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Ghana - Agro insurance crucial in government agricultural transformation agenda

Government’s agricultural transformation agenda cannot be realized without agro insurance, according to General Manager of Ghana Agricultural Insurance Pool, Alhaji Ali Muhammad Katu.

He says flagship programmes such as Planting for Food and Jobs should be backed with interventions to deal with potential risk.

“In case of crop failure the farmer should not go and sell his assets; he should be compensated,” Alhaji Katu emphasizes.

Ghana is a signatory to the Malabo Declaration on Accelerated Agricultural Growth and Transformation for Shared Prosperity and Improved Livelihood.

Commitment Six requires enhancing resilience system for vulnerable groups in Africa.

The Ghana Agricultural Insurance Programme has since inception in 2011, developed the first agricultural insurance for Ghana.

It also initiated a key adaptation measure to climate change.

Nineteen Ghanaian insurance companies which form the Ghana Agricultural Insurance Pool, ensure a solid financial foundation.

Alhaji Katu bemoans the level of patronage but says the programme has trained agricultural extension officers to sensitize farmers on insurance.

The group presented two cheques for a total of 1, 480,716. Ghana cedis to Premium Foods at Jachie Pramso in the Ashanti Region.

It covers benefits for losses the company suffered in 2017 major season on its farms at Afram Plains and Agogo.

Procurement Manager, Prince Andoh, is happy Ghana’s rain-fed agricultural finally has relief for excessive floods and fall army worm.

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