Workshop: Agricultural and climate risk insurance in Uganda
On 27 July, Social Finance facilitated a workshop on agricultural and climate risk insurance in Uganda, organized as part of our partnership with IFAD's Insurance for Rural Resilience and Economic Development Programme (INSURED) and in collaboration with the Agro Consortium (AIC). The workshop shared lessons learned on the demand and supply side, success factors and opportunities for improvement for climate and agricultural risk management in the country. The discussions focused on awareness raising, education, delivery modalities and the role of technology in creating value for smallholder farmers, and the financial and non-financial institutions working with them.
Agriculture is the main source of income for a large part of the Ugandan population. Despite significant progress in reducing poverty, the growth rate of the sector has stagnated at about 2 per cent for almost two decades. Ugandan agriculture is rain dependent, making it vulnerable to weather hazards and risks associated with climate change. In addition, the current production structure of agriculture in Uganda is dominated by small-scale farmers who are most vulnerable to shocks.
Given this context, INSURED seeks to increase resilience and capacity to manage risks and to improve livelihoods of poor rural households. As part of its partnership with INSURED, Social Finance facilitated an online workshop, bringing together different stakeholders to share knowledge on developing solutions and creating opportunities to increase smallholder farmers’ access to agricultural and climate risk insurance in Uganda. Over 40 participants attended the workshop, representing stakeholders such as the Ministry of Agriculture, Animal Industry and Fisheries, the Ministry of Finance, Planning and Economic Development, the Central Bank, the Ugandan insurance regulator, financial service providers, insurance companies, farmer federations and farm output buyers, as well as technology services providers and insurance intermediaries.
Public and private sector players shared lessons learned on the demand and supply side, along with successes and opportunities for improvement for agriculture and climate risk insurance related activities in the country, with a focus on smallholder farmers. Implementing organizations shared emerging trends, challenges faced as well as steps being taken to overcome them. The discussions focused on awareness and education, delivery modalities and the role of technology in order to create value for smallholder farmers and (non-)financial institutions working with them.
Different interactive formats facilitated an open exchange of experiences and ideas. The presentation from AIC gave an overview of the government supported Uganda Agriculture Insurance Scheme. The presentation from INSURED focused on the demand and supply side opportunities and challenges, as well as initial insights from an oil seed smallholder insurance pilot project implemented with Pula. The participants appreciated the informative mix of topics and the open discussions as a great opportunity for knowledge and experience sharing.
Given this context, INSURED seeks to increase resilience and capacity to manage risks and to improve livelihoods of poor rural households. As part of its partnership with INSURED, Social Finance facilitated an online workshop, bringing together different stakeholders to share knowledge on developing solutions and creating opportunities to increase smallholder farmers’ access to agricultural and climate risk insurance in Uganda. Over 40 participants attended the workshop, representing stakeholders such as the Ministry of Agriculture, Animal Industry and Fisheries, the Ministry of Finance, Planning and Economic Development, the Central Bank, the Ugandan insurance regulator, financial service providers, insurance companies, farmer federations and farm output buyers, as well as technology services providers and insurance intermediaries.
Public and private sector players shared lessons learned on the demand and supply side, along with successes and opportunities for improvement for agriculture and climate risk insurance related activities in the country, with a focus on smallholder farmers. Implementing organizations shared emerging trends, challenges faced as well as steps being taken to overcome them. The discussions focused on awareness and education, delivery modalities and the role of technology in order to create value for smallholder farmers and (non-)financial institutions working with them.
Different interactive formats facilitated an open exchange of experiences and ideas. The presentation from AIC gave an overview of the government supported Uganda Agriculture Insurance Scheme. The presentation from INSURED focused on the demand and supply side opportunities and challenges, as well as initial insights from an oil seed smallholder insurance pilot project implemented with Pula. The participants appreciated the informative mix of topics and the open discussions as a great opportunity for knowledge and experience sharing.