Zimbabwe Receives US$31.8 Million Drought Insurance Cover
Zimbabwe has received US$31.8 million from the African Risk Capacity, an arm of the African Union, in drought relief aid.
The southern African country joined the African Risk Capacity (ARC) Agency in 2012.
The Minister of Finance, Economic Development and lnvestment Promotion, Mthuli Ncube, received US$16.8 million from ARC on Thursday, which was complemented by payments to Zimbabwe’s ARC partners, the World Food Programme (WFP) and Start Network of US$6.1 million and US$8.9 million, respectively.
Receiving the insurance cover, Ncube said that the drought relief funds will cover 27 districts across the country. Said Ncube:
Today, I am honoured, to, on behalf of the Government of Zimbabwe, receive the ARC drought insurance pay-out amounting to US$16.8 million.
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The pay-out is complemented by pay-outs to our ARC replica partners amounting to US$6.1 million to the WFP and US$8.9 million to Start Network.
Zimbabwe will, therefore, receive a total pay-out of US$31.8 million.
The insurance payout will be distributed to approximately 508,435 vulnerable households in 27 districts across the country.
Zimbabwe is currently facing an acute food shortage following an El Niño-induced drought, which has left more than half of the country’s population in need of food assistance.
In April 2024, President Emmerson Mnangagwa declared the drought a state of national disaster, issuing an appeal for resources from aid agencies and development partners.
Despite assurances that no one will die of hunger, the Zimbabwean government has revised its food relief funding appeal from the initial US$2 billion to US$3 billion.
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