The discussions focused on how innovative insurance solutions can enhance farmers’ resilience to risks such as climate change, market volatility, and pest infestations.
Participants received detailed presentations on agricultural insurance at global, continental, and regional levels, as well as sessions on value-chain agriculture and opportunities for insurance practitioners.
Other topics included good agricultural practices for crop risk management, field underwriting, livestock and poultry insurance, and the development of emerging products such as parametric and livestock index insurance.
In his opening statement, Abdoulie Jallow, Chief Executive Officer of PCAM Brokers Company Limited, described agriculture as the backbone of African economies, providing livelihoods for millions. He noted that farmers continue to face mounting challenges due to climate change, erratic rainfall, droughts, and fluctuating market prices, which threaten food security.
“To address these risks, innovative mechanisms like agricultural insurance are essential,” he said. “This forum seeks to foster collaboration, promote knowledge sharing, and develop strategies that enhance the adoption of insurance products tailored to the realities of Gambian farmers.”
Mr Jallow emphasised that agricultural insurance can protect farmers against climate-related shocks and serve as a financial safety net, enabling them to plan better and invest in improved farming methods.
He added that insurance coverage can also make it easier for farmers to access credit, as financial institutions are more willing to lend when risk mitigation measures are in place.
Yombo Bammeke, Managing Director of United Africa Insurance Brokers Limited, echoed that insurance gives farmers the confidence to invest their resources, knowing they have protection against unforeseen losses.
Saikou Kassama, Deputy Director of Insurance Supervision at the Central Bank of The Gambia, reaffirmed the Bank’s commitment to promoting financial inclusion and sustainable development.
He highlighted that the Central Bank views insurance not only as a financial tool but also as a mechanism for social and economic empowerment.
“Through innovative products such as index-based and weather-linked insurance, we can bridge the gap between finance and resilience to ensure that no farmer is left vulnerable,” he said.
Other speakers included Mamour Alieu Jagne, Project Director of the ROOTS Project under the Ministry of Agriculture, who commended the organisers for facilitating dialogue on how insurance can be leveraged to support smallholder farmers and improve agricultural productivity.
The forum ended on Wednesday, 29 October, with participants expected to develop actionable recommendations to advance agricultural insurance and strengthen resilience in the sector.
