simply cannot be emphasised enough,” adds Clayton.

Consider the case of a manufacturer committed to risk management that has in place the best controls possible.  His supplier may not be so dedicated in this respect.  Where there are a large number of suppliers, the manufacturer is less likely to have a problem.  He will merely buy from the others.  However, where there is, for example, a duopoly and one suffers a serious interruption, the other may not be able to cope with the demand.  Also, foreign markets may need to be accessed but usually at higher cost.  With the ‘suppliers extension’ in place on a BI policy, this additional cost would be covered.  If no alternative source of supply can be found, the manufacturer may well find itself unable to produce its product. 

“The resultant loss of sales will also be covered by the supplier’s extension, assuming it will respond.  In a worst case scenario, assuming the supplier’s extension did not respond, a company could even go out of business as a result of an occurrence which was beyond its control.  It’s vitally important for businesses that are reliant on others for supply of critical stocks to address the potential risk associated with suppliers throughout the supply chain.  If not, the potential knock-on effect could be both severe and far reaching as end users find themselves let down by their suppliers,” advises Clayton.

Finally, Clayton advises that it’s important to engage with a qualified, expert broker who can assess how your different business insurance covers mesh together to create a veritable safety net against the many challenges besetting SMES.  “Business Interruption cover is simply one of a number of important risk products that businesses need to safeguard their continuity. A clear description of a business and its operational environment is central to the drafting of a well-conceived insurance strategy.  A comprehensive risk assessment will greatly aid in identifying the potential hazards, in addition to determining what physical precautions and management processes should be in place.  It’s also very important to have an accurate assessment of the replacement costs of buildings, contents, vehicles, IT, stock and other assets, particularly in the event of a catastrophic loss.  By linking professional advice to an aligned insurance program that covers virtually all the ‘what if’ scenarios of not only physical damage, but the knock-on implications for business continuity, Aon clients get to experience the real depth of value of a comprehensive risk analysis backed with professional advice and expertise,” concludes Clayton.

[Sep 2016] Like any business, educational institutions are increasingly dependent on the internet and technology to conduct daily activities, from online learning and test platforms, to storing sensitive student and employee information.  A data breach or cyber-attack can compromise this confidential information or even prevent access to vital online services, leading to reputational damage and loss of income, not to mention legal action, regulatory costs and the associated disruption to the institution.

During a recent cyber breach the University of Limpopo’s website was taken down, leaking exam papers and the details of over 18 000 students, in addition to perpetrators publicly posting what was believed to be the login details for the University’s intranet.  From a general perspective, South Africa has been particularly hard hit by an onslaught of cyber-attacks during 2016 with a number of noteworthy targets in the name of Operation Africa (#OpAfrica) ranging from SABC and the SA Government Database, through to the Department of Water Affairs and the EFF. 

Loss and harm caused by cyber incidents is not entirely new, but with the increasing reliance on technology, the risks and voracity of attacks are increasingly exponential. According to a recent studyconducted by IBM, the 2016 cost of a data breach in South Africa equates to an average cost of R1 548 per lost or stolen record, with 37% of data breaches in South Africa involving malicious or criminal attacks.

“A breach in data puts a whole process in motion that can quickly turn into a very costly exercise,” saysKerry Curtin, Manager for Financial Institutions & Professional Risks at Aon South Africa. “In certain instances an educational institution may need to appoint a forensic analyst to establish the origin of the breach and to prevent further damage.”

“Depending on the type of breach, appropriate government or regulatory offices may need to be informed of the breach to anticipate possible legislative or regulatory fines.  In addition, there are many jurisdictional acts and bills that affect the cyber realm in South Africa with the potential for grave financial implications from third party liability claims, stemming from the Consumer Protection Act or even the Protection of Personal Information (POPI) act, to name a few,” Kerry explains.

“The nature of the breach will also need to be communicated to affected parties and the corresponding support will need to be put in place.  This is especially critical in the event of sensitive information such as banking details or qualifications that are leaked, which lends itself to identity theft, fraud and the like.  This is not even accounting for the public relations and crisis management that an educational institution will need to implement to manage its reputation and credibility in the marketplace, which comes at a significant cost,” she adds.  

