This archive report was first published on 7 November 2019.
Published on November 7, 2019, Senegal has received $23.1 million in compensation from the African Risk Capacity (ARC) for drought-related losses in the 2019 agricultural season.
The African Risk Capacity (ARC) insurance agency announced that the compensation would assist in providing early support to the people affected by drought during the 2019 agricultural season.
Initially, ARC had announced that the Government of Senegal would receive a minimum of $22 million to cover losses from crop failures, caused by severe rainfall deficits in the 2019 agricultural season.
However, the final payout of $23.1 million represents a five per cent increase from the initial amount, totaling $1.1 million more.
According to ARC's tool, Africa RiskView, quoting the Senegalese government meteorological agency, the Agence Nationale de l'Aviation Civile et de la Météorologie (ANACIM), at least 975,000 people would be directly affected by the drought.
Senegalese Interior Minister, Mr Aly Ngouille Ndiaye, expressed the government's commitment to the African Risk Capacity, stating, 'We are extremely committed to the African Risk Capacity. ARC uses innovative financing to protect the resilience of our populations.'
Senegal is one of the founding member states of ARC and has been affiliated with the agency since its creation in 2012. The country was also one of the first to take out a drought insurance policy with ARC in 2014, with an estimated annual premium of CFAF 1.5 billion.
