Yaoundé - 02 April 2020 -

Activa and Axa pay first compensations in the framework of the index-based agricultural insurance

Activa and Axa pay first compensations in the framework of the index-based agricultural insurance
  • Comments   -   Thursday, 13 February 2020 15:57

(Business in Cameroon) - Last February 4, in Garoua, insurance companies Activa and Axa proceeded to the payment of more than XAF23 million to cotton producers as compensation for their damaged farms.

These are the first compensations in the framework of the index-based agricultural insurance, officially launched in the country in August 2019, with the financial assistance of the IFC, a subsidiary of the World Bank Group. The partners selected for this project are the companies Axa and Activa.

According to experts, this type of insurance uses objective and transparent parameters such as failure of seedlings or the level of rainfall to assess losses and does not require costly field visits. This insurance currently allows the Confederation of Cotton Producers of Cameroon to cover 7,739 producers during the 2019-2020 season.

The IFC and its partners plan to issue more than 135,000 index-based agricultural insurance contracts by the end of 2020. These contracts will help nearly 700,000 farming households cover their farms, have access to inputs and compensate for yield losses in the event of a disaster.


Today April 1st, Cameroon launched a campaign for its XAF220 billion fundraising operation via bond issuance. On various media, the Ministry of Finance,...
At the end of the 3rd extraordinary meeting of the steering committee of the CEMAC Economic and Financial Reforms Programme (Pref-Cemac), CEMAC Ministers...
Substantially increase financial inclusion from the current 40% to 98%, which is the mobile penetration rate in Cameroon. This is one of the objectives of...
The Ministers of Finance and Economy of the CEMAC region discussed the "economic and financial impacts of Covid-19 on CEMAC's economies and outline of...

Mags frontpage

Business in Cameroon n85: March 2020

Minim Martap«It might be the best bauxite ever at the moment»

The necessary reform of Cameroonian public firms

Investir au Cameroun n95 Mars 2020

Minim Martap« Peut-être la meilleure bauxite au monde à ce jour »

La nécessaire réforme des entreprises publiques camerounaises