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Farmers Urged To Embrace Agricultural Insurance

by Harvest Money Editor
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The Minister for Local Government, Raphael Magyezi, has said agricultural insurance is key to farmers if they are to get the most out of their ventures.

While addressing the media during his two-day visit to Adjumani, Magyezi said it was their responsibility to ensure sustainability in cases where the weather is bad, produce is stolen or transport means such as tricycles or the truck are stolen or get damaged.

According to the Ministry of Finance, Planning, and Economic Development, the Government established the Uganda Agriculture Insurance Scheme (UAIS) in the 2016/17 financial year as a pilot, whose objective is to cushion farmers from risks associated with losses arising from natural disasters and also attract financing to agriculture.

Agriculture insurance encourages commercial banks to lend to the agriculture sector given that the risk associated with agriculture is mitigated through appropriate insurance cover, which thus improves access to agriculture loans.

The scheme provides insurance cover for crops and livestock, for both small and large-scale farmers.

Under the scheme, the Government provides premium subsidy funds, and in collaboration with industry players also undertakes publicity, sensitisation and training of farmers.

Magyezi said as the Government has the responsibility to set up infrastructure such as roads on which the produce has to be transported, and economic services such as markets where goods are going to be sold from.

“As the local government, we have to invest in the construction and maintenance of the local markets because the farmers will need to use these roads all the time,” Magyezi said.

He also used the same opportunity to thank Action Against Hunger that donated milling machines, tricycles and solar-powered irrigation systems to farmers.

Albert Siminyu, the country director for Action Against Hunger, said they are looking forward to ending hunger in Uganda.

He revealed that his organisation donated milling machines, tricycles, solar-powered irrigation systems and nutritious seed crops because they wanted to make a better Uganda for both the locals and refugees.

He appealed to the refugees and host communities within Adjumani to also insure their agricultural machinery, crops and animals for sustainability.

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