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Sub-Saharan Africa

Climate Risk Insurance Training in Luanda, Angola

Climate Risk Insurance Training in Luanda, Angola

5
Mar
The Agência Angolana de Regulação e Supervisão de Seguros (ARSEG) plays a critical role in developing the agricultural insurance market by providing an enabling environment for private-sector investment in Angola. IFC is supporting ARSEG in developing an enabling environment for agricultural insurance to promote the resilience of farmers in Angola against the impacts of climate change and increase their financial inclusion. ARSEG keen on a holistic regulatory framework conducive to index insurance innovation, consumer protection and allowing for more sustainable market growth. As first step in
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IFC Climate Insurance AgTech in Africa
24
Apr

IFC Climate Insurance AgTech in Africa

Selin Konrat, Sandra Carrollo
This blog highlights IFC's critical role in supporting climate risk insurance products through collaborative efforts between its Advisory and Investment teams, other development partners and public-private stakeholders. It features a project example involving various levels of engagement within the WBG, which started from a pilot in 2010 and led to an investment in 2024. In 2010, the World Bank Group's Global Index Insurance Facility (GIIF) program started providing technical assistance and capacity building support to Kilimo Salama (KS), an index-based microinsurance product developed jointly
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Financing Climate Resilience for Malawi’s Smallholder Farmers

Financing Climate Resilience for Malawi’s Smallholder Farmers

Published on:
Country:
Malawi
In the wake of Cyclone Freddy's devastating impact on Malawi's smallholder farmers, the story of Jeya Nsinda stands as a testament to resilience and hope. Cyclone Freddy swept away not just crops but also the livelihoods of countless farmers, leaving them grappling with food shortages and financial struggles. Amidst this adversity, One Acre Fund, in collaboration with IFC, is making a significant difference by providing climate insurance to smallholder farmers in sub-Saharan Africa, offering a lifeline to those who depend on the land for their income. This partnership is not just about
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[Interview] IFC Climate Insurance AgTech in Africa with Florence Boupda

Get ready for an insightful discussion with Florence Boupda , the Global Sector Manager for Banking Insurance at the IFC’s Financial Institutions Group (FIG) . In this exclusive interview, we delve into recent deals shaping the insurance sector and how they align with FIG's vision for expansion. Florence highlights the strategic advantages of these deals in line with IFC's sustainability agenda, offering valuable insights into leveraging collaboration between Advisory and Investment Services to pursue further opportunities. Join us as we uncover the strategic roadmap for advancing sustainable
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[Interview] IFC AgTech: Expanding Crop Insurance for Small-Scale Farmers in Africa with Zeeshan Vazeer

Join us for an engaging interview with Zeeshan Vazeer , Global Head of Insurtech and Senior Industry Specialist for Insurance at IFC’s Financial Institutions Group (FIG) . Zeeshan will explore the strategically important PULA deal within FIG's investment portfolio, discussing its significance and the factors influencing the investment decision. GIIF will also delve into challenges like operational scalability and the importance of trust in local communities. Through this insightful discussion, Zeeshan will analyze the transformative impact of the deal, offering valuable insights into future
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Financing Climate Resilience for Malawi’s Smallholder Farmers

Content owner:
https://www.youtube.com/watch
In the face of Cyclone Freddy's destructive aftermath, Jeya Nsinda, a resilient Malawian farmer and mother of three, triumphed over adversity with the invaluable support of climate insurance provided by One Acre Fund. The collaboration between IFC and One Acre Fund is a commendable effort aimed at extending this crucial financial safety net to 1.5 million smallholder farmers, mirroring Jeya's experience, across six African countries by 2025. This initiative is a pivotal component of IFC's Africa Inclusive Insurance Program, which delivers advisory services to various entities, including
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Senegal: Symposium on Index Insurance and Disaster Risk Financing for French-Speaking Countries

Senegal: Symposium on Index Insurance and Disaster Risk Financing for French-Speaking Countries

Author:
Moctar Reginald Ba
We invite you to delve into the insightful symposium on index insurance and disaster risk financing for French-speaking countries, which took place in Dakar, Senegal. This event brought together over 120 participants from 15+ African nations, including experts, representatives, and stakeholders, to discuss innovative financial solutions for enhancing farmers' resilience to climate-related risks. The symposium emphasized the development of accurate index designs, the importance of partnerships between governments and the private sector, and the role of financial institutions in distributing
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Sub-Saharan Africa
31
Jan

Exploring insurtech’s competitiveness and cross-industry relevance in South-East Asia and Africa

IFC recently concluded two regional insurtech mapping studies in Africa and South-East Asia. The studies provided useful insights on industry trends and investable opportunities. Insurtech is reimagining insurance for incumbent (re)insurers and customers. Key trends include data-driven process optimization, industry-agnostic product development and cloud-based platforms . Usage-based personalized products and personalized customer service platforms such as offered by Naked Insurance are industry-agnostic and provide a large value add applicable across various insurance sectors. Remote claims
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Looking East: Lessons for Nigerian Insurers from Kenya’s Digital Insurance Ecosystem
28
Jan

Looking East: Lessons for Nigerian Insurers from Kenya’s Digital Insurance Ecosystem

Anne Wangalachi
During December 5 – 8, 2022, a delegation of seven Nigerian industry experts were on a learning mission in Kenya. The study tour was organized as part of the GIIF South-South knowledge exchange effort for incumbent insurers transitioning to digital insurers. The delegates work towards transforming Nigeria’s insurance industry through the agile design, promotion and adoption of insurtech to increase the protection cover for millions of Nigerians. This was the second phase of the Neo Insurer Training Initiative (NITI). The study tour took the delegates to Safaricom, APA Insurance, ACRE Africa
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AI-powered soil testing amplifies farmer productivity and climate resilience in Ethiopia
27
Jan

AI-powered soil testing amplifies farmer productivity and climate resilience in Ethiopia

By Anne Wangalachi and William Mulehi
What if there was a solution to help farmers take the guesswork out of what to plant in their fields and how to optimally nourish it based on the soil nutrient profile? This is precisely what Omishtu-Joy is providing to smallholders in Ethiopia. Omishtu-Joy, which means “Joy of the Farmer” in Afaan Oromo (a native Ethiopian dialect), has developed a soil testing device that uses artificial intelligence (AI)-powered sensors to measure different soil parameters. These soil fertility parameters include pH levels, nitrogen, potassium and phosphorous, humidity, radiation, temperature and soil
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