Insurer spends Rwf10m to offset livestock losses

Leading insurer, Sonarwa, has so far spent over Rwf10 million to compensate farmers who lost their livestock to theft and diseases in Eastern Province, the insurer‘s Executive Corporate Communications officer, Allen Karungi Gatete told The New Times.She was speaking on the sidelines of the recent agricultural show that concluded yesterday in Mulindi, Gasabo District in Kigali City.“Livestock farmers’ lives will never be the same again,” said Karungi, adding that more than Rwf10m has been spent on the compensation package since the launch of the product last year. The livestock insurance product, Karungi explained, caters for losses against livestock due to illness, theft or death.In a statement issued last week, Karungi urged farmers to utilise the insurer’s “unique insurance product” to avoid making losses, saying the firm accepts liability as long as there is a valid insurance document covering the said risks. “Sonarwa is offering livestock farmers a new and enabling insurance product that is unrivalled in the market.”In an earlier interview, the officer in charge of animal quarantine in the Eastern Province, Dr. Justin Zimurinda, told The New Times that cattle rustling was on the rise in the area due to the prevailing high prices for cattle in the area coupled with the fact that most cattle owners live far away from their animals.Earlier, while briefing cattle farmers at the showground, the Managing Director of Sonarwa, Macdonald James Obi, observed that the livestock product is the only one of its kind in the country.“It offers livestock farmers the opportunity to harness the most out of their stock and not to worry about any occurrence since their stock is insured.” “As one of the country’s largest insurance companies, we believe that this move will strongly add value to the farmers and spur economic growth in Rwanda as losses will be catered for.” A farmer who gave his name only as Gakumba termed the product as great. “It has been handy for livestock farmers because some of us who have been in this business for long know what it means to lose a cow.” The seventh agricultural show was held under the theme: “Accelerating agricultural transformation by promoting Agro processing Industries and post Harvest technologies.”

National

Insurer spends Rwf10m to offset livestock losses