This archive report was first published on 8 October 2019.
On October 8, 2019, the African Risk Capacity (ARC) and the Southern Africa Development Community (SADC) signed a Memorandum of Understanding (MoU) on disaster risk management and financing in the region.
The SADC region is prone to various climate and natural disaster risks, including droughts, floods, tropical cyclones, and epidemics, which have had devastating impacts on populations and hindered economic growth.
According to Dr. Mohamed Beavogui, Director-General of African Risk Capacity, the partnership will enable the region to better profile disaster risks, strengthen response capacities, and offer sovereign insurance options for rapid action during natural catastrophes.
Since 2014, 32 ARC policies have been signed by member states, with $73 million paid in premiums for a cumulative insurance coverage of $553 million, protecting 55 million vulnerable populations in participating countries.
