Reinsurance agency ZEP-RE has been nominated by Kenya and different 4 international locations to assist livestock insurance coverage. FILE PHOTO | NMG

Reinsurance agency ZEP-RE has been nominated by Kenya and different 4 international locations to take a number of the dangers by underwriters providing loss safety insurance policies to livestock farmers as a part of a Sh45.3 billion programme.

The programme protecting a number of international locations and supported by the World Financial institution comes at a time Kenya’s Ministry of Agriculture says livestock value billions of shillings have died prior to now 5 months.

ZEP-RE is the reinsurance arm of Widespread Marketplace for Japanese and Southern Africa (Comesa).

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Director of Livestock Manufacturing Bishar Elmi mentioned not less than 2.6 million livestock have died between October final yr to February 2022, with the state of affairs anticipated to worsen as the consequences of drought proceed to be felt throughout the nation.

“We’ve misplaced a big a part of livestock since October final yr whose worth is estimated at Sh37.7 billion,” mentioned Mr Elmi.

The insurance coverage will embrace the Horn of Africa international locations like Djibouti, Ethiopia, Somalia and Eritrea, which may even be lined beneath this programme.

These international locations have been included within the drought insurance coverage programme dubbed Drive (De-risking, Inclusion and Worth Enhancement of Pastoral Economies), leveraging on the success of the Kenya Livestock Insurance coverage Programme (KLIP).

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The drive is a monetary intervention venture aimed toward defending pastoral economies in opposition to drought threat.

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