There are five big reasons why water is a business risk.
So said Kevin James, CEO at GCX Africa, in an interview on Bruce Whitfield's The Money Show.
He lists them as such:
World Economic Forum - A global water crisis has been identified as the top risk facing humanity for the next decade. The simple fact is that in order to meet our human needs – let alone economic growth aspirations – we need a lot more water than we have, and the deficit between supply and demand is only getting worse globally, though much more extreme in South Africa. This is, logically, very concerning given that we cannot survive without water and, from a business perspective, water is an input (and therefore embedded) in literally everything we produce and consume.
Any significant changes in water quality, availability and price (which is inevitable) will shift entire sectors and their global competitiveness. South African companies are generally not applying sufficient resources to fully understand the extent of this impact on their future business performance.
Shortages and compromised quality of water will exacerbate all other major risks facing business - unemployment, food insecurity, poverty, inequality, energy shortages, migration; all of which place added pressure on business. Due to the interconnectedness of all these risks; the consequences are very difficult to predict and therefore navigate.
On top of being one of the most water stressed countries globally, made worse by climate change, South Africa also has added challenges of crumbling infrastructure, corruption, financial resources, skills shortages and lack of political will to authentically address the issue, which really leaves it up to consumers (business as well as individuals) to futureproof themselves.
- Probably the most concerning of all of the above is that - while we certainly have the intelligence and solutions to solve all these issues - the most significant barrier is a psychological one; the challenge people face in understanding and responding appropriately to the gravity of the current and pending crises.
Listen to the interview in the audio below for more detail.
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
Yet, there’s a 60% chance that the best case scenario – 5% growth – is about to materialise, says scenario planner Clem Sunter.
Entertainment and news are being used to change the way you see the world and not always truthfully.
Andy Rice knocks TUC biscuits for a tweet that seems to make fun of listeriosis.
The Money Show’s Bruce Whitfield interviews former Sars spokesperson Adrian Lackay.
The Money Show’s Bruce Whitfield interviews Norton Rose Fulbright Director in Litigation Lauren Fine.
Sleep is as vital for complex life as food, water and oxygen. Bruce Whitfield interviewed FAB Quotient's Joni Peddie.
Callers debate white privilege and land reform on the Eusebius McKaiser Show.
This World Water Day, Kieno Kammies gets the latest on the water crisis in Cape Town.
A Grade 10 learner was killed by a truck en route to a shipping container depot situated next to Maitland Secondary School.
Consumer journalist Wendy Knowler explains how a new court ruling will impact consumers applying for credit in South Africa.
The Western Cape Premier is in the spotlight again due to posting an 'insensitive' tweet about Life Esidimeni tragedy.
Entrepreneur Max Lichaba built his own empire and is the CEO of Lichaba Creations and several other businesses. This is his story.