Ghana’s capital Accra is a significant business hub and has a high natural vulnerability to flooding. A combination of unplanned spatial developments, high percentage of paved areas, lack of proper solid waste management, and lack of maintenance for the drainage system result in frequent flooding during (but sometimes even outside) the rainy season. It is expected that climate change further aggravates this. Metropolitan, Municipal and District Assemblies (MMDAs) in the Greater Accra Metropolitan Area (GAMA) face significant challenges to finance reconstruction work after floods. The negative

The ferocious impact of flooding on livelihoods and property demands efficient and ecofriendly adaptation measures. The Greater Accra Metropolitan Area (GAMA), Ghana loses a huge amount of resources to flooding every year. Although various interventions and measures have been put in place to ensure that flood risk in GAMA is properly managed, some Metropolitan, Municipal, and District Assemblies (MMDAs) in GAMA face significant challenges to finance reconstruction work after floods. Chronic cash constraints mean that reconstruction of non-critical infrastructure is often delayed or not

Cities in Ghana, like anywhere else in sub-Saharan Africa, have grown substantially over the past decades. Rapid urbanization has outpaced the capacity of the authorities to plan and sustainably manage cities. Consequently, urban planning lags urban growth. Overall, the sprawling of towns has increased poverty and income inequality and has resulted in the growth of informal settlements and increased disasters. In Accra, flooding, fires, diarrheal disease have become perennial events. In recent years, there has been a high incidence of disasters occurring every year, leaving negative impacts on

The Greater Accra Metropolitan Area (GAMA), Ghana experiences perennial rain events on an almost annual basis. This heavy rainfall causes significant economic and physical losses to the Accra region. For instance, approximately 40% of all assets managed by Accra Metropolitan Assembly (AMA) have reported flooding in previous years, while 40 AMA-managed assets are located in major flood zones. Estimates point to roughly ninety million Ghanaian Cedi (GHS) of material damages for these premises. Developing an appropriate insurance product is thus vital in coping with these flood risk damages. It

The Strategic Alliance GIZ-Allianz-BIMA is a collaboration between the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Allianz SE, Allianz Re and BIMA MILVIK, which joined forces to support governments, SMEs and households across the globe in strengthening their risk management plans. On the topic of climate risk, the project is currently working in Morocco and Ghana, developing integrated risk management solutions that incorporate insurance products. Vulnerability to climate change and natural disasters is increasing worldwide. Strategies must be developed to better

Natural disasters and their associated damages severely impact people around the world every year. Increases in exposure and vulnerability at a global level, linked to the multiple concurrent trends such as climate change, population growth and globalization of supply chains are making it imperative to find strategies to manage disasters more holistically. Integrated Disaster Risk Management (IDRM) is an approach for dealing with the risk and manifestation of natural disasters. It is characterized by a holistic perspective with regards to the various components of risk management. IDRM differs

This roadmap is developed from work undertaken on ICRM through the “Promoting Integrated Mechanisms for Climate Risk Management and Transfer” project (“ICRM project”) implemented by the Deutsche Gesellschaft für International Zusammenarbeit (GIZ) GmbH and the Munich Climate Insurance Initiative (MCII). In Ghana, the ICRM project is working across three Workstreams within the agriculture sector: (1) sovereign drought risk insurance, (2) building capacities for risk prevention and risk reduction and (3) the development of insurance products for commercial agricultural actors.

The African Risk Capacity (ARC) is a continental sovereign risk pool and early response mechanism designed to execute pre‐approved contingency. ARC’s mission is to help African Union Member States to protect the food security of their vulnerable populations. As an insurance risk pool, ARC’s objective is to capitalize on the natural diversification of weather risk across Africa, allowing countries to manage their risk as a group in a financially efficient manner in order to respond to probable but uncertain risks.

The creation of a contingency plan is one of the prerequisites to participate in the African Risk Capacity (ARC) as this pre-planning process ensures that countries are able to deploy ARC funds quickly and efficiently in case of weather shocks.

The objective of the project is to provide the agriculture market in Ghana with more options to hedge against weather risks resulting from droughts and floods. This includes insurance solutions, sovereign risk transfer solutions (through ARC) as well as agricultural risk prevention and/or reduction measures. Additionally, a roadmap was developed to outline recommended next steps to up-scale and intensify the efforts toward an integrated climate risk management in the agricultural sector.