Index-based insurance to be launched in Cameroon

Two Cameroonian insurers, Activa Assurance and AXA Cameroun, have embarked on index-based agricultural insurance.

In partnership with the International Finance Corporation (IFC), which has allocated 270 million FCFA (461 000 USD) for this project, the two insurers will assist cotton, corn, sorghum and livestock farmers. The latter will benefit from insurance covers at a reasonable price.

The project Initiated by the Cameroon's ministry of agriculture aims at underwriting 135 000 contracts by the end of 2020. As a reminder, the primary sector employs 60% of the country's labour force and accounts for 20% of the country's GDP.