The Joburg Market has reaffirmed its reputation for strong governance and strategic foresight, achieving a Level 3.2 rating in the recent Enterprise Risk Management Maturity Assessment — a major leap from 1.6 in 2023/2024.

Conducted by independent auditors and based on ISO 31000, COSO, and King IV standards, the assessment recognised the organisation’s defined and integrated risk practices as a solid foundation for future growth.

At the core of this success is a robust, board-approved risk management framework aligned with the City of Johannesburg’s governance standards. The report highlights consistent identification, monitoring, and reporting of strategic and operational risks, supported by visible leadership and accountability.

Joburg Market’s Chief Risk Officer Phindile Shabalala was commended for her “outstanding” leadership in transforming the department into a proactive, forward-thinking unit.

Looking ahead, Joburg Market aims to progress to Level 4 (“Managed and Integrated”) by adopting a digital risk management platform to replace manual systems, and by expanding structured risk training across all staff levels.

“Our journey doesn’t end at compliance,” said Shabalala. “It’s about building resilience and ensuring that every risk decision contributes to Joburg Market’s long-term sustainability and service excellence while pursuing opportunities.”

Future initiatives include a Combined Assurance Framework, the use of Key Risk Indicators and analytics, and regular risk culture surveys to strengthen decision-making and stakeholder confidence.

The 2025 findings affirm that Joburg Market is not just managing risks but mastering them — ensuring resilience, sustainability, and service excellence while securing South Africa’s food supply chain.

Written by Tshegofatso Maakwe