The FT’s Award for Technology in Sustainable Finance recognizes organizations and initiatives that are addressing the scarcity of essential goods and services across society and those that demonstrate leadership and innovation in addressing environmental, social and corporate governance considerations in business.
Kilimo Salama (Kiswahili for ‘safe farming’) is an innovative, pay-as-you-plant, index-based, micro-insurance program for smallholder farmers in Kenya and the first in the world to use a mobile network-based platform and on-the-ground solar weather stations to provide smallholder farmers with low-cost insurance policies.“When it comes to drought, most farmers have no choice but to simply pray for rain. And if the rains don't come, the crops don't grow. At a time of global change, Kilimo Salama is giving farmers more options so they can meet these challenges and prosper,” said Marco Ferroni, Executive Director of the Syngenta Foundation for Sustainable Agriculture.
Kilimo Salama has seen an eventful second year marked by severe weather and explosive farmer demand for insurance to mitigate current and future weather risk. Kilimo Salama has just completed one of the largest index insurance payouts ever experienced on the continent has insured nearly 64,000 farmers for the next season.
They are currently making plans to expand to other countries in the region beginning with Rwanda.
Related:Preliminary List of Innovative Financing Mechanisms (IFMs) for Agriculture, Food and nutrition