The Agriculture Insurance Scheme has grown to
Shs4.5b in terms of premiums, with actual utilisation from the
government programmes standing at Shs1.5b, according to the Agro
Consortium, which brings together
10 local insurers.
Speaking at the National Agriculture and Food Security Forum in Kampala yesterday, Ms Joan Nyangoma, of the Agro Consortium, said over the past two years, the scheme has been able to reach 50,000 farmers across the country.
10 local insurers.
Speaking at the National Agriculture and Food Security Forum in Kampala yesterday, Ms Joan Nyangoma, of the Agro Consortium, said over the past two years, the scheme has been able to reach 50,000 farmers across the country.
“We have settled claims worth Shs2.1b as of 2017 and the exposure nationally is about Shs12b,” she said.
In his address, Mr Musa Lukwago from the Ministry of Finance, urged the private sector to get involved in the scheme to increase uptake.
In his address, Mr Musa Lukwago from the Ministry of Finance, urged the private sector to get involved in the scheme to increase uptake.
“This
is a pilot agriculture insurance scheme, which in our view needs to be
complemented by the private sector, because demand from the farming
communities is very broad,” he said.
The forum seeks to mitigate agricultural risks in order to enhance food security and agricultural commercialisation in Uganda.
The forum seeks to mitigate agricultural risks in order to enhance food security and agricultural commercialisation in Uganda.
Findings
shared at the forum also showed that a host of structural challenges in
particular farm inputs being used, lack of well researched data on
yields and numerous taxes have stood in the way of wide uptake of
insurance cover by farmers.
“We have been trying out
insurance protection with our farmers in the vegetable oil sector but
with little success. It has turned out to be very expensive and more so
since most of our farmers use loans, we need a way out,” said Ms Connie
Masaba from the Vegetable Oilseed Development Programme in the Ministry
of Agriculture.
Advancing agricultural insurance,
experts argue, government must before anything, sort the value chain
constraints such as inputs, which according to Joshua Balungira from
University of Anglia, will guarantee a higher yield.
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