Zambian farmers to benefit from Pula insurance solutions

ZAMBIA is set to benefit from US$6 million injected by Pula an African InsureTech service to de-risk smallholder farmers from climate change.

Chief executive officer Rose Goslinga said the investment would be used to scale up operations in the company’s existing 13 markets across Africa.

She said "Currently, Pula has impacted over 4.3 million farmers on the African continent and the new funding would also help to propel its expansion into Asia to power resilience and profitability for Asian small-holder farmers.

“Our goal is to build and deliver scalable insurance solutions for Africa’s 700 million small-holder farmers and with our latest funding, now is the time to break into new ground.

“In our five years since launching, we have built strong traction for our products but the fact remains that across Africa and other emerging markets, there are still millions of small-holder farmers with risks to their livelihoods that have not been covered,” Goslinga said.

Meanwhile, Maurizio Caio, who is the managing partner and founder at TLcom Capital, said: “in Pula, we found a company addressing a hugely underserved market in one of Africa’s key drivers of growth.”

“This is an opportunity for major economic upside. The potential for the insurance market for small-holder farmers in Africa is huge. Pula has rapidly established a strong presence throughout the continent and has a number of high-profile clients on their books,” Mr Caio said.

Pula’s key clientele include the World Food Programme, Central Bank of Nigeria, Zambian government and the Kenyan government.