Weather insurance for African farmers
Insurance company Zurich Financial Services has partnered with a Swiss government agency and UN group International Labor Organisation (ILO) to provide microinsurance to African farmers.
Over four hundred thousand people in Ethiopia, Ghana, Kenya, Malawi, Mali, Nigeria, Rwanda, Senegal, Tanzania and Uganda are now protected from a loss of income from low crop yield by low cost weather insurance protecting them against drought and other natural disasters. This follows the launch of a $2 million (SFr2.34 million) scheme to protect 150,000 farmers in Ethiopia, Kenya and Mali against the economic effects of severe droughts. Zurich has also pledged support for ILO’s Microinsurance Innovation Facility.