23 / 108
T
E
C
H
N
O
L
O
G
Y
R
I
S
K
S
O
P
E
R
A
T
I
O
N
A
L
R
I
S
K
S
F
I
N
A
N
C
I
A
L
R
I
S
K
S
S
T
R
A
T
E
G
I
C
R
I
SK
S
E
X
T
E
R
N
A
L
R
I
S
K
S
C
O
M
P
L
I
A
N
C
E
R
I
S
K
S
Our top risks
Using an integrated assurance methodology, in 2017 we considered the following
to be MTN’s most material risks based on the residual risk rating of each. This
takes into account the probability of the risk occurring, the impact should it
materialise and the mitigation strategies in place. Rankings change during
the year, however, each of these risks receives equal management attention.
RISK
RISK DESCRIPTION
1
Foreign exchange volatility and weakening currencies
2
Operational and compliance risks
3
Increased regulatory pressures
4
Suboptimal cash generation and upstreaming to the group
5
Political and economic risk in our key markets: South Africa, Nigeria and Iran
6
Spectrum cost and availability
7
Ability to successfully execute large group strategic and change programmes
8
Returns on capex deployed
9
Optimisation of investment portfolio
10
Increasing cyber and information risks
1
4
8
10
6
3
5
7
9
L
O
W
L
O
W
2
VERY
HIGH
Top risks to value creation
MTN Group Limited
Integrated Report 2017
21
How we create value