This archive report was first published on 10 September 2019.
On September 10, 2019, the African Risk Capacity Insurance Company (ARC) announced that Senegal would receive at least $22 million in drought insurance compensation.
The pay-out will cover losses from crop failures caused by severe rainfall deficits in the 2019 agricultural season.
According to ARC, the compensation is part of the organization's commitment to working with member states to build resilience and reduce vulnerability against natural disasters in the continent.
ARC Director General Mohamed Beavogui stated, 'The vision of African Union in establishing ARC was to present a powerful value proposition that will help member states better understand their disaster risk profiles, access viable early warning tools, and develop a preparedness plan for protecting livelihoods of their vulnerable population from predictable natural disasters.'
Senegal's Director of Civil Protection and Programme Supervisor Abdoulaye Noba acknowledged the transparency of the process and the promptness of pay-outs, saying, 'We were among the first countries to embrace the African Risk Capacity mechanism for the protection of our people from recurring droughts.'
The expected pay-out will bring the total disbursements by ARC Ltd to the Government of Senegal to $38 million since 2014.