While existing forms of insurance sometimes carry a level of coverage, only specialist cyber insurance policies provide extensive cover.  “There is no one size fits all approach to cyber risk insurance.  That’s why consulting with a professional Aon risk advisor is an invaluable exercise in protecting your reputation, data, students, employees and bottom line,” says Kerry.

Cyber insurance is a very complicated field that requires thorough interrogation to ensure that the risk profile of an educational institution is adequately covered.  “Cyber risk products typically indemnify an educational institution from any losses it may suffer from cyber-attacks such as those incurred to investigate and manage a cyber incident.  It also covers the costs incurred in responding to data privacy regulators in the form of fines and penalties, in addition to liability claims made by third parties,” explains Kerry.

Aon’s cyber risks diagnostic tool also greatly aids educational institutions to quantify its cyber insurance risk, and can be found here.

“The risk that a cyber breach holds is something that should never be under-estimated.  Our professional and qualified brokers will help you navigate your way to the best insurance products that suit your educational institution’s profile and its pocket,” concludes Kerry.

More than a third of risk professionals throughout Africa, Europe and the Middle East have experienced a material or significantly disruptive loss relating to a data breach or security exploit in the past 24 months with the average, financial impact of these incidents in the region of $2.1 million.  The most common EMEA cyber incident was an attack that caused disruption to business and IT operations.

This is according to Aon Risk Solutions in a research report undertaken during March 2015 in partnership with The Ponemon Institute, surveying 545 risk professionals across 15 countries in the EMEA.

“Within the next five years, Cisco estimates there to be 50 billion internet-connected devices in the world by 2020.  The transformation of the world’s economies from historical tangible products and manual labor services to reliance on technology and information assets is rapid and severe. Cloud computing, mobile devices, social media, big data analytics and the explosion of the Internet of Things have driven this digital transformation, and at the same time the inherent and very real risks. In conducting this report, Aon wanted to understand how organisations qualify and quantify the impact of cyber-related assets.  This particular survey is unique as it focused on the relative financial statement impact of cyber incidents compared to tangible asset vulnerabilities,” explains Kerry Curtin, Manager: Financial Institutions & Professional Risks at Aon South Africa.

Aon sponsored the report to help business get a better understanding of the relative financial statement impact of tangible property and network risk exposures, assisting organisations in allocating resources and determining the appropriate amount of risk transfer (insurance) resources needed.  All respondents in the survey were familiar with the cyber risks facing their companies.

In the context of this research, cyber risk means any risk of financial loss, disruption or damage to the reputation of an organisation from some sort of failure of its information technology systems.  Network risk exposures can broadly include breach of privacy and security of personally identifiable information, stealing an organisation’s intellectual property, confiscating online bank accounts, creating and distributing viruses on computers, posting confidential business information on the Internet, robotic malfunctions, and disrupting a country’s critical national infrastructure.

Despite the comparability of the average potential loss to information assets ($617 million) and Property, Plant & Equipment (PPE) ($648 million) the percentages of insurance coverage between respondents differs dramatically. 

The findings clearly show that information assets are either not insured or underinsured against theft or destruction based on the value, Probable Maximum Loss and likelihood of an incident occurring, even though Probable Maximum Loss could exceed $200 million. The disclosure or reporting of a material loss of PP&E and information assets also differs between respondents. Only fifty percent of respondents say their company would disclose the loss of PP&E in its financial statements as a footnote disclosure. However, 34 percent of respondents say a material loss to information assets does not require disclosure. 

Despite the serious risk, companies are reluctant to purchase cyber insurance coverage. Fifty-two percent of respondents believe their companies’ exposure to cyber risk will increase over the next 24 months. However, only 19 percent of respondents say their company has cyber insurance coverage in the first place, even though 37 percent of companies in this study experienced a material or significantly disruptive security exploit or data breach one or more times during the past two years and the average economic impact was $2.1 million.

