Dr. Rets’elisitsoe Matlanyane Launches Lesotho Chapter of the Institute of Risk Management South Africa (IRMSA)
In a significant step towards enhancing Lesotho’s approach to risk management, the Minister of Finance and Development Planning, Dr. Rets’elisitsoe Matlanyane, officially launched the Lesotho chapter of the Institute of Risk Management South Africa (IRMSA). The event marked a pivotal moment in the development of risk management practices in the country.
During her keynote address, Dr. Matlanyane emphasized the importance of recognizing the growing relevance of risk management in both the public and private sectors. “This is a refreshing moment,” she noted, “as the risk management sector is finally maturing and becoming a crucial part of everyday work, even though it has long been given little recognition.”
Dr. Matlanyane highlighted that the effectiveness of governance structures and the stability of institutions are inherently linked to robust risk management practices. She pointed out that institutions must reflect on how well they are implementing risk management strategies, as these are critical to navigating challenges and ensuring organizational success.
“The rise and fall of institutions on governance rely on risk management,” Dr. Matlanyane said. She stressed that it is no longer optional but imperative for institutions to develop frameworks that thoroughly address potential risks, helping them avoid pitfalls that could lead to operational failures.
The launch of the IRMSA Lesotho chapter is expected to play a vital role in advancing risk management standards within the country, offering resources, training, and professional development opportunities for risk management practitioners. It will also create a platform for sharing best practices and fostering collaboration across various sectors.
Dr. Matlanyane concluded her remarks by expressing her optimism for the future, noting that a solid risk management culture can lead to more resilient institutions, better governance, and, ultimately, sustainable development for Lesotho. She also encouraged both public and private entities to embrace risk management as a cornerstone of their operational strategies.
The Lesotho chapter of IRMSA is set to contribute to the broader goal of improving risk management not only in Lesotho but across the Southern African region. The launch marks the beginning of a new era in how organizations in Lesotho approach and manage risk, aiming for a future where institutions are more prepared and resilient in the face of uncertainty.
