Ethiopian pastoralists have received payouts for index-based livestock insurance offered by a local insurance company, Thomson Reuters Foundation reports. In Ethiopia, livestock insurance schemes were initiated by the International Livestock Research Institute, which has been providing technical support for the design and monitoring of the index in the country, the report adds.

Parametric insurance has the potential to serve a significant developmental role in Africa, as it pays out benefits based on a predetermined index for losses resulting from catastrophic events, Clyde & Co's Max Ebrahim and Wynne Lawrence wrote in Commercial Risk Online. In the article, GIIF's collaboration with ACRE Africa, which is serving the populations in Kenya, Rwanda, and Tanzania, is also cited.

At its Annual Meetings in Ahmedabad in May, the African Development Bank (AfDB) identified political will as one of the key ingredients to the continent's agricultural agenda, AllAfrica reports. According to AfDB President, other key strategies the AfDB is proposing are the development of industrial agri-businesses to raise productivity in the sector and ultimately support economic growth. In addition, the region needs to support its young people who are providing weather index insurance and extension services.

Reinsurance and insurance stakeholders in Sub-Saharan Africa say momentum for index insurance solutions in the region continues to grow, Reinsurancenews reports. Speaking ahead of the 10th Consultative Forum on building disaster resilience amongst small-scale farmers through agricultural index insurance, FSB Chair of the IAIS Regional Committee for Sub-Saharan Africa, said: “agricultural index insurance in Sub-Saharan Africa is gaining momentum."

Accra, Ghana, 27 April 2017 – IFC, a member of the World Bank Group, and Africa Reinsurance Corporation supported a two-day technical workshop on risk modeling and strategic decision-making for index insurance products. Most of the agricultural land in Sub-Saharan Africa is rain-fed, and many regions are vulnerable to climate shocks such as drought, flooding, and irregular rainfall. To limit their losses in any given year, smallholder farmers often invest very little into their land, which leads to reduced yields and contributes to food insecurity. Insurance can be a good risk management tool

Index insurance, water harvesting, diverse cash crops, land management, new technologies, and community-based approaches are expected to enhance Ethiopia’s resilience to climate change, according to UN Development Programme. “The Government of Ethiopia has recognized its vulnerability and has been working hard to pursue climate resilient development growth,” said Ethiopia’s Deputy Prime Minister Demeke Mekonnen speaking at a high-level humanitarian meeting in early 2017. Read more here .