Kampala, Uganda: Small holder farmers in Uganda are set to receive a boost to their economic activities through specially designed agricultural insurance programs over then ext three years.
MINET, the largest Pan African Insurance company operating in Uganda for over 60 years, is set to provide risk management and human resources solutions to the farmers to guard against common risks and challenges encountered during the farming seasons including natural disasters.
Together with INPUTI, a digital marketplace offering agricultural market-based solutions for input supply & produce-trading for local farmers, MINET has developed the program to cater for the agricultural sector and sub sectors with a focus on the “agripreneurs” (entrepreneurs combining Farming and Agriculture with a professional Business Approach) in order to help them improve the efficiency and effectiveness and increase their productivity and profitability.
INPUTI is using technology through collaboration with its not-for-profit sister organization Prosper Mama Africa to empower rural communities of small holder farmers in leading their own development through mindset and behavior change, providing access to modern equipment, quality inputs and grain storage facilities, and carrying out refresher trainings.
Speaking during a ceremony to mark the partnership between MINET and INPUTI, Mr. Maurice Amogola, MINET Chief Executive Officer, said, “As we all appreciate, now more than ever before, the economy of Uganda is driven by agriculture with 75% of Ugandans operating in the agricultural sub sector and while the government has been providing some subsidies of the premiums in the sector, we now have the ability to advise farmers and those getting into the sub sectors with a view of commercialization, that they can now insure against the risks of some of the aspects of the agricultural business and get consultancy and place their insurance.”
“We have signed this Memorandum of Understanding (MoU) with INPUTI and Prosper Mama Africa so that as they develop and give support to the small holder farmer groups in the rural communities on the various aspects of risks, we will also advise on insurance and be able to ensure that they can cover their crops as they grow and should any of the challenges that affect farmers including the weather, pests and other risks, MINET is able to put our insurance
program towards them. We will advise them on availability and premiums on a continuous basis. We are excited about this new initiative and we are looking forward to having as many farmer groups as possible embrace insurance and also get support on the aspect of risk management in their business so they are protected.”
INPUTI and MINET are to provide technical and implementation support for the insurance program for the small holder farmers in various parts of Uganda. The program will rely upon sensitization, implementation, and monitoring of the farmers projects and will address financial literacy, risk management and insurance.
Founder and Chief Executive Officer of Inputi, Mr. David Lukwago said, “INPUTI’s goal is to improve efficiency and effectiveness in the agricultural sector by using technology to match Agripreneurs in order to increase their productivity and profitability and is working to address
one of the root causes of poverty in Africa. INPUTI’s vision is to improve the living standards of farming communities in Sub-Saharan Africa. With this partnership with MINET, INPUTI shall
provide technical project design and implementation support for the programs being proposed for farmers in various parts of Uganda.”
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