The Greater Accra Metropolitan Area (GAMA) suffers from rainrelated floods almost every year. This development is likely the result of several factors, including a rapid expansion of sealed-off surface, unplanned urbanization, weak infrastructure, inefficient waste collection and disposal system, as well as a changing climate with more intense rainfall events compared with earlier decades. GAMA is the economic hub of Ghana and is made of 29 metropolitan, municipal and district assemblies with an estimated 5.1 million inhabitants – making it the seventh-largest metropolitan area in Africa1 .

The severe flood event of 2015 served as a wake-up call to many stakeholders. It was reported as among the ten deadliest disasters worldwide in 2015, affected 52,622 people with 150 deaths recorded. Damage to infrastructure totaled US$55 million, and rebuilding costs were estimated at US$105 million2 . The disaster has already led to a variety of activities that should lead to better flood risk management. So far, these activities have focused on data collection and analysis, infrastructure improvements and capacity building. Risk transfer, as a component of an Integrated Disaster Risk Management (IDRM)3 approach had not yet been looked at. Since extreme weather events cannot be totally avoided, some residual risks will remain whatever preventive measures are applied.