AFC Insurance champions resilience, supports farmers against climate risks

AS Zimbabwe grapples with increasing climate variability, AFC Insurance emerges as a critical partner in bolstering agricultural resilience.

Following the devastating 2023/24 El Niño-induced drought, AFC is championing innovative insurance solutions to safeguard farmers against the growing threats of extreme weather events.

The drought’s impact was severe, causing widespread crop failures, water shortages, and food insecurity, particularly in marginal areas.

Livestock losses and rising human-wildlife conflict further compounded the crisis, underscoring the urgent need for robust risk management tools.

Recognising this, AFC Insurance has stepped up to provide tailored crop and livestock insurance products, equipping farmers with the financial safety net needed to recover from such disasters.

AFC’s approach integrates climate risk mitigation with long-term resilience-building strategies.

Its strategic involvement in the upcoming 2024/25 Seasonal Forecast Dissemination Conference at the Golden Conifer in Harare tomorrow, showcases its commitment to helping stakeholders understand, prepare for, and respond effectively to climate challenges.

The workshop, organised in collaboration with Government agencies, international organisations, and research institutions, will focus on unpacking the seasonal forecast and discussing strategies to manage climate risks.

Among the expected attendees are; representatives from the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development, Ministry of Environment, Climate and Wildlife, Ministry of Finance, Economic Development and Investment Promotion, Ministry of Local Government and Public Works, farmers’ unions, civil society organisations, researchers and academic institutions and the media.

The workshop comes at a critical time for Zimbabwe’s agricultural sector, which remains highly vulnerable to El Niño events and the broader effects of climate change.

Rising temperatures and unpredictable rainfall patterns exacerbate the risks, making it essential to adopt proactive measures.

AFC’s insurance products aim to address this need, providing coverage for crop damage, livestock losses, and other climate-related impacts.

AFC Insurance Company managing director Mr Cuthbert Masukume said the upcoming 2024/25 Seasonal Forecast Dissemination Conference is meant to review the impact of El Nino and also the upcoming season to say what is La Nina and the effects of it to the agriculture sector and how best can farmers prepare for it.

“Insurance should be treated as an input in agriculture. When a farmer is taking money from the bank, budgeting for, seeds, fertiliser, working capital, and labour, they should also put in that same budget a budget for insurance,” said Mr Masukume.

He encouraged farmers to attend as there will be a lot of deliberations with all stakeholders represented.

Insurance is increasingly recognised as a vital tool in mitigating financial losses caused by climate shocks.

By offering affordable and accessible coverage, AFC Brand empowers farmers to rebuild their livelihoods more swiftly after disasters.

The company’s focus extends beyond insurance policies; it is committed to raising awareness about the benefits of insurance and fostering a culture of preparedness among farming communities.

AFC will lead a key session during the workshop on the role of insurance as a risk management tool. This discussion will highlight how tailored products can help mitigate the economic impact of droughts and floods, ensuring that farmers are better equipped to withstand future challenges.

The workshop aims to strengthen collaboration among Government agencies, NGOs, research institutions, and private sector players.

Sessions will include lessons learned from the 2023/24 drought, strategies for interpreting seasonal forecasts, and the importance of early warning systems.

AFC Brand’s contributions will be pivotal in showcasing how insurance can complement these strategies, providing a practical solution to mitigate climate risks.

By fostering partnerships and promoting innovative solutions, AFC Insurance is positioning itself as a leader in resilience-building efforts.

Its commitment to supporting livelihoods and ensuring food security reflects a broader vision of empowering Zimbabwean farmers to thrive in an increasingly unpredictable climate landscape.

It invites stakeholders to explore its range of insurance products and services during the conference, which will also provide a platform for networking and knowledge sharing. Together, AFC and its partners are cultivating a future where Zimbabwe’s agricultural sector can weather any storm.

With a strong focus on innovation, resilience, and collaboration, AFC Insurance is helping to shape a more secure and sustainable future for Zimbabwean agriculture.chronicle