He made the call yesterday in Mukingo sector of Nyanza district, Southern Province saying the initiative aligns with the country’s vision to fast track Rwandans development.
The insurance product dubbed ‘Tekana Urishingiwe Muhinzi-Mworozi’ loosely translated as ‘Farmer, be secured as you are insured’ is implemented by MINAGRI in collaboration with partners including Radiant Insurance company, Access to Finance Rwanda, Prime Insurance Company and Sonarwa.
Under the subsidized agriculture insurance scheme, a farmer will provide 60% of insurance fees while the Government caters for 40% of farmers payments. The livestock value is determined by the farmer.
As she launched the insurance, Minister Mukeshimana said: “The insurance is specially designed to help farmers become climate change resilient. As you know we have been facing poor climate leading to the loss of agricultural yields. The purpose is to enable farmers to resist those problems.”
She explained that it will help to boost farming yields.
Minister Mukeshimana urged subscribers of the insurance to take advantage of it requesting loans from financial institutions.
“For instance, the bank cannot have worries of giving Rwf 100,000 or Rwf 150,000 for someone with a cow worth Rwf 300,000,” she said. The pilot phase of livestock insurance has started in Nyanza, Gicumbi, Musanze, Ruhangho, Nyagatare, and Burera districts while crop insurance will be implemented effective from Agriculture season 2020A st6arting with Gasabo, Nyagatare, Bugesera, Gisagara, Kirehe, Gicumbi, Huye, Rulindo Ngoma, and Rwamagana districts.
Livestock insurance went into effect soon as it was launched. An insurance company will compensate cows dying from accidents, diseases or outbreaks.
The cost of insurance equals 4.5% of the total value of the cow.
The insurance concerns jersey and half jersey cows from 90 days after birth until 8 years excluding bulls.
Each insured cow has to be digitally registered.
The mayor of Nyanza district, Erasme Ntazinda said that the district counts over 54000 cows of which more than 23,000 are expected to get the insurance.
Gaudance Kanamugire, the chairperson of Rwanda Association of Assurers (ASSAR) unveiled that they will keep closer collaboration with the Government to extend agriculture insurance to all districts.
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