Life as a farmer can be difficult to say the least and it can be even harder when that farm is on Tanzania. If you’re a farmer who’s looking to make life just a little bit easier, you should consider turning to an insurance company to take some of the stress off your back.
Why Should You Get Insurance?
It’s no secret that farmers suffer the added risk of agricultural loss. This can be caused for a variety of reasons, from floods to drought, and farmers have absolutely no control over it. Not only this, but natural disasters and other causes of agricultural loss causes a huge deficit in the crops being produced and, therefore, farmers are losing a large amount of money. That’s why countries like Tanzania are implementing insurance for these farmers, so that when the time comes when their farms are affected by these disasters, they can be compensa
By giving the farmers money for their loss, Tanzania’s overall economy benefits. When the crops in a country suffer loss and the farmers don’t get paid, less money is spent on local products; therefore, the economy takes a massive hit. Not only this, but when agricultural production is lost in a country, less goods are exported to other countries, which causes the economy of that country to dip.
Tanzania and Agriculture
Tanzania is one of the major countries suffering from the effects of climate change. The growing unpredictability in global weather causes hectic storms and droughts in the country. Perhaps in another country, the effects wouldn’t be as severe; however, seventy percent of Tanzania’s population gets its employment from agricultural production.
Climate Change and Tanzania
The government of Tanzania, and environmentalists of the country, is known to encourage the population to produce in an Eco-friendly manner. In this way, Tanzania largely keeps current and future generations in mind. The country does this, perhaps, because of the major effects of climate change it is seeing on crops and agriculture.
If it is not controlled, climate change will cause Tanzania to spend necessary money on managing the aftermath of climate change rather than spending that same money on development. The UK, through ‘Decentralized Climate Finance, is planning to support Tanzania in the fight against climate change. The UK is doing so by providing Sh18 million to the country. This will likely help combat natural disasters, which will also aid farmers and other workers when they are affected by drought, flooding, etc.
Tanzania is facing major agricultural loss as a result of the warming global climate. Because seventy percent of the population is employed by farming, that is seventy percent of the population of Tanzania that could be either unemployed or financial deficit because of a loss in crops. That’s why Tanzania is turning toward insurance to compensate for the money that would otherwise be lost when disaster hits. This way, the economy does not completely tank when crops die.