Date: 6th June 2023
Johannesburg, South Africa

African Risk Capacity launches the first Flood Risk Insurance Product in Africa.

On 27 April 2023, the ARC Group was honoured to receive the Closing the Gap award at the Trading Risk Awards 2023, a recognition of the organisation’s recently launched Outbreaks and Epidemics insurance product’s innovativeness and uniqueness. Specifically, this award celebrates reinsurance or ILS transactions that insure risk that was previously uninsured or not highly insured and highlighted this transaction as one that will ensure the risk will be well covered

De gauche à droite: M. Ramilison Janset, Ministre de l'Agriculture et de l'Elevage; S.E.M. David Ashley, Ambassadeur du Royaume-Uni à Madagascar; Mme Gloria Womitso, Actuaire en charge de la souscription chez ARC Ltd; M. Ada Amoumoun, Directeur Pays de la BAD ; Ibrahima Cheikh Diong, Sous-Secrétaire général des Nations unies et Directeur général du Groupe ARC; M.

From left to right: M. Ramilison  Janset, Minister of Agriculture and Livestock; H.E. Mr. David Ashley, UK Ambassador to Madagascar; Ms. Gloria Womitso, Actuary & Senior Technical Underwriting Analyst at ARC Ltd; Mr.

Recently, the Government of the Republic of Madagascar qualified for a much-needed insurance payout of USD 1.2 million to support the island nation’s recovery efforts from Tropical Cyclone Freddy and help the government reach its most affected populations. This follows its participation in the African Risk Capacity (ARC) Group mechanism. The Group, which has been working with Madagascar since 2017 to manage its climate risks, has the mandate to work with African Union Member States to better plan, prepare, and respond to extreme weather events.

The Government of the Republic of The Gambia recently received an insurance payout of USD 187 641 following its participation in the African Risk Capacity (ARC) Group mechanism, designed to help African Union (AU) member states plan, prepare and to better respond to extreme weather events.

On the margins of the 13th Session of the ARC Conference of the Parties COP 13, the ARC Group hosted a panel discussion under the theme, “ARC @10: Lessons learned and perspectives” following its recent 10-year anniversary celebrations in November 2022. Given the escalating climate crisis and its impact on the continent, it was fitting that ARC and its stakeholders review its first decade of existence, take stock of the role the organisation has played in the Disaster Risk Financing landscape in Africa, and review the lessons learned over the decade.

The ARC Group has just concluded its 13th session of the Conference of the Parties (CoP 13) held at the African Union (AU) Headquarters in Addis Ababa, Ethiopia on 3 and 4 April 2023. The COP is the supreme decision-making organ of the ARC Group, and has the responsibility to provide the final approvals on critical matters after Board reviews and endorsements. CoP 13 was organised jointly by the ARC Secretariat and the Department of Agriculture, Rural Development, Blue Economy and Sustainable Environment of the African Union Commission.

Start Network is pleased to announce US$4.2 million of new funding to help protect people in Somalia from ever-worsening drought. The pay out is a result of a collaboration between the Federal Government of Somalia, African Risk Capacity and the UK Government.

FAO has joined efforts with the African Risk Capacity (ARC) Group to integrate gender dimensions in climate action and disaster risk management and reduction in Sub-Saharan Africa.

The MoU signed consolidates the ongoing partnership between FAO and ARC, which has already demonstrated solid results in awareness-raising and data-generating efforts. The outlined areas of cooperation for the five-year agreement include advocacy and awareness-building, gender mainstreaming, technical mutual support, and resource mobilization.