Browsing: Crop Insurance

• The project, launched in 2022, cuts across multiple services offering farmers a cushion to be stable and profitable.
• The project aims to support over 300,000 farmers in 2023 with the partnership.
• At least $140 million of loss is faced by Tanzania due to drought annually.

Ground-breaking crop insurance has been introduced in Tanzania to cover crop loss and safeguard farmer earnings. The crop insurance was introduced by a fertilizer manufacturing company, Yara Tanzania, in collaboration with Jubilee Insurance.

The transformative solution dubbed ‘AfricaConnect’, leverages technology to offer farming solutions as farmers in Africa grapple with the challenges of climate change.

The project, launched in 2022, cuts across multiple services offering farmers a cushion to be stable and profitable.

According to Yara Tanzania, Managing Director, Winstone Odhiambo, AfricaConnect has enrolled at least 83,000 so far, accessing crucial funding solutions, high-quality and dependable fertilizer, extension services, and a ready market for their …

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 …