Zambia

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Jun
IFC’s Global Index Insurance Facility (GIIF) and the Wageningen University & Research (WuR) will brief participants on a recently completed review of GIIF’s engagement in Zambia, to understand farmers’ knowledge, perception, and utilization of insurance as well as satisfaction of GIIF’s supported activities in the country. The goal is to review the lessons learned and to receive guidance towards the implementation of GIIF’s future activities in the country, as well as to have an overall understanding of ways to better develop and improve products and services as part of the Facility’s...
Sifting grain
Mayfair Central Testimonial Weather Index Insurance is a microinsurance product, launched by Mayfair insurance in Zambia in 2014, and that has been helping small-holder farmers mitigate risks posed by climate change. Derick Chanda (Chairperson – Kangomba Camp) expressed that most of the farmers in the district did not have insurance to rely on, and that whenever they faced problems or challenges with their crops, they were not sure about where to go and who to ask for help. Now that insurance companies like Mayfair have presence in their lands, they have been able to discuss the...

What is Weather Index Insurance? By Mayfair Insurance

Mayfair Insurance, a GIIF Partner, has produced a video for awareness raising on index insurance during last season (2018).
The core objective of the project is to build the resilience of food-insecure smallholders through an integrated risk management approach which includes weather index insurance, assets creation, credit and savings interventions, and climate services.
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Jul
Smallholder farmers in Sub-Saharan Africa are some of the most vulnerable to the effects of climate change and adverse weather events. Weather-based index insurance can help farmers become more resilient by giving them a tool to manage their risk, protect their investment, and maintain their livelihood. But the insurance industry in the region has been slow to develop these products, mostly because they lack the necessary technical skills and capacity; high-level training helps develop these skills to create new and innovative index-based insurance products in the regional market, which in...
The World Bank Group has approved additional $14.6m IDA (loan and grant) financing for the Strengthening Climate Resilience (PPCR Phase II) Project that will help strengthen Zambia’s institutional framework for climate resilience and improve the adaptive capacity of vulnerable communities in the Barotse sub-basin of the Zambezi. The project is also expected to help integrate financial and technical services such as savings, micro-credit, and index insurance into the existing approaches to sustainable agriculture and climate resilience.
Poor rainfall in parts of Africa has triggered the largest insurance payout to date for smallholder farmers under the R4 Rural Resilience Initiative (R4), a program launched by the World Food Programme (WFP) and Oxfam America in 2011. African farmers will receive insurance payments totaling US$1.5 million to compensate for weather-related crop losses in Ethiopia, Kenya, Malawi, Senegal, and Zambia, Reliefweb reports , according to a WFP press release.
Johannesburg, South Africa, 18 January 2018 – IFC, a member of the World Bank Group, today announced a grant extension to Mayfair Insurance Company Zambia Limited, to support Mayfair in scaling up its weather-based index insurance product line in Zambia. The additional performance-based grant, awarded through the Global Index Insurance Facility, is expected to help Mayfair reach an additional 300,000 farmers by December 2019. Smallholder farmers in Zambia are vulnerable to weather-related shocks such as drought, flooding, and irregular rainfall. Insurance can be a good risk management tool...
PowerPoint slides from a consumer exercise undertaken in Zambia in December last year are now available. The session, held jointly by GlIF, ILO's Impact Insurance Facility, Risk Shield Consultants, and fsdZambia focused on lead farmers and channel partners who enlist smallholder farmers.
A newly designed Global Index Insurance Facility's Country Profile for Zambia is available for digital viewing. The document contains an overview of GIIF's project in Zambia and partner Mayfair Insurance. Read more about this program.
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