Ebere Nwoji
Insurance experts have highlighted affordability and trust deficit as two key barriers to insurance adoption among smallholder farmers.
The experts identified these at the 9th edition of Agriculture Summit Africa (ASA) 2026.
Speaking during a panel session titled, “Climate Risk Management for Sustainability: Future-Proofing Africa’s Food System,” Global Head, Agricultural Risk Solutions, Leadway Assurance, Ayoola Fatona noted that against this backdrop, Leadway often sought to address these challenges by building partnerships with organisations that share its commitment to advancing the livelihoods of smallholder farmers and strengthening their resilience to climate-related risks.
He said through these collaborations, the underwriting firm has been able to mobilise funding to pre-finance insurance premiums, ensuring that farmers have the protection they needed in place from the onset of the planting season, when their risk exposure was at its highest.”
The summit convened by Sterling Bank, focused on improving food production, financing, processing, technology, trade, and policies to help Africa build stronger value chains, create jobs, strengthen intra-African trade, and become a stronger global food power.
Leadway said these objectives align with its commitment to strengthening the agricultural sector by providing risk protection for farmers, agribusinesses, and investments across the agricultural value chain.
Fatona, said in 2025 wet season alone, Leadway partnerships enabled it to mobilise over $1.2 million to provide insurance coverage for more than 400,000 farmers.
He said the underwriting firm would continue to build on that progress.