AFC Insurance managing director Cuthbert Masukume says the Farmers Basket Insurance Scheme is successfully providing a buffer for farmers facing climate shocks, with plans to further expand it underway.
Following a successful pilot launch in Goromonzi last year, the program has expanded nationwide, reaching thousands of farmers across multiple provinces.
Launched by AFC Insurance under the guidance of the Insurance and Pensions Commission and administered by the Insurance Council of Zimbabwe, the scheme initially covered 4 014 farmers in Goromonzi.
Of these, 1 800 made full premium payments, securing protection against crop failure with the insured farmers receiving payouts of US$65 each.
“We see this as a game-changer and a key solution for mitigating the challenges brought by climate change,” Masukume told NewsDay Business in an interview.
“Climate variability continues to disrupt agriculture, and this initiative ensures that farmers have a financial buffer when disaster strikes.”
Buoyed by its initial success, the Farmers’ Basket Insurance Scheme has expanded beyond Goromonzi to seven additional districts, including Buhera, Gokwe South and Jerera.
Hence, the number of farmers subscribed to the scheme has surged to 20 411.
Recognising the diverse needs of smallholder farmers, the scheme is set to expand coverage beyond crops to include livestock starting in June.
“We understand that smallholder farmers, in addition to growing crops, also rely on livestock for their livelihoods,” Masukume said.
“That’s why we are extending cover to include cattle insurance, starting from the 2025–2026 season.”
Beyond livestock, the program will also introduce funeral and medical insurance for farmers.
Under the new structure, farmers will have access to a funeral cash plan to assist with burial costs, as well as a hospital cash plan that provides payouts for hospital stays exceeding two days.
“We are creating a comprehensive solution that addresses all the risks farmers face,” Masukume added.
“Farming is not just about crops. It’s about livelihoods, families and communities. Our goal is to provide holistic financial protection.”
For many smallholder farmers, the scheme has been a lifeline.
“Insurance is important, especially this Farmers’ Basket Insurance. After last season’s drought, I thought I was finished, but the payout helped me recover. I was able to buy inputs and get back to farming. It really works,” one local farmer who did not wish to be named told NewsDay Business.
Tendai Marozhe, an agronomist working with the programme, emphasised the impact of the payouts.
“The insurance scheme is not just a financial cushion — it’s a motivator,” Marozhe said.
“It enables farmers to reinvest in their farms and continue farming despite difficult conditions.”
