Browsing: agriculture insurance

• The Kenyan Government has partnered with ZEP-RE (PTA Reinsurance Company), Kenya Development Corporation (KDC), and the World Bank, to launch the De-Risking, Inclusion, and Value Enhancement of pastoral economies (DRIVE) project.
• Over 250,000 households are expected to benefit from the World Bank-backed project representing 1.6 million pastoralists and their dependents across Kenya, Ethiopia, Somalia, and Djibouti over a five-year period.
• DRIVE project seeks to de-risk pastoral systems through insurance, savings, and financial education while de-risking private sector investments that provide reliable markets to millions of pastoralists including women and youth.

In drought-stricken Kenya, millions of dead livestock tell of lost livelihoods as the worst dry spell in a half-century sweeps across the Horn of Africa. Latest data estimates that over 2.6 heads of livestock—cattle, goats and even camels, erstwhile “ships of the desert”—have died due to lack of water and pasture following failed rains, piling huge pressure on pastoral families …

Insurance provides farm income stability by compensating the losses to the farmers in a timely and efficient manner. It ensures that the farmer is kept on the farm doing what they know and loves best, farming, thereby contributing to food security.

The majority of the farming community in Africa generally operates on thin margins. Most do not have title to land or any bankable assets that they can use as collateral to access finance for the much-needed inputs. By using the insurance policy as collateral, the farmers can access the finance they need, source the right inputs on time and be more productive per unit area, thereby contributing to the food security of their country, apart from also creating their own margins.

The National Bank of Commerce (NBC) in Tanzania have an Agricultural Insurance product in collaboration with Jubilee Insurance Company, aimed at protecting farmers, fishermen, and livestock keepers in …