Kilimo Salama, micro-insurance programme won the 2012 Financial
Times’/ International Finance Corporation award for Technology in Sustainable
Finance at a gala dinner in London’s Landmark Hotel. The index-based insurance
cover compensates farmers when they experience produce loss as a result of
adverse weather.
Kilimo Salama (Swahili for ‘safe farming’) is a partnership between
UAP Insurance Company Ltd and Swiss-based Syngenta Foundation for Sustainable
Agriculture (SFSA).
The program uses individuals’ cell phones and weather
stations to provide farmers with affordable and simple insurance on a pay-as-you-plant
basis.
Currently about 64,000
farmers in the country have taken up the cover for next season and plans are
underway to expand to other countries in the region beginning with Rwanda.
The awards that are in their 7th year, attracted
this year 161 entries from 145 financial institutions and 36
non-financial groups in 67 countries.
Standard Chartered was named Global Sustainable Bank of the
Year while South Africa’s Nedbank was the regional winner of Africa /Middle
East.
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