The EU Tech Chamber (EUTECH) Africa Alliance webinar on “Insurance for Competitive Farming in Africa” started off with a short overview of the organization and a formal introduction of the panelists by our moderator, Ms. Svetlana Nyameyo who is the coordinator of the Africa Alliance.
The webinar was co-moderated by Ms. Pheladi Chiloane who is the Founder & Managing Director (MD) at African Agricultural Solutions.
The three experienced panelists for today’s webinar were:
• Mr. Amath Pathe SENE, Managing Director (MD) at Africa’s Food Systems Forum (AGRF) ,
• Mr. Patrick Sampao, Product Innovation & Partnership at Africa Mradi, Mozilla,
• Mr. Niraj Varia, Group CEO at iProcure Ltd.
The webinar highlighted key characteristics of conventional crop insurance, such as physical crop monitoring, static product design, high costs, and inaccuracies. Popular crop insurance products discussed included those addressing pest and disease as well as weather-related risks.
Challenges faced by conventional crop insurance were identified as limited data, high transaction costs, restricted credit access, limited insurance options, adverse selection, and lack of trust.
Moreover, the webinar explored the future of crop insurance, emphasizing emerging technologies like blockchain and artificial intelligence, as well as concepts like bundling and dynamic product design.
Ultimately, the main objective outlined was to enhance Africa’s efforts in developing healthier, inclusive, sustainable, resilient, and equitable food systems that contribute to achieving the Sustainable Development Goals (SDGs) by 2030.
We want to thank our respectable speakers for their informed insights on this much-needed topic. Moreover, special thanks to Ms. Svetlana Nyameyo for moderating the webinar and distributing Tree-Certificates to the panelists.
Above all, sincere thanks to all our attendees – your comments, compliments, and questions. Stay tuned for our next Africa Alliance webinar on June 21, 2023, about “Africa and the Metaverse Opportunities and Challenges”.