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CEF wins top Public Sector Risk Award

Wednesday, 04 November 2009 13:18

CEF (Pty) Ltd has won a major public sector risk award, in an initiative which is managed by the Institute of Risk Managers South Africa (IRMSA).

The Awards, now in their fifth year, recognise risk management as an important business discipline and celebrate outstanding professionals and companies.

This year's IRMSA ceremony was held at the Monte Casino Ballroom in Johannesburg at the weekend. The three main awards presented were: Risk Manager of the Year 2009, Best Government Risk Management Initiative 2009 and Most Effective Company Risk Management Programme 2009.

The judging criteria ranged from a specific outstanding achievement in any discipline of Risk Management to outstanding creativity, expertise and experience in managing the risk portfolio of an organisation.

CEF walked away with the award for Best Government Risk Management Initiative 2009. The Company was recognised by IRMSA for their ability to manage their Enterprise Risk Management (ERM) processes, maintain their risk database and monitor risks on a day-to-day basis.

"CEF has managed to instil risk management into their organisation's culture by creating awareness and providing ongoing assurance that all measures are being taken to safeguard their investments and ensuring business continuity," said Ms Janet Joubert, General Manager of IRMSA. "Effective Risk Management integrated across the enterprise is not only mandated in the King III Report on Corporate Governance but is the cornerstone to building a robust and successful business strategy, irrespective of the size of an organisation.

At IRMSA we are committed to the enhancement of the Risk Management discipline in its widest context. These awards are testament to that said Ms Joubert.

Mr Mputumi Damane, Group CEO of CEF, said the Company was honoured to receive the Award.

"As our country faces huge challenges on the energy front, CEF is involved in a major investment drive in renewable and alternative energy ventures which will help alleviate the power crunch."

"As a public institution we are duty-bound to take great caution to ensure that the assets entrusted to us by the State are not exposed to undue risk."

"It is comforting when what we may, as a matter of course, take as prudent business practice is acknowledged by an august institution such as IRMSA as a practice worthy of commendation," said Mr Damane.