Last December 2024, IFC hosted its inaugural Agri-Finance meeting in Casablanca, bringing together IFC FIG Africa Clients and Partners for a day and a half of learning, networking, and knowledge exchange. The event centered on the critical role AgTech companies play in advancing food security and agricultural productivity across Africa. Discussions focused on how innovative technologies, including data and AI, can enhance financial inclusion for farmers, address food security challenges, and drive sustainable agricultural practices. John Kamara , founder of Afya Rekod shared valuable insights

At the Africa Financial Summit 2024 in Casablanca, IFC and pan-African reinsurer ZEP-RE (PTA Reinsurance Company) signed a partnership agreement to launch digital insurance solutions for smallholder farmers and agri-SMEs. Sergio Pimenta, IFC Vice President for Africa, signed the agreement on behalf of IFC, reinforcing the commitment to financial inclusion and climate resilience across the continent. IFC thanked Ms. Hope Murera, ZEP-RE MD & CEO, and the entire ZEP-RE team for their unwavering support in advancing financial protection for Africa’s farmers and agri-sector businesses. Read the

On December 2, 2024, in Abidjan, Côte d’Ivoire, the International Finance Corporation (IFC) and a Consortium of Insurers—comprising Atlantique Assurances, SanlamAllianz, and AXA—signed a groundbreaking cooperation agreement under the IFC’s Global Inclusive Insurance Program (GIIF), co-financed by the BMZ. This partnership aims to enhance the resilience of Côte d’Ivoire’s agricultural sector by providing tailored and accessible insurance solutions to smallholder farmers and SMEs, addressing risks from climate-induced challenges such as droughts, floods, and erratic weather. With a target to

A Year of Growth, Impact, and Ambition for 2025 As we step into 2025, it’s a moment to celebrate how far we’ve come and set our sights on the road ahead. The past year was filled with achievements, challenges, and invaluable lessons—each one shaping the foundation for an even stronger future. By the close of 2024, our collective efforts had led to nearly 15 million Climate Insurance policies issued, reaching an estimated 75 million beneficiaries worldwide. These numbers aren’t just statistics—they represent smallholder farmers securing their livelihoods, families rebuilding after climate

The Global Index Insurance Facility (GIIF) is excited to announce the launch of our latest eLearning modules: Technical Design and Premium Calculations for Crop Climate Insurances, designed to take your understanding of climate insurance to the next level. Building on our foundational Introduction to Index Insurance course, these new modules focus on the intricate details of calculating premiums for climate insurance contracts. Available on the OLC platform in both English and French, this advanced series offers a valuable opportunity for continued learning and skill enhancement. What’s New in

The article recently published by the Africa Reinsurance Corporation in their latest magazine edition underscores the pivotal role of the public sector in fostering the development and expansion of agricultural insurance, particularly in developing countries. It highlights the challenges faced by the agricultural sector, such as pest infestations, adverse weather conditions, and climate disasters, and how these risks threaten the sustainable development of agriculture. Despite the growth of agricultural insurance, particularly index-based policies, coverage remains limited and heavily skewed

In her recent travels across Latin America, Europe, and Africa, Florence Boupda Ngueda, Global Sector Manager of IFC's Financial Institutions Group, highlighted the growing impact of IFC’s efforts in expanding insurance markets. From São Paulo and Mexico City to Nigeria, Kenya, and Tanzania, IFC's investments are bolstering insurance sectors with a focus on resilience against climate risks. Ngueda underscored the urgency of bridging insurance gaps, noting IFC's milestone of issuing over 14 million policies globally through innovative index insurance programs, with GIIF playing a pivotal role

The PULA deal is crucial for IFC as it addresses the significant challenge of low agricultural insurance penetration across Africa, essential for food security. Limited field presence of insurers impede accurate risk assessment. PULA's operations and expansion plans offer a broad coverage, particularly benefiting small-holder farmers who are underserved by existing insurance arrangements. By training local agents and automating processes, PULA enhances operational scalability, vital for reaching more farmers effectively and building their trust. This aligns with the Finance Investement Group

By Fatou Assah, IFC Financial Institutions Group, Global Head As we embark on a new year, it's an opportune moment to reflect on GIIF journey through 2023, a year marked by significant achievements, innovative advancements, and a consistent commitment to enhancing climate resilience and financial inclusion for smallholder farmers, MSMEs, and cooperatives active in the agriculture sector through support of innovative solutions to the insurance industry. The year 2023 marked a significant milestone for GIIF, as we exceeded our initial targets and facilitated the issuance of over 14 million

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