Ivory Coast drought triggers latest African Risk Capacity payout

By Henry Gale

March 6 - (The Insurer) - A drought in Ivory Coast has triggered a payment of nearly $1 million from African Risk Capacity, following a similar recent payout to Ghana.

The $863,560 parametric insurance claim will be used for direct cash transfers to 8,290 households, representing 41,450 people in the country, for purchasing food and essentials.

The payout was triggered by drought conditions during the 2024/25 farming season which caused poor harvests in West Africa.

Neighbouring country Ghana recently received a $960,202 payout on its ARC drought policy, in relation to a drought that occurred between August and November last year. In Ghana's case, the funds were designated for emergency food assistance for 40,000 people.

"These pre-arranged and timely disbursements allow governments to act proactively, ensuring that aid reaches vulnerable populations without waiting for emergency appeals," ARC said in a LinkedIn post.