Kreston Pedabo Champions Enterprise Risk Management Growth Across Africa

Folalumi Alaran in Abuja

Leading accounting and advisory firm Kreston Pedabo has launched a continent-wide survey to better understand how African organisations are adopting Enterprise Risk Management (ERM) in an increasingly complex and unpredictable business environment.

The initiative calls on business leaders, risk managers, and other key stakeholders to contribute their perspectives on ERM maturity, challenges, and opportunities.

The survey is designed to help organisations benchmark their risk practices and identify areas for improvement or targeted support. Kreston Pedabo hopes the insights gathered will drive stronger board-level commitment and elevate ERM as a strategic, value-enhancing discipline rather than a routine compliance exercise.

Experts continue to warn that organisations without robust ERM frameworks may struggle to respond effectively to shocks, from financial disruptions to regulatory and reputational crises. A mature ERM structure allows leaders to proactively identify, assess, and mitigate risks, supporting stronger decision-making and protecting long-term value.

Kreston Pedabo notes that effective ERM programmes align risk considerations with strategic planning, improve resource allocation, and build resilience through enhanced crisis preparedness and continuity planning. Beyond improving organisational stability and performance, ERM also reinforces governance, regulatory compliance, and accountability to boards, investors, regulators, and other stakeholders.

A healthy ERM culture further promotes ownership of risk at all levels, encouraging transparency and a clear understanding of risk appetite, which supports more consistent financial outcomes and safeguards critical assets.

Despite these clear advantages, ERM remains underdeveloped in many African businesses, held back by limited board-level awareness, insufficient regulatory drivers, and resource constraints.