National Development Bank’s Crop & Livestock Insurance

Article: Burton Keakile

We all know that Agriculture is an investment, and a risky one considering that at times farmers lose most of their produce. National Development Bank has come up with a solution to help farmers with the risk.

Ms. Chodiwa Mosweu, who is the Agency and Advisory Service Manager recently sat down for an interview with Botswana Farmer’s Magazine to shed a bit of light into an insurance policy focusing on crops and livestock.

“Insurance is a risk transfer mechanism that ensures that the client (policyholder) is indemnified/compensated in terms of financial loss against a specified event in the future”, she said maintaining that this is a way for the client pays the insurer an agreed premium in exchange for protection.

There are different Agricultural products on offer, and they all have their own specific underwriting requirements. So, before one applies for an insurance policy one needs to schedule an appointment with their Agent/Financial Advisor to do a full and proper needs analysis and then advise on coverage. In terms of crop insurance an appointed Agronomist needs to survey the farm well ahead of the cropping season and also be privy to the cropping plan to be able to accept cover.

A wide range of Agricultural insurance products are available such as Crop Insurance which protect farmers against loss resulting from perils such as hail, windstorm, fire and Lighting. Feedlots insurance covers the insured Livestock from death caused by fire, lightning, accident and illness. Herd select which covers the entire herd, cattle, sheep and goats against all risks mortality (death occurring from disease or sickness and accident) theft and transit.

Furthermore Mosweu indicated that their services are available to the general public and all sectors. “We however have special focus on serving the farmers, tourism industry as a way to complement the Agency’s parent company NDB’s mandate of being the go to agricultural Bank of Botswana.

When  asked how they ensure that farmers know about the agricultural insurance, Mosweu  said that when the agency was launched launched in March 2022 they made sure that Chairpersons across all sectors were present, such as for Small stock, Poultry and representatives from Pandamatenga, Thuli Block and Mosisedi. She even said that currently they are conducting nationwide roadshows to engage Farmers and other clientele about the value offering. This is addition to the normal media engagements/advertisements we have done. FMB