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TRANSAXIS Reinsurance, in partnership with Greyhorse Clearinghouse Ltd (UK), has announced a US$1 million funding initiative to support small-scale farmers across the SADC region. The Cash Allocation and Subsidies to Help Farmers (CASH) programme is aimed at addressing climate risks, improving farmer productivity, and promoting financial protection for farmers facing increasing environmental and economic pressures.
The funding comes from subsidiaries of Greyhorse Financial Corporation (USA), including Greyhorse Philanthropic Fund LLC and Greyhorse Captive + Reinsurance Fund LLC. These entities are part of a blockchain-based decentralised clearinghouse system designed to ensure secure custodial settlement services.
The initiative seeks to equip farmers with the tools and knowledge they need to mitigate risks and enhance resilience. A core focus is on introducing affordable parametric insurance products tailored to small-scale farmers, such as weather index, yield index, and hybrid insurance models. In addition to insurance solutions, the CASH programme offers a wide range of benefits, including micro-lending, subsidised insurance, equipment loans, retirement packages, and incentives tied to Africa’s climate fund.
Speaking about the programme, TransAxis Reinsurance CEO Isaac Gunda said:
“We have raised US$1 million to support small-scale farmers in the SADC region with the aim to educate and raise awareness about the importance of insurance and financial protection in this era of climate shocks.”
“We are prepared to support the small-scale farmers to ensure poverty alleviation and protection from climate shocks.”
This ambitious programme highlights the essential role small-scale farmers play in regional food security. By addressing risks such as extreme weather, market fluctuations, and health challenges, the initiative aims to safeguard livelihoods and bolster agricultural productivity.
The programme targets the registration of 62,500 farmers by the end of 2024. Collaboration is underway with key stakeholders, including insurers, brokers, agents, and farmer organisations, to achieve this goal. The partnership also focuses on providing disaster relief through financial assistance, protecting farmer assets, and supporting sustainable agricultural practices.
Greyhorse Clearinghouse Ltd’s advanced blockchain technology adds a layer of security and transparency to fund management, ensuring that resources reach intended beneficiaries efficiently.
A TransAxis spokesperson highlighted the broader impact of the initiative, stating: “Small-scale farmers are the backbone of the food system, and we must equip them to mitigate risks. This programme addresses challenges such as climate shocks and market risks, providing vital support to vulnerable farming communities.”
Farmers interested in the CASH programme can access more information through TransAxis by contacting WhatsApp at +263 773 325 999 or emailing [email protected].
As TransAxis continues to expand its presence in global reinsurance markets, this initiative underscores its commitment to driving sustainable development and empowering communities through innovative risk management solutions. The collaboration with Greyhorse is expected to create lasting impacts on livelihoods and food security across the SADC region.