Connect with us

Hi, what are you looking for?

Business

Government Urged To Insure ‘planting For Food and Jobs’ Project

he planting for food and jobs program is an initiative by the Ministry of food and Agriculture.

The Ghana Agriculture Insurers Pool is urging government to insure its planting for food and jobs initiative to sustain the program. The planting for food and jobs program is an initiative by the Ministry of food and Agriculture.

In the 2017 budget, the government earmarked GH?560 million for the initiative which is expected to create over 70, 000 jobs.

However, the General Manager of the Ghana Agriculture Insurance Pool GAIP, Ali Mohammed Kato, believes the project needs insurance to ensure sustainability.

He said “One side that government has to look at is agriculture insurance, because in Ghana we are under rain fed agriculture so if the farmer is given the seeds and the subsidized fertilizer and the crop fails what do you do? Pest attacks like the fall armyworm infestation too is devastating.

So if we have all this money invested in the project and there is no investment in insurance that means the government will have to come back the following year and go for more money to start again. Whereas if there is insurance at least some parts of this investment could be salvaged though compensation from the insurance company.”

The Ghana Agricultural Insurance Pool (GAIP) is made up of 17 insurance companies and operates under the Ghana Insurers association. The pool provides agricultural insurance for farmers and financiers of agriculture in Ghana. The General Manger of the pool also added agric insurance is key to ensure food security.

According to GAIP, claims on drought formed a huge chunk of their claims portfolio mounting up to GH?159,000 for the year 2015 alone.

He therefore advocated that more efforts should also be directed to promoting irrigation in farming.

Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

Trending Stories

News

Northern Regional Minister Salifu Sa-eed has banned prostitution in Tamale with immediate effect. This comes after a Guinean national who tested positive for the...

News

Jacques Joaquim Yhombi-Opango, former president of the Republic of the Congo, has died after contracting coronavirus, his family said. Yhombi-Opango died in a Paris...

News

The Northern Regional Minister, Salifu Saeed, has confirmed that a coronavirus patient who was under quarantine in his region has fled the facility, leaving...

News

Sixteen persons have been arrested in Kasoa in the Central Region for failing to give tangible reasons why they were in town during the...

News

A video of a young man paying dearly for refusing to adhere to the directives of the president to remain indoors has emerged barely...

News

President Nana Akufo-Addo has earned massive praise from some prominent people around the world over list latest statement on the Coronavirus disease (COVID-19). President...

News

There are now more than 3,200 confirmed cases of coronavirus across the continent, with a number of African countries imposing a range of prevention...

News

The President for Institute of Liberty and Policy Innovation (ILAPI), Mr Peter Bismark, has stated that Ghana requires GH₡15 billion for 28 days’ total...

News

The ghana government has empowered the security forces to enforce the partial lockdown of certain parts of the country in order to contain the...

Africa & World

In fact, Venezuela has done a lot of good deeds for a lot of countries, but mostly for the poor countries in the Caribbean...

Africa & World

Soaring food prices aren’t new in Haiti, the poorest country in the Western Hemisphere and heavily dependent on imports. Sadly in 2020, those prices...

News

The Bank of Ghana in its efforts to ensure the effectiveness of the lockdown directive given by President Akufo-Addo, is urging all banks and...

Copyright © 2020 GhanaStar Media Group. All rights reserved