Index Insurance Forum

Senegal

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Mr. Ndianko Sakho, a Senegalese millet producer, speaks about his experience with agricultural index-based insurance in a new GIIF Result Stories. "In the past, farmers had no climate risk management tool. Today with the introduction of agricultural insurance, I can say that some of our concerns are taken into account. The real challenge right now is to set up a national network of coverage in order to allow all Senegalese farmers to have access to agricultural index micro insurance," says Mr. Sakho. The Result Stories is part of a new bilingual series produced in 2017 to capture farmers'...
Compagnie Nationale d’Assurance Agricole du Sénégal (CNAAS) has selected Africa Re, the most prominent African Reinsurer, to lead the reinsurance program of 40,000 cotton and maize farmers in Senegal, jointly with AXA CS and CICA Re, according to a press release issued by Africa Re . The news indicates a positive development in the agriculture sector in Senegal, which accounts for 35% of annual GDP, as the country is facing several climate-related risks including drought and floods, undermining food production and jeopardizing food security. The development of index insurance in Senegal can...
A newly designed Global Index Insurance Facility's Country Profile for Senegal is available for digital viewing . The document contains an overview of GIIF's project in Senegal and partner, PlaNet Guarantee. Also available in French .
In an article entitled "After a Poor Harvest in Senegal, farmers Find Creative Ways to Carry On", Oxfam wrote that Senegalese farmers use index insurance to protect their livelihoods from a bad harverst due to poor rainfall. " Farmers can pay the premium with cash, or through a work-for-insurance program designed to help build community infrastructure like rock walls in areas prone to flooding and severe erosion, or small dikes to store water for more gradual use," reads the article. In Senegal, index insurance is provided through the Oxfam and the World Food Programme’s R4 initiative. Click...
In Proparco's Private Sector & Development magazine, Chloe Dugger, Operations Officer in WBG's Finance and Markets Global Practice, and Rachel Sberro, Research Analyst on agriculture finance, write about WBG's Global Index Insurance Facility's experiences with index-based insurance in Senegal and Bangladesh. Their article focuses on micro- and meso-level approaches to distributing agricultural index insurance, which speeds up claims settlement by dispensing with loss assessments and payouts are determined on an objective basis, eliminating the risk of fraud. Please visit Proparco's...
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Apr
“ We’re all Senegalese, and we should all have access to insurance ” says Yoro POULO BA, a groundnut farmer from Ndoffane, a commune from the center of Senegal who just received insurance payouts as part of the GIIF-supported index insurance project. This year, the rains during the month of July - the sowing period for groundnut - were extremely low, therefore triggering automatic payouts for what is called “sowing failure”. The payouts that he has received amount to about 30% of the total insured amount, which is the amount of credit that he has borrowed for seeds and fertilizers needed for...
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Feb
Weather variability is a key limiting constraint to investments and the modernization of agriculture in Senegal. The drought-prone Sahel is characterized by irregular rainfall and relatively poor soils. Created in 2008 as a public-private partnership, the National Agricultural Insurance Company of Senegal (CNAAS) is in charge of underwriting crop and livestock insurance. At the request of the Minister of Finance of Senegal, a feasibility study was completed in 2009 by the World Bank to assess the potential of index insurance. This study recommended the development of weather-based index...
This report explores evidence and insights from five case studies that have made significant recent progress in addressing the challenge of insuring poor smallholder farmers and pastoralists in the developing world. In India, national index insurance programmes have reached over 30 million farmers through a mandatory link with agricultural credit and strong government support. In East Africa (Kenya, Rwanda and Tanzania), the Agriculture and Climate Risk Enterprise (ACRE) has recently scaled to reach nearly 200,000 farmers, bundling index insurance with agricultural credit and farm inputs...
PG activities started in 2012 with index insurance for maize and groundnuts. The first year the price of the product was very high and few farmers bought the product. The product was reviewed with the farmers’ organizations and CIRAD in 2013.
PlaNet Guarantee has designed various index insurance products in Benin, Burkina Faso, Mali and Senegal. The project works with Banks, MFIs, Cooperatives and NGOs as main distribution partners in these countries.
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