WHAT DINA THINKS: Bridging Climate Gaps through ACRIFA and COP28 in Dubai

Hey there again my fellow expats! Dina here, sharing some international news that emerged during COP28 in UAE, the heart of where I currently call home. Let’s dive into the buzz surrounding the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) and how it’s set to change the game for African farmers battling climate change.

If you didn’t know, COP28 in Dubai was a bustling hub of conversations around climate action. Amidst all the discussions, the African Development Bank Group unveiled ACRIFA – a $1 billion initiative aiming to provide insurance coverage for over 40 million farmers across Africa. It was a hot topic, gathering praises from various quarters, including the World Food Programme and insurance giants, for its potential impact on fortifying the agricultural sector.Imagine this – 97% of African farmers don’t have agricultural insurance. That’s a staggering number! ACRIFA steps in as a lifeline, offering protection against erratic weather patterns, which can make or break a farmer’s livelihood. Dr. Akinwumi Adesina, President of the African Development Bank, highlighted how this facility isn’t just about insurance but also about stimulating private sector investments in agriculture by reducing risks.

This isn’t a solo journey. ACRIFA’s journey started in Nairobi during the Africa Climate Summit, where governments, development agencies, insurers, and the private sector came together. Partnerships, like the one with the World Food Programme, are crucial for making sure these services reach the farmers who need them the most.At the sidelines of COP28, leaders like Ibrahima Diong and Bogolo Kenewendo emphasized ACRIFA’s potential in boosting Africa’s resilience in the face of climate change. The discussions shed light on how quality insurance solutions can bolster food security and create opportunities in the global insurance sector.There are challenges ahead, and Hope Murera from Zep-Re Academy talked about the struggle with data accuracy. Overcoming these hurdles is key to ensuring that initiatives like ACRIFA are implemented effectively.In a nutshell, ACRIFA holds immense promise in transforming the lives of millions of African farmers. It’s not just about insurance; it’s about resilience and hope in the face of climate uncertainties. And here’s hoping that collaborations, discussions, and initiatives like these at COP28 will pave the way for a more sustainable future for us all.As an expat in the UAE, witnessing the unveiling of ACRIFA during COP28 in Dubai filled me with hope and admiration. Seeing global leaders, organizations, and experts coming together to address such pressing issues reaffirms my belief in collective action and innovation. ACRIFA isn’t just an insurance facility; it’s a beacon of resilience and solidarity, showing that when we combine our efforts, we can create impactful solutions to safeguard vulnerable communities against the challenges of climate change. It’s heartening to witness initiatives like ACRIFA shaping a more secure future for farmers in Africa and beyond.