PHYSICAL RISK SOLUTIONS LTD – COMPANY PROFILE

Physical Risk Solutions LTD: Providing Private Security and Capacity Building in East Africa

Joined ICoCA in May 2015

ICoCA Certified Member since April 2022

Physical Risk Solutions: More Than Private Security

Physical Risk Solutions (PRS) is a private security and risk management company operating globally with a regional focus in the Somali Peninsula. With a security force of over 600 personnel, PRS offers services such as armed and unarmed guarding, risk mitigation, secure transportation, and capacity building to its diverse clientele base. Since its founding in 2009, PRS has serviced NGOs and international organisations around the world, notably including the European Commission, World Bank, INTERPOL, and various United Nations agencies.

PRS currently operates as one of the largest private security providers in East Africa. Richard Wilson, CEO of Physical Risk Solutions, explains that PRS is dedicated to “building local communities, infrastructure, and capacity by engaging in collaborative, long-term strategies to build a more secure world.”

PRS became a member of ICoCA in 2015, a partnership which Mr. Wilson believes “gives invaluable guidance, provides a forum for like-minded debate, and ensures we remain proactive in maintaining our moral and ethical compass.” PRS is committed to the communities in which it serves, and is working to expand its business in accordance with high professional standards.

“ICoCA gives valuable direction, advice, and best practise to ensure we meet our obligations and commitments,” Mr. Wilson explains. “Being a member also ensures our clients are more aware.”

Navigating the Challenges of Responsible Operation

But despite global calls for improvement in the private security sector, Mr. Wilson believes that little actual progress has been made since the signing of the Code in 2013. “Yes, there is more emphasis on important issues such as the UN Charter of Human Rights, gender equality, and promoting a healthy workplace environment,” Mr. Wilson says, “but there is still a very long way to go before we can say we have achieved our goals.”

Evolving challenges facing private security providers have likely contributed to this lapse in progress. According to Mr. Wilson, PRS’ mission to set a positive example and encourage due diligence is made more difficult by a lack of understanding or commitment from clients regarding national initiatives on the above-stated issues. Additionally, it is often unclear where companies like PRS should dedicate their time and resources in order to maximise impact.

“To build resilience, we must have a strong knowledge of existing threats, put mitigation plans in place, and build local relationships with companies and communities,” Mr. Wilson explains.

Perhaps one of the greatest obstacles to responsible security in the private sector is an increase in competition. “The clients’ drive for cheaper services and more value whilst demanding more from a contractual perspective is a challenge, and can drive standards down,” Mr. Wilson says. “There is a greater emphasis on businesses to find the right balance on how to stay compliant while remaining competitive and financially viable.”

The Role of Human Rights in Creating a Safer Future

However, ICoCA and its Member organisations are working to increase compliance with the Code and raise awareness about human rights protocols. Companies such as Physical Risk Solutions are actively seeking to positively impact the status quo, going beyond risk management and exemplifying high standards and good governance.

“On a more positive note, the global market still offers opportunity,” Mr. Wilson adds. Despite changes in the field stemming from emerging technology and innovation, “there will always be a place for those who have the desire and aptitude to work in the security and risk management community.” It is the objective of ICoCA and its Member companies, however, to ensure that this community is governed responsibly, with human rights at the forefront.

Learn more about Physical Risk Solutions by visiting their website.