The agriculture and agro-processing sectors are the mainstay of Madagascar’s economy, accounting for about 24 percent of GDP in 2020. About 80 percent of the country’s population is involved in agriculture. However, due to its geographical location, Madagascar is largely affected by natural disasters, including droughts, cyclones, and floods, which threaten agricultural productivity. The International Finance Corporation (IFC) is organizing a workshop to disseminate key results of the Madagascar Agriculture Insurance Diagnostic in partnership with the Ministry of Agriculture and Livestock

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 pipeline

To leverage innovative solutions, the Global Index Insurance Facility (GIIF) is organizing an agriculture Insuretech innovation challenge to be hosted in Nairobi, Kenya in March 2022 alongside the Sankalp Africa 2022 Summit. Through the Africa AgTech & Inclusive Insurance Challenge, the Facility aims to celebrate and support young entrepreneurs who are working at the intersection of agriculture, insurance, climate, and gender to build resilience for smallholder farmers. Businesses should have an existing insurance product for rural farmers or be working towards introducing an insurance product