On August 16, 2019, livestock farmers from all sectors of Gatsibo District gathered in Rwimbogo sector to officially launch the national livestock insurance scheme in the district. The new scheme will mitigate risks and losses incurred by farmers due to unpredictable natural disasters, pests and diseases that affect their livestock.
Dubbed “Tekana Urishingiwe Muhinzi Mworozi,” the scheme which is subsidized up to 40% by the Government of Rwanda, will also enable the farmers to easily access financial services and ensure flow of credit to the agriculture sector. The market premium rate is 4.5% for livestock insurance.
Speaking at the event, the livestock farmers commended the government for introducing this subsidized insurance scheme.
Emmanuel Munyaburanga, one of the livestock farmers in Gatsibo District, has already insured 23 of his cows and intends to insure all of his 50 cows. He said that the scheme is enabling them to modernize their farming activities.
“This insurance scheme gives us hope for the sustainability of farming business and mitigation for unnecessary losses,” Munyaburanga said. “Last year, I lost four cows due to unknown disease, but I’m now assured of compensation in case of such death cases since my cows have been insured.”
The 58-year old farmer added that he can also get easily a loan from a bank using his insured cows as collateral since they are insured.
Munyaburanga shares the same excitement with his colleagues from Gatsibo District who have got a sigh of relief thanks to the new farming insurance scheme.
This insurance is being implemented through a multi-agency framework composed of selected insurance companies under the overall guidance and control of the government. In the initial phase, SONARWA, PRIME and Radiant are the three insurance companies to implement the National Agriculture Insurance Scheme.
The development of the scheme has been supported by development partners through Access to Finance Rwanda (AFR)