TEL AVIV, Israel, April 7, 2020 /PRNewswire via COMTEX/ — TEL AVIV, Israel, April 7, 2020 /PRNewswire/ — Agritask, a leading global developer of a holistic agronomic operations platform, in collaboration with Royal Exchange, General Insurance company limited, Nigeria’s premier insurance group in Nigeria, announced today the launch of a unique joint initiative digitizing crop and livestock insurance with a social KPI to underwrite 1 million small holder farmers by 2025. The initiative involves a variety of stakeholders in the agricultural sector and beyond, including banks, cooperatives, ag-consultants, input distributors, ag-buyers etc.
According to the UN, there are some 500 million smallholder farmers in the world. In Africa around 80% of farmers operate on a very small scale, however the UN says these smallholder farmers produce up to 80% of the food consumed in Africa and Asia. Liz Booth reports on a new initiative that could help these farmers develop into commercial entities, with the help of insurance at their backs