Busiku Hanamwanza’s Post

Crop insurance is vital for building resilience in Zambia’s agricultural sector, ensuring that farmers can withstand the financial shocks associated with climate change. As droughts and other extreme weather events become more frequent, crop insurance provides a way for farmers to secure their livelihoods and continue contributing to food security and economic stability across the country.

🌍🌾 We make history in Zambia and Africa! This year, Zambia has gone through one of the worst drought in the country’s history. We’re proud to share that this week, over 500,000 smallholder farmers in Zambia are receiving financial support through Africa's largest-ever crop insurance payout, with a total of 800 million Kwacha (30 million USD) distributed to help them recover from the impact. 32% of smallholder farmers in Zambia are now covered by our crop insurance, providing them with vital protection against climate risks. The milestone could not be achieved without the collaboration with Zambia Ministry of Agriculture, ZSIC General Insurance, Professional Insurance Corporation Zambia Plc. - PICZ, Savenda General Insurance, and Madison General Insurance Company Zambia Limited, Phoenix of Zambia Assurance, Hollard Insurance, Africa Digital Financial Inclusion Facility (ADFI). Together, we aggregate the power of collaboration, resilience, and innovation in the face of climate challenges. #ZambiaPayout #AgriculturalInsurance #ClimateResilience #SmallholderFarmers #Pula #ADFI #FISP #FoodSecurity

READ MORE: PULA's innovative approach to use a human-centred design approach to develop bundled microinsurance targeting women smallholder farmers in Zambia, Nigeria and Kenya. This initiative, with technical and financial support from the Africa Digital Financial Inclusion Facility (ADFI), contributes to #ADFI's mandate to overcome the systemic barriers to the growth, take-up and use of digital financial solutions across the continent. Photo essay: https://lnkd.in/eySmSezK #digitalfinancialinclusion

Smallholder farmers form the bedrock of Zambia's food security. However, their lack of adequate financial resources and dependence on rainfed agriculture makes them susceptible to the adverse effects of climate change. Access to appropriate and affordable insurance services not only offers protection for smallholder farmers but also has the potential to unlock their productivity. If anyone ever needed insurance, a smallholder farmer does.

Nigeria’s recent economic reforms—subsidy removal and FX liberalization—aim to stabilize the economy but have hit households hard. Though targeting growth, these policies have driven inflation, eroded purchasing power, and pushed many Nigerians below the poverty line. The recent subsidy removal aims to channel funds toward infrastructure, but it’s hitting household budgets hard. Prices of essentials like food and energy have surged, most pressing low—and middle-income families. Many are forced into austerity, cutting back on nutrition and relying on credit.

Imagine a Zambia where every smallholder farmer thrives, ensuring our national food security even in the face of climate change. Unfortunately, many farmers remain vulnerable due to their dependence on rainfed agriculture. This dependence makes them particularly vulnerable to unpredictable weather patterns, droughts, and floods. Without adequate support, their ability to produce food and sustain their families is at risk. Inclusive insurance solutions are designed to help these farmers build resilience against climate impacts, yet uptake remains critically low. A 2020 Finscope report revealed that 40% of adults in Zambia have never heard of insurance.This lack of awareness prevents farmers from accessing essential resources that could safeguard their livelihoods. Together, we can change this narrative! By raising awareness about inclusive insurance options, we empower our farmers and create a stronger, more secure future for all. #FsdZambia #InclusiveInsurance #FoodSecurity #ClimateResilience #Zambia #EmpowerFarmers

The Almighty Allah(SWT)-"আল্লাহ ব্যবসাকে হালাল করেছেন, সুদকে হারাম"!!! Neither credit, micro-credit; with collateral or without collateral; with interest or without interest Nor any Foreign AID, Loan, grant, reward or award but community based "partnership of Land. Labor and Capital" not only can eradicate poverty for un/under employment but also could transform discriminations into dignity for sustainable development and democracy without interference of dominating diplomacy of the Donors! Dear Stakeholders concerned, I was born in a rural land lord family and for being grown up within the farmers’ community, I had the opportunity to closely observe the livelihoods of the poor farmers; their problems & sufferings mainly due to poverty and witnessed the “evil cycle of creation poverty”___ how hundreds of well-off farmers’ family became and are becoming poor to poorer for loss of yield due to frequent natural calamities; depriving of high yield due to lack of technical knowledge / latest information and for want of sufficient fund to apply / use modern technology of farming; incurring loss due to high cost of agricultural inputs and lower price of outputs and thereby being badly indebted for borrowing money from the lenders consequently losing of all of their ownings becoming bound to leave their ancestral home for uncertain destination, mainly to the Cities, for search of work, food and shelter, creating extra burden & increasing pollution for living in footpath &/or in the unhealthy urban slum to become again prone to and victims of further disasters. Solution: If a third party entrepreneur, Development Agencies(I/NGOs) or any Life and/or Non-Life Insurance Companies would come forward with the capital to invest in “Four share basis partnership farming” that the Peasants / Agriculture Laborers will only contribute their labor and get (say) 25% share of the total outputs; the Land Owners will only give their agricultural land for cultivation and will also get (say) 25% of the total outputs and the concerned Entrepreneur/Development Agency/I/NGO, responsible for investment of money, modern technology, management & supervision of the entire project of farming under Crop Diversification Program, will also get (say) 25% of the total outputs of the respective land to be cultivated under the proposed partnership-agreement. The REMAINING 25% share of per crop yield-revenue shall be deposited and accumulated in the "Common Contingent Fund" to buy Crop/Agriculture Insurance, Mass/Group health & Life Insurance of all family members of the peasants, land owners including the employees of the Investors plus Catastrophic Risk Mitigation & Financing of the respective Area & Communities is the master-key to Agri-based rural industrialization and Integrated Rural Development for eradication Poverty due to Unemployment and/or Under-Employment, and by Natural Calamity!!! Regards, Mohammed Iqbal Mazumder ACII

