Confab to equip leaders on strategies to mitigate business risk

Plans have been concluded by Safety Consultants and Solutions Provider Limited (SCSP) to empower business leaders and investors with the tools needed to navigate today’s complex financial and regulatory landscape.

The group stated that with the current increasing complexity of business risks, it would leverage its expertise in advisory and technical process safety services to provide industry leaders with the right strategies, tools, and technical safety solutions to mitigate risks and drive long-term profitability.

Lead Consultant, SCSP, Antonia Beri, said this during a media briefing ahead of the firm’s conference slated to be held on April 3, with the theme, ‘Securing Business Value, Investments, and Assets through Expert Advisory and Technical Services.’

She stressed that given the current economic volatility and regulatory challenges, businesses needed to adopt strategic expert advisory to optimise operations, ensure sustainability and stay competitive.

According to her, committing to strategic counsel is an investment towards the company’s resilience and future readiness.

Expressing the fact that only a fraction of corporates in Nigeria work with experts’ advisors when crucial, she, however, said multinationals, including Dangote Group and MTN Nigeria, have been leveraging proactive engagement with advisory partners to fortify their business objectives and asset integrity.

According to her, leveraging expertise is not a luxury but a backbone of resilience, maintaining that a well-executed advisory strategy will help businesses unlock untapped potential and safeguard assets from unseen risks.

Beri stated that the forthcoming conference expected to be held in Lagos will address the gap amid other risk management issues.

Citing some instances, she added “Dangote Group’s $19 billion refinery project and MTN Nigeria’s regulatory overhaul demonstrate a major value of strategic advisory. Dangote partnering with global firms like HSBC, Deloitte was able to secure end-to-end financial and technical consultancy to mitigate risks associated with construction delays, cost overruns, and regulatory hurdles.

“MTN, tapping the strength of players like PwC and KPMG, was able to reinforce its governance structures after facing a $5.2 billion regulatory fine in 2015. Both companies were able to successfully mitigate risks, optimise operations, and reinforce compliance, resulting in improved logistics and cybersecurity, enhanced governance and fraud detection, reduced costs and regulatory penalties, as well as Increased investor confidence and stakeholder trust.

“The high-level forum will equip business leaders and investors across sectors such as construction, ICT, manufacturing, oil and gas, among others, with the tools needed to navigate today’s complex financial and regulatory landscape.

“With the increasing complexity of business risks today, we shall be leveraging our expertise in advisory and technical process safety services to provide industry leaders with the right strategies, tools, and technical safety solutions to mitigate risks, and drive long-term profitability.”