Created in 2012 as a specialized agency of the African Union, the African Risk Capacity group enables African countries to strengthen their disaster management systems and access rapid financing, in order to protect food security and the livelihood of their populations. Zambia, which chairs the pan-African agency for the period 2022/2023, reiterated her commitment to support the actions of the institution, during the 12th African Risk Capacity Conference of Parties held in South Africa early April 2022.
Zambia, currently at the head of the African Risk Capacity (ARC), a specialized agency of the African Union, is committed to improving her relations with the pan-African institution. Established in 2012 and in line with Agenda 2063, ARC was set up to help African governments improve their capacities to better plan, prepare and respond to climate impacts and natural disasters. Zambia’s ambition for the African Risk Capacity group was revealed on the sidelines of the institution’s 12th Conference of Parties held virtually early April 2022.
Today, I am proud to know that the African Risk Capacity group board is now fully operational and has already met twice to discuss pertinent issues concerning the organisation and has equally taken important decisions for the institution to move forward. For this reason, allow me to express my sincere appreciation to the works done so far by the African Risk Capacity group board. Nonetheless, it is high time for us to reflect on long-term financial sustainable solutions for our institution.Situmbeko Musokotwane, Minister of Finance and National Planning of Zambia
Zambia is one of the 35 Member States that make up ARC. In 2020, a total of twelve African countries benefited from ARC insurance coverage. These countries include Burkina Faso, Côte d’Ivoire, Gambia, Madagascar, Malawi, Mali, Mauritania, Mozambique, Niger, Zambia, Zimbabwe and Togo.
I want to use this opportunity to thank our partners who believed on day one, in the concept of ARC and provided support and advice since we started ARC in 2012. If we are where we are today, it is greatly thanks to them. They provide the support both in terms of financing and counselling. We are renewing our commitment as an organization, in expediting our policy development, so that what we put out there in the market for our member states will continue to be relevant because we are mindful that disaster does not mean the same thing to all of our member states.Ibrahima Cheikh Diong, Director General of the African Risk Capacity group
In Zambia, nearly 2 million people were insured by ARC in 2020. The country’s first participation in drought insurance risk pooling was in 2020 and included a government contribution of 0.2 million dollars. At the 12th ARC Conference of Parties which Zambia chaired for the first time early April 2022, the country reaffirmed her commitment to support the actions of the pan-African agency.
It is important for us to take our continental organization very seriously because its benefits are real. I therefore encourage ARC to accelerate the diversification of its products to address the weather-related problems and natural disasters that we are facing. I also call on other Member States to ratify the ARC Treaty to enable the organization to grow and better support African countries. I would like to assure you that the Government of the Republic of Zambia will do all it can to discharge its responsibilities as required.Situmbeko Musokotwane, Minister of Finance and National Planning of Zambia
Zambia is now endowed with new responsibilities within the ARC group, as she will chair the institution for the period 2022/2023. Zambia paid a premium of 250,000 dollars for drought insurance policy and the country is set to receive a payout of over 3 million dollars, which will help ensure her climate resilience. It should be noted that the African Risk Capacity has so far covered more than 85 billion people on the African continent.