🌾 Tackling Climate Uncertainties in Northern Ghana 🌾 The recent dry spells in Northern Ghana have underscored the vulnerability of our smallholder farmers. It’s time for the government and key stakeholders to step up with robust insurance schemes to protect these farmers from climate risks. A big shoutout to Farm North Ghana Limited on the completion of our risk assessments for smallholder farmers. This efforts are crucial in helping farmers navigate these challenging times. Let’s support initiatives that provide a safety net for our farmers, ensuring food security and sustainable livelihoods. 🌍💪 #ClimateChange #Agriculture #Insurance #SmallholderFarmers #Ghana

There are significant opportunities for insurance companies and agricultural businesses to secure their income through insurance solutions in the Somali regions. By developing index insurance coverage, we can strengthen our economy and ensure a more resilient future for our agricultural sector. Let’s work together to achieve this goal. #AgricultureInsurance #IndexInsurance #EconomicGrowth #SomaliAgriculture #InsuranceSolutions #ResilientEconomy #Agribusiness #InsuranceInnovation #SecureIncome #FutureOfFarming

🌍 Insuring the 600 million smallholders who feed us? 𝙎𝙢𝙖𝙡𝙡𝙝𝙤𝙡𝙙𝙚𝙧 𝙛𝙖𝙧𝙢𝙚𝙧𝙨 𝙥𝙧𝙤𝙙𝙪𝙘𝙚 𝙤𝙣𝙚-𝙩𝙝𝙞𝙧𝙙 𝙤𝙛 𝙩𝙝𝙚 𝙬𝙤𝙧𝙡𝙙'𝙨 𝙛𝙤𝙤𝙙 𝙨𝙪𝙥𝙥𝙡𝙮 𝙖𝙣𝙙 𝙤𝙫𝙚𝙧 70% 𝙤𝙛 𝘼𝙛𝙧𝙞𝙘𝙖’𝙨 𝙛𝙤𝙤𝙙. 𝙔𝙚𝙩, 𝙡𝙚𝙨𝙨 𝙩𝙝𝙖𝙣 3% 𝙤𝙛 𝙨𝙪𝙗-𝙎𝙖𝙝𝙖𝙧𝙖𝙣 𝘼𝙛𝙧𝙞𝙘𝙖𝙣 𝙨𝙢𝙖𝙡𝙡𝙝𝙤𝙡𝙙𝙚𝙧𝙨 𝙖𝙧𝙚 𝙞𝙣𝙨𝙪𝙧𝙚𝙙 against risks like droughts, floods, and other climate issues. Without protection, one bad season can ruin livelihoods and threaten food security. 𝗔𝗴𝗿𝗶𝗰𝘂𝗹𝘁𝘂𝗿𝗮𝗹 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 can provide a lifeline! Here are some key players helping smallholders: 𝟭. 𝗣𝘂𝗹𝗮 🌱 - 𝘀𝘁𝗮𝗿𝘁𝗲𝗱 𝗶𝗻 𝗞𝗲𝗻𝘆𝗮  PULA supports smallholder farmers by offering climate insurance through digital tools, benefiting over 20 million farmers globally. Insurance is embedded in products like seeds and loans. Earlier this year, Pula raised $20M in Series B funding. 𝟮. 𝗔𝗖𝗥𝗘 𝗔𝗳𝗿𝗶𝗰𝗮 🌾   ACRE Africa offers index-based insurance products triggered by weather data, eliminating lengthy assessments and speeding up payouts. Active in Kenya, Rwanda, Tanzania, and Zambia, ACRE ensures quick recovery from climate shocks. 𝟯. Kvuno 𝗯𝘆 Solidaridad Network 👩🌾  Kvuno is an inclusive platform that offers smallholders access to climate insurance, credit, and markets in one place. It improves productivity and connects them to sustainable opportunities across Africa. Solidaridad Southern Africa Bonus:   IBISA NETWORK (𝗜𝗻𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗕𝗹𝗼𝗰𝗸𝗰𝗵𝗮𝗶𝗻 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲) Using satellite data, IBISA automates payouts within 10 days after climate events, efficiently protecting farmers from weather risks. Active in India, Senegal, and beyond, IBISA boosts farmers’ resilience. Challenges for Insurance Uptake: 💸 𝗛𝗶𝗴𝗵 𝗖𝗼𝘀𝘁𝘀: Premiums are often too expensive for smallholders.   🤔 𝗗𝗶𝘀𝘁𝗿𝘂𝘀𝘁: Many farmers distrust insurers due to past delays in payouts. Hope on the Horizon! Tech innovations like mobile platforms and satellite data are making agricultural insurance more affordable and accessible. These advancements ensure tailored coverage, faster payouts, and lower costs. 𝗪𝗵𝗮𝘁 𝗗𝗼 𝗬𝗼𝘂 𝗧𝗵𝗶𝗻𝗸? How can we build trust and make insurance more affordable for smallholders? Do you know of any innovative players? Share your thoughts! 💬⬇️ #Agriculture #Insurance #Africa #Farmers #Innovation #FinancialInclusion #ClimateChange