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SunCulture, a Kenyan-based start-up providing solar-powered irrigation solutions and agricultural technology to smallholder farmers in Africa, has launched an insurance program.
The program dubbed 'SunCulture Protect’ was done in partnership with Turaco Micro Insurance to build small-holder farmers' resilience against climate change with affordable insurance.
In a press statement dated November 29, 2024, SunCulture, a leader in solar-powered irrigation solutions says this innovative insurance solution provides enhanced protection and peace of mind to smallholder farmers using SunCulture's pay-as-you-go (PAYG) devices.
This collaboration comes at a critical time as climate change increasingly impacts communities across Africa.
As the impact of climate change escalates, the frequency and intensity of extreme weather events are expected to rise, negatively affecting health outcomes and pushing millions of Africans into poverty.
Each year, health shocks push 14 million people into financial hardship, a figure projected to increase by an additional 10 million due to the health impacts of climate change.
This partnership aims to address the urgent need for risk mitigation tools, such as insurance, for the most vulnerable populations, enabling and expanding access to healthcare.
The insurance offers essential health and life coverage, safeguarding customers and their families against unforeseen medical expenses and risks that are exacerbated by extreme weather events.
“At SunCulture, our mission has always been to help smallholder farmers grow more food and improve their livelihoods," said Samir Ibrahim, CEO of SunCulture.
"Partnering with Turaco allows us to extend our commitment by not only providing sustainable energy solutions but also offering financial security and peace of mind to our customers and their families,” he added.
Ted Pantone, CEO of Turaco, expressed similar enthusiasm: "We believe that affordable insurance should be accessible to everyone, especially those that are the most vulnerable to the impacts of climate change.”
“Our partnership with SunCulture enables us to provide essential coverage that not only protects livelihoods but also fosters long-term resilience among smallholder farmers."
By combining SunCulture's innovative agricultural solutions with Turaco's expertise in affordable insurance, the collaboration is committed to making a lasting difference in the lives of millions of people.
Co-founded in 2012 by Samir Ibrahim and Charles Nichols, the venture provides solar-powered irrigation systems comprising a panel, battery and water pump to farmers under an installment repayment model.
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