African Risk Capacity Group (ARC), a pan-African mutual risk management organization, announced during a conference in Dakar, Senegal, on September 9, 2020, that it plans to launch a new product to help its member countries fight floods. “This product is already in a pilot phase in Côte d'Ivoire, Ghana, Gambia, and Togo and will be available to all member states,” the institution said in a statement. The solution is expected to be operational next year.
Also, ARC is working with the African Center for Disease Control and Prevention (Africa CDC) on covid-19 modeling tools for Africa to enable its member states to better manage this pandemic and help the populations that need it most.
The recent floods reported in Nigeria, Abidjan (Côte d'Ivoire), Douala (Cameroon), and Dakar (Senegal) are a reminder of how important it is to take this type of risk into account in the future. When they do occur, they very often leave the affected people without an appropriate response. Global insurance deals very often do not specify what to do in the event of flood-related damage.
The agricultural sector needs a particular focus on flood-related damage management. According to estimates, the sector sustains about 70% of people in Sub-Saharan Africa. Heavy rains, floods, and drought periods represent major risks for these poor people who cannot afford conventional insurance services.
In Nigeria, for example, it is reported that floods will reduce rice production by about 25%, exposing the country to more imports.
Idriss Linge
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
The MTN Nigeria Dabengwa Tier 3 Data Centre is more than just a physical infrastructure project — it’s a foundational investment in Nigeria’s digital...
• South Sudan initiates a $58 million, four-year project to transform basic education nationwide.• The program aims to directly benefit over 300,000...
• Cape Verde reclassified as an upper-middle-income country due to a 16.8% rise in GNI per capita.• Namibia downgraded to lower-middle-income after a...
• Ivory Coast grants two new four-year gold exploration permits to Global Industries Sarl and Rampage Exploration Sarl.• National gold production reached...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...