Crop insurance deal to benefit millions of farmers - FarmKenya Initiative

FARMKENYA INITIATIVE
News
By Nanjinia Wamuswa
| January 9th 2021 at 01:00:00 GMT +0300
ZEP-RE CEO, Hope Murera (L) and George Kuria CEO of ACRE Africa (R) at ZEP-RE headquarters in Nairobi.
Millions of smallholder farmers in Kenya and other African countries will benefit from an agriculture insurance deal by two players in the industry. The deal was mooted following the move by Insurer ZEP-Re to acquire 56 per cent stake in Agriculture and Climate Risk Enterprise Ltd (Acre Africa).
ZEP-RE CEO Hope Murera said the deal will help smallholder farmers access affordable insurance solutions for their agricultural ventures.
“In Sub-Saharan Africa, more than 70 per cent of the population depends on agriculture for its livelihood. However, agricultural insurance, is rarely available to them. Where it exists, insurance covers a small segment of farmers. Smallholder farmers face numerous risks, especially related to changes in climate,” she said during the signing ceremony in Nairobi.

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