The article discusses the contribution of a human perspective in the analysis of security risk within the context of foreign direct investment in Africa. Exposure to increased levels of security risk as a result of conditions on the continent and the nature of the investment emphasises the importance of corporations’ ability to manage risk effectively. A conceptualisation of security illustrates the significance of a human perspective and this would allow the risk analysis to address the underlining causes of security threats to the corporation. As the activity that initiates the risk management process, the risk analysis provides an informed basis from which long-term risk management strategies can be formulated.