Business

Micro-insurance key in agriculture insurance

KELLY NJOMBO, Lusaka
GRAND Insurance Brokers Limited will next month conduct a pilot project in micro-insurance in agriculture to promote insurance uptake among small-scale farmers in the country.
Company managing director Henry Mulambo said farmers usually experience losses due to lack of access to insurance.
Once the pilot project starts, some of the company employees will be attached to a group of foreign experts who will train them in various skills.
“Next month, we will be conducting a pilot project on micro-insurance relating to agriculture. We are certain that agriculture insurance targeted at small-scale farmers will be enhanced, and this will go a long way in reducing poverty in our rural communities.
“Our farmers are normally hit whenever there are floods or drought thus, the importance of agriculture insurance cannot be over-emphasised,”Mr Mulambo said this during the company’s Golden Jubilee luncheon in Lusaka on Friday last week.
Mr Mulambo said the company has expanded its operations to nine provinces to enable people in rural areas access insurance and complement Government’s commitment to create jobs and wealth for the local people.
“We have continued creating jobs and wealth as a way of contributing towards the growth of the economy because the challenge of job creation should not be left to Government alone,” he said.
Mr Mulambo said due to the favourable economic environment that has been set by Government, currently the company has an average count of 20 sales and K20, 000 average premiums underwritten per day.
Next year, the company intends to double its figures to contribute positively to the gross domestic product.


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