“In today’s technology-driven environment, enterprise risk management issues are rapidly growing with the increased use of information assets and technology and present an ever-increasing exposure to business.  And yet despite this far too many organisations remain seriously underinsured in respect of cyber risks where the quantum for a catastrophic attack or exploit could exceed $200 million.  This could put many organisations out of business and devastate their brand reputations and trustworthiness in the eyes of the consumer, taking years to recover, if at all.  In this regard, consulting with a professional risk advisor is an invaluable exercise in protecting your reputation, data, clients and bottom line,” concludes Kerry.

• Executing to industry's most disruptive technology roadmap
• More efficient than the best multi-PERC module

TEMPE, Ariz.--(BUSINESS WIRE)-- First Solar, Inc. (Nasdaq: FSLR) today announced it has set yet another world record for cadmium-telluride (CdTe) photovoltaic (PV) module conversion efficiency, achieving 18.6 percent aperture efficiency for an advanced full size module. For the first time ever, First Solar has demonstrated a record module that is more efficient than the best multi-crystalline module recorded.

This achievement reinforces confidence in First Solar's ability to deliver sustained product improvements consistent with its long-term technology roadmap.

The record has been measured and certified by the U.S. Department of Energy's National Renewable Energy Laboratory (NREL).

This 18.6 percent aperture area efficiency corresponds to a full area conversion efficiency of 18.2 percent, which easily beats the best recorded multi-crystalline Si PERC module with an approximate full area efficiency of 17.7% (based on 19.1% aperture efficiency and published module area data).

This achievement is the eighth substantial update to CdTe record efficiency since 2011, continuing a disruptive and sustained trend of rapid performance improvements. In January, First Solar produced a research cell with 21.5 percent conversion efficiency, certified at the Newport Corporation's Technology and Applications Center (TAC) PV Lab and confirmed by NREL.

"First Solar's CdTe thin film is now rightly categorized as a high performance product," said Raffi Garabedian, First Solar's Chief Technology Officer. "At one time, we might have been characterized as a low cost, low efficiency technology, but consistent with our technology projections we are now proving that CdTe thin film delivers both industry-leading performance AND sustainable thin-film cost structures."

Garabedian emphasized that First Solar's significant sustained investment in development of CdTe technology has enabled the company to meet or exceed its aggressive projections for improvements in research cells and modules, as well as commercialized technology.

"While silicon technologies have approached their theoretical efficiency entitlement and leveled out in terms of performance and cost, First Solar continues to harvest the upside available from its superior thin film technology. Our CdTe modules are now more efficient than the best multi-crystalline Si modules, and we still have a great deal of technology head room for further innovation," Garabedian said.

Nick Strevel, First Solar's Senior Manager of Technology, noted that efficiency combined with other real-world performance attributes result in First Solar technology delivering higher energy density than multi-crystalline Silicon (m-Si) solar panels. Given the same installed nameplate module capacity (Watts) with equivalent ground coverage ratio, he said, First Solar's CdTe product will provide up to 8 percent more useable energy from the same land area than m-Si, which gives First Solar a competitive advantage over other PV technologies.

"A narrow focus on simple metrics such as standard-test-condition (STC) efficiency or cost per STC-watt obscures the actual value of solar generation technologies," said Strevel. "Customers value energy produced by a solar power plant (kWh), not its nominal STC power rating. Metrics with greater relevance to real-world conditions - including specific energy yield, energy density, cost/kWh and long term reliability - ultimately tell a much more comprehensive story of real-world performance and are more influential in reducing Levelized Cost of solar Electricity."

Strevel said that, in addition to the continued trend of efficiency records, First Solar's modules are amongst the highest quality, most reliable modules in the world, having passed the industry's most rigorous multi-stress testing protocols such including Atlas 25+, IEC Long Term Sequential and Thresher Tests.

About First Solar, Inc.

First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced module and system technology. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar's renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.

