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ICENECDEC CORPERATE GROUP
providing Health and Agricultural Insurance for Farmers
ICENECDEC CORPERATE GROUP
providing Health and Agricultural Insurance for Farmers
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ICENECDEV Corporate Group works with Insurance Companies in Cameroon to grow the reach and scale of Cameroon ’s agricultural insurance scheme.

ICENECDEV Corporate Groups  is agricultural company providing advisory  agricultural services and access of loan to smallholder farmers in Cameroon and in the Central Africa /CEMAC Region . The goal is for  Partners/ governments provides 40 per cent subsidy of premiums. ICENECDEV Gorporate Group has a vision to be one of the  leading insurer scheme and to covers 60 per cent of the members. The pilot will  focus on expanding the scheme to cover more farmers and livestock.

Background Information

Economic losses due to extreme weather, climate and water events have increased sevenfold from the 1970s to the 2010s.1 Scientists predict that these events, driven by climate change, will only become more common in the years to come— driving significant losses across many sectors of the economy. With economic damages from extreme weather estimated
at more than USD 2 trillion2 over the last decade, risk management tools are more necessary than ever. Low- and middle-income countries are more vulnerable to the impacts of climate change, particularly since a large proportion of their populations depend on climate-vulnerable sectors—such as agriculture and fisheries—for their livelihoods. Agricultural insurance can be a powerful tool to reduce that vulnerability and help smallholder households
adapt to climate change. Recent evidence suggests that even a 1% increase in insurance penetration reduces the disaster recovery burden on developing countries by 22%.3. However, the challenges of developing and delivering agri-insurance to smallholder farmers remain significant. Farmer understanding of insurance is typically low, products can be complex and costly to deliver, and regulatory frameworks
to facilitate the insurance market are often lacking. Multi-sector collaboration, including an active government role, is needed to close the persistent insurance protection gap in these countries
 . Agricultural production and food security have made impressive progress in global South and including Africa  over recent decades. The improvements have played a key role in fueling economic growth. However, climate change and related erratic weather events threaten farmers’ livelihoods, as do pests and diseases.  Poor harvests can prevent farmers from repaying their loans. They are then naturally unwilling to access credit or use modern inputs in the next season. Yields and income, therefore, typically fall again. 

In OECD countries, most farmers benefit from crop insurance or the equivalent in price supports and guarantees. By contrast, farmers in middle- and low-income countries, do not have access to such risk mitigation services. Most of these farmers are smallholders.

Agricultural insurance is a valuable financial instrument for smallholder farmers. It increases their resilience by avoiding or limiting potentially devastating financial losses. This prevents them from falling into poverty. Insurance also eases access to finance and increases smallholders’ productivity.

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Our Vision

  • Grow the reach and scale and establish national agricultural insurance schemes
  • Improve the resilience of value chain actors in the agriculture production of selected crops and livestock
  • Build an insurance culture among smallholder farmers for poverty alleviation
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Activities/Services

  • Product development for insurance to cater to additional livestock and crop value chains, such as beans, soybeans, cassava, coffee, tea, and aquaculture
  • Capacity building of staff and field officers for designing and distributing crop and livestock insurance
  • Education campaigns to build awareness of agricultural insurance-based amongst consumers and other stakeholders in the agricultural sector
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Insurance improves loans access for smallholders
In order to achieve the desired impact, the Syngenta Foundation’s AIS team works with multiple stakeholders. Our market development goes through the following phases:
ICENECDEV Released a publication 60 pages on the Socio Economic Impact of Anglophone Crisis on Small and medium Businesses and Startups with Support of our Expert from the Mannheim university Germany and Maynooth University School of Business Ireland, UK.