Africa Climate Risk Insurance Facility for Adaptation (ACRIFA ) What's in it for Africa?
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Africa Climate Risk Insurance Facility for Adaptation (ACRIFA ) What's in it for Africa?
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Awake Africa take a critical look at ACRIFA: The Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) aims to improve climate resilience in Africa's agricultural sector by increasing access to climate insurance. ACRIFA will achieve this by mobilizing $1 billion in funding to support the development and scaling of innovative insurance products, strengthening the African insurance industry, and fostering collaboration among stakeholders. The initiative focuses on a three-tiered intervention strategy (macro, meso, and micro levels) and employs a regional risk-sharing model to reduce the cost of insurance and enhance market capacity. Ultimately, ACRIFA seeks to de-risk investments in climate-smart agriculture, increase access to finance for farmers, and build the adaptive capacity of the agri-food system.