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Vice President, Mutale Nalumango, has urged businesses to build agile and adaptive systems capable of responding swiftly to geopolitical shifts and rapid technological change.
Nalumango warned that emerging threats were “real, immediate and consequential” and called on risk managers to move beyond reactive approaches.
She was speaking in Livingstone on Thursday at the 2025 Annual Risk Conference held at Avani hotel.
“In such a dynamic environment, resilience is a necessity,” she said, stressing that success lay in integrating enterprise-wide risk management across all processes—from policy formulation and budgeting to monitoring.
The Vice President highlighted government’s commitment through reforms such as the Fiscal Risk Management Framework, risk-based internal audits, integrated financial systems, and standardised risk registers.
She reaffirmed government’s support for the Institute of Risk Management Zambia (IRMZA), co-hosts of the conference with the Ministry of Finance and National Planning.
IRMZA Executive Director, Francis Ziba, said the institute had so far trained 200 certified risk managers across key sectors, including banking, mining, energy, health and education.
“Our aim is to provide solutions to the economy’s challenges and equip organisations to quantify and manage risk responsibly,” Ziba said.
Ministry of Finance and National Planning acting controller of internal audits, Jamie Mukuwa, added that embedding risk management would enhance transparency and accountability in public finance.
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