For First Solar Investors

This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements, among other things, concerning: our business strategy, including anticipated trends and developments in and management plans for our business and the markets in which we operate; future financial results, operating results, revenues, gross margin, operating expenses, products, projected costs, warranties, solar module efficiency and balance of systems ("BoS") cost reduction roadmaps, restructuring, product reliability and capital expenditures; our ability to continue to reduce the cost per watt of our solar modules; our ability to reduce the costs to construct photovoltaic ("PV") solar power systems; research and development programs and our ability to improve the conversion efficiency of our solar modules; sales and marketing initiatives; and competition. These forward-looking statements are often characterized by the use of words such as "estimate," "expect," "anticipate," "project," "plan," "intend," "believe," "forecast," "foresee," "likely," "may," "should," "goal," "target," "might," "will," "could," "predict," "continue" and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed in Item 1A: "Risk Factors," of our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed with the SEC.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150615005296/en/

First Solar Media
Steve Krum
+1 602-427-3359
This email address is being protected from spambots. You need JavaScript enabled to view it.

First Solar Investors
Stephen Haymore
+1 602-414-9315
This email address is being protected from spambots. You need JavaScript enabled to view it.

Solar rooftop facility will reduce carbon footprint and provide hedge against rising electricity costs

CAPE TOWN, South Africa, June 2, 2015 – First Solar, Inc. (Nasdaq: FSLR) today announced that its advanced module technology has been selected to power a new rooftop solar photovoltaic (PV) power plant for BKB Limited in South Africa. The 468 Kilowatt (kW) project is under construction at BKB Limited’s head office in Port Elizabeth and is expected to supply between 20% and 30% percent of the building’s annual site demand.

The power plant is expected to produce 750,000kWh of energy per annum, equivalent to the energy needs of approximately 200 average South African homes. The project is being engineered and constructed by Rhino Energy, a South African company specializing in the installation and engineering of renewable energy solutions. The project will take a maximum of six weeks to complete, from the start of construction to commissioning and handover.

“As a leading agricultural business in South Africa, BKB Limited is intimately aware of how vulnerable the agricultural sector is to the impact of climate change.  The decision to reduce our environmental impact through solar technology was a natural and strategically important decision for the group.  The implementation of a solar PV system not only reduces BKB’s carbon footprint and hedges against sharply rising electricity costs, but is also an imperative in lowering the carbon intensity of the natural fibres that we supply into international markets,” said Wolf Edmayr, Managing Director of BKB Limited.

“By consciously selecting solar energy to address its energy needs, BKB has contributed to the energy transition that is redefining global energy portfolios. This project is part of a broader response by corporations around the world that are actively fulfilling their commitment to be environmentally- and socially-aware, while also hedging against rising energy costs,” said Nasim Khan, Vice President for Africa at First Solar. “We applaud BKB for leading by example and for establishing a new benchmark in renewable energy for South Africa’s business community.”  

Dr. Stuart Fredman, Managing Director of Rhino Energy added: “The First Solar panels were the ideal solution for us as they offer highly predictable energy in all climates and applications, and are smaller and much lighter than any other available technologies, without compromising in any way on the efficiency and energy yield required.  This makes the installation faster as well as safer when working on a roof structure, while at the same time ensuring that the client still achieves the fastest energy payback time.”

About First Solar, Inc.

First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin-film modules. The company’s integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar’s renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.

For First Solar Investors

This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements, among other things, concerning: our business strategy, including anticipated trends and developments in and management plans for our business and the markets in which we operate; future financial results, operating results, revenues, gross margin, operating expenses, products, projected costs, warranties, solar module efficiency and balance of systems cost reduction roadmaps, product reliability and capital expenditures; our ability to continue to reduce the cost per watt of our solar modules; our ability to reduce the costs to construct PV solar power systems; research and development programs and our ability to improve the conversion efficiency of our solar modules; sales and marketing initiatives; and competition. These forward-looking statements are often characterized by the use of words such as "estimate," "expect," "anticipate," "project," "plan," "intend," "believe," "forecast," "foresee," "likely," "may," "should," "goal," "target," "might," "will," "could," "predict," "continue" and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed in Item 1A: "Risk Factors," of our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed with the SEC.