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Mozambique Signs an MoU with African Risk Capacity to Address Recurrent episodes of Drought, floods, and Tropical cyclones.

 

“Although insurance will never cover all the risks associated with a peril in each country, the ARC approach allows for the risks to be managed in a way that multiplies the benefits from limited resources available to Government.” – Mohamed Beavogui

 

 

 

 

 

UN-ASG / Director-General African Risk Capacity, Mohamed Beavogui and HE Adriano Afonso Maleiane, Mozambique’s Minister of Economy and Finance during one of the discussions leading to the signing of the MoU

 

 

 

Maputo, May 15, 2019 – The African Risk Capacity (ARC) Agency and the Government of Mozambique have signed a Memorandum of Understanding (MoU) to provide mid to long-term solutions against the recurrent episodes of drought, floods, and tropical cyclones in the country.

 

 

 

The MoU serves as “a framework to facilitate cooperation and collaboration between the ARC Agency and the Government, and to define the terms and conditions under which the Government and the ARC Agency will work together to address the impact of Extreme Climate Events on Mozambique, including through support provided by the ARC Agency for Mozambique, training of Government officials and other efforts in support of Mozambique objectives.”

 

 

 

Mozambique, which is emerging from two tropical cyclones, is vulnerable to climate change because of its location and geography which expose large areas of the country to tropical cyclones, droughts (every three to four years) and river/coastal storm surge flooding. This vulnerability is heightened by the country’s 2,470 km of coastline and socioeconomic fragility which puts infrastructure, coastal agriculture, key ecosystems and fisheries at risk.

 

Speaking about the signing of the MoU, the United Nations Assistant Secretary-General and Director-General of ARC, Mohamed Beavogui indicated that the aim is to work with the Government of Mozambique to understand its own risk profile vis-à-vis the various perils facing the country and develop customised response plans.

 

“ARC is a Development Insurance Mechanism which links risk profiling, contingency planning and a payout. “Although insurance will never cover all the risks associated with a peril in each country, the ARC approach allows for the risks to be managed in a way that multiplies the benefits from limited resources available to Government. Therefore, helping to save more lives and livelihoods at the early stage of a disaster…before the arrival of humanitarian assistance…,” ASG Beavogui stated.

 

“The Government of the Mozambique appreciates the onset of formal collaboration with the African Risk Capacity” said HE Adriano Afonso Maleiane, Mozambique’s Minister of Economy and Finance. “We expect that the MoU will initial a well-coordinated take-off of activities towards strengthening the capacities of our climate management authority officials as well as other personnel to better understand our risk profile and provide quicker responses in the event of natural disasters,” he concluded.

 

 

 

Under the MoU, the Government of Mozambique and the ARC Agency will work together through the Program to prepare for the potential participation of the Government as an ARC Ltd member. At the end of the Program, the Government will decide whether to participate in ARC Ltd and its level of participation.

 

 

 

Government involvement in the Program does not commit it to participate in ARC Ltd but rather support an informed decision-making process on climate risk insurance.

 

 

 

ARC is working with other development partners including the African Development Bank as well as the World Bank towards a premium financing support to Mozambique when it decides to take the sovereign disaster risk insurance coverage

 

Source: Thepressradio.com/ Dickson Boadi

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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