African Risk Capacity Presents ¢32.9 million to Govt as 2024 Drought Insurance Payout
The African Risk Capacity (ARC), led by its Director General, Dr Jean Ngabitsinze, has presented a GH¢32.9 million cheque to the Government of Ghana as the 2024 Drought Insurance Payout at a ceremony in Accra.
The payout follows a successful nationwide drought impact data validation exercise conducted across all sixteen regions.
The ceremony, witnessed by the National Disaster Management Organisation (NADMO), the Ministry for the Interior and other stakeholders, marked a key milestone in Ghana’s climate risk financing efforts.
Speaking at the event, Dr Ngabitsinze commended Ghana for its strong institutional coordination and adherence to protocol, which strengthened the country’s response to climate-related shocks.
The Director General of NADMO, Major Dr Joseph Kuyon (Rtd), expressed appreciation to ARC, the Global Shield Solutions Platform against Climate Risk, and the KfW Development Bank of Germany for their continued partnership.
He described the payout as timely, noting that it would enable the government to respond swiftly and effectively while cushioning vulnerable communities from the socio-economic impacts of drought.
The Deputy Minister for the Interior, Hon. Ebenezer Okletey Terlabi, also described the payout as a significant milestone in Ghana’s disaster risk financing and response framework, highlighting the value of the ARC’s proactive risk pooling mechanism in supporting rapid responses to climate shocks.
The data validation exercise was conducted by NADMO in collaboration with technical experts from the Ministry of Food and Agriculture, the Ghana Statistical Service, the National Association of Peasant Farmers and other relevant institutions.
The African Risk Capacity Group is a specialised agency of the African Union that assists African governments in better planning, preparing for, and responding to extreme weather events through innovative risk financing mechanisms.
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