Low uptake hampers African Risk Capacity's insurance program
Posted On: Feb. 18, 2019 5:15 AM CSTMohammed Beavogui, director-general of South Africa-based African Risk Capacity Ltd., said that only eight of the 34 founding countries signed up for its disaster insurance program, The East African reported. Mr. Beavogui said that none of the countries in East Africa have signed up for the program, potentially hampering payouts to cover catastrophes. The African Risk Capacity paid $25 million to cover drought-related losses in Niger, Mauritania and Senegal in 2017, he added.