Africa, Featured
By Maureen Chigbo, recently back from Cote d’ Ivoire
THE African Risk Capacity, ARC, a specialized organ of the African Union, has ended its two-day regional consultations workshop on disaster risk financing on a fruitful note. Both participants from 13 countries in Africa and the organizers agreed that the consultations workshop was a worthwhile initiative.
Group Picture of Participants at the ARC Workshop
The countries are Burkina Faso, Mali, Mauritania, Senegal, Niger, The Gambia, Chad Benin, Guinea, Togo, Cote d’ Ivoire, Ghana and Nigeria. Nigeria was represented at the consultations workshop by two officials of the federal government – Mariam Lawal of the International Department of the Federal Ministry of Finance and Omobumhe Oghenah, deputy director, the National Emergency Management Agency, NEMA. Both were unanimous is commending the workshop as it provided them the opportunity to learn more about the activities of the ARC and how the country can benefit from its products in curbing disaster risk. Omobumhe seized the opportunity to clarify issues regarding the hosting of the ARC office in Nigeria. He said the most important thing when they return to the country is to work on getting a coordinator for the ARC initiatives in Nigeria.
Nigeria is among the countries that have signed the memorandum of understanding, MOU, with ARC. Out of the 13 countries, nine are members of the insurance pool in 2019.
The workshop, which held in Abidjan, Cote d’Ivoire, last week, from September 17 – 18, provided avenue for countries which have recently entered into a memorandum of understanding with the ARC to gain more knowledge of what the functions of the ARC are and how they can use its products, especially the new ones which will be launched in 2020 to contain climate induced disasters and epidemic diseases.
According to Assia Sidibe, head of Government Services, West and Central Africa, Africa Risk Capacity, the just ended consultations were very fruitful. “Thanks to the feedback of the member states we will be able to align our work programme to their needs.
“We needed to get the member states feedback on some specific topics, such as the type of products we should develop, their assessment of the region’s readiness for disaster risk financing instruments, our programme cycle. We got clear direction and know how to proceed.
“The workshop discussed the flood product, pastoral index, outbreaks and epidemics products. These are product on the verge of being launched. We needed to go into the specifics with the member states. Thanks to their recommendations, we can ensure the products are really adapted to the needs of their countries,” Sidibe said.
During the workshop, the issue of payouts also came up and Sidibe explained that payouts are sent to governments after they have submitted a peer approved final implementation plan. Two countries have guaranteed payouts though the season is not over yet, Cote d Ivoire ($738 000 guaranteed) and Senegal ($22 million guaranteed, including $10 million for Start network, their replica partner)
According to her, “There is also reporting mechanisms at the annual council of ministers of ARC, and several process and financial audits. Ultimately, ARC is a mutually own mechanism and countries peer review each other in the implementation of a response following a payout.
“ARC’s programme cycle defines the activities in the capacity building. It applies to all members interested in getting capacity support in terms of planning, preparing and responding to disasters. Thé new products will be open to new and more mature member states,” Sidibe said.
Realnews reports that the African Risk Capacity is a specialized agency of the African Union designed to help member States improve their capacities to better plan, prepare and respond to extreme weather events and natural disasters, therefore protecting the food security of their vulnerable populations.
By linking early warning systems with contingency planning and supported by modern financial mechanisms, ARC enables governments to provide targeted responses to disasters in more timely, cost-effective, objective and transparent manner, thereby reducing response costs and loss of livelihoods.
The ARC Agency works to achieve this objective together with the ARC Insurance Company Limited, the financial affiliate of the ARC Agency, which pools risk across the continent through issuing insurance policies to participating member countries.
ARC Ltd has been offering drought risk insurance to member States since 2014. ARC currently offers a drought product, but has a number of products in final stage of research and development, namely, a flood product, a tropical cyclone product, and an outbreak and epidemics product.
Africa RiskView, ARC’s proprietary weather modelling software, is the technical engine behind ARC and the tool provided to ARC member States to help them manage their weather risk and identify the appropriate amount of risk to transfer to the ARC risk pool. Africa RiskView also serves as an early warning tool, allowing users to monitor the agricultural season in near real time. West African countries have continued to show their commitment towards the ARC Agency and ARC Ltd, with new countries joining the Agency’s programme.
-Sep 27, 2019 @13:44 GMT |
Tags: ARC Second Regional Consultations on Disaster Risk Financing Fruitful – Sidibe
