Zambia to Launch Agri Comprehensive Insurance Program
The 4-year program was launched in order to protect smallholder livestock producers from climate change related problems and illnesses
The project for inclusive livestock insurance was tested and has been in the feasibility study stage since 2015. It is a joint effort between Mayfair Insurance and the Zambian Financial Sector Deepening Limited (FSD Zambia).
It would strive to address the problems encountered by smallholder farmers in Zambia, including women, who suffer financial losses due to stock theft, diseases, and unfortunate climatic circumstances.
This program is hoped to unleash the country’s potential and increase its competitiveness both domestically and abroad after it has been implemented throughout the entire nation.
It is further expected to increase access to high value and comprehensive agricultural insurance products for smallholder farmers by strengthening climate resilience and expanding their production, particularly for those growing crops and keeping livestock.
According to the Zambian Agribusiness Magazine, the FSD Zambia CEO, Engwase Mwale, said the project is envisaged to improve and increase access to high value and comprehensive agriculture insurance products for an initial 30,000 small holder farmers, while those growing crops and rear cattle countrywide would be covered in due course to assist alleviate challenges faced by smallholder farmers.
Source: Zambian Agribusiness Magazine