Browsing: PTA Reinsurance (ZEP-Re

• 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 …