Managing Director for Marsh Malawi Oscar Mpando said the training was tailored to expand the corporate world’s knowledge on risks that they encounter.

Mpando said that there was need for managers in the country to be aware that managing risks go beyond insuring their businesses.

“We are involved in risk consultancy and insurance and this is one of the areas we would like to expand on in terms of awareness that the corporate world should know the risks that they are involved in and how to manage them correctly and appropriately. So we decided to engage some of our partners to try and broaden their knowledge in terms of managing risks,” said Mpando.

National Bank of Malawi was one of the participating firms. And according to its Head of Business Process Management Brian Boby, the training was timely as it has accorded business players opportunity to deliberate on the emerging risks as the world moves into a global village.

Said Boby: “We as people who are operating in the economy, we are constantly exposed to all risks, with the coming in of globalisation. And I think it's seminars like these where we share notes on the risks that are prevailing in our economy and the world at large and how best we can deal with them because as a country we are not exempted at all. We need to take relevant action to mitigate against the risks that are emerging.”

Making a presentation, Senior Risk Consultant for Marsh Africa Thuli Mpanza tipped the managers on the need to incorporate risk management tools when putting in place various strategies in their businesses.