Stanbic Bank Urges Farmers To Insure Their Livestock

1 year agoFri, 08 Apr 2022 05:11:18 GMT
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Stanbic Bank Urges Farmers To Insure Their Livestock

Stanbic Bank Zimbabwe has encouraged farmers to take advantage of its Agribusiness advisory services, as well as livestock insurance cover to mitigate against various challenges brought about by climatic change and other natural factors to cushion themselves against potential losses.

The Standard Bank Group subsidiary’s Head, Agribusiness, Tawanda Maposah said Stanbic’s Agribusiness unit is on hand to offer sound financial solutions to commercial farmers for them to protect and maximise their investments. Said Maposah:

We have a comprehensive portfolio of advisory services which covers a diverse section of the economy and Zimbabwe being an agro-driven economy, one such sector in which we provide viable financial solutions is agriculture.

To that end, commercial farmers can take advantage of our experienced bankers from the Agribusiness Unit for solid financial solutions.

Maposah also urged cattle farmers to insure their livestock against diseases such as anthrax, Foot and Mouth and January disease which have been wiping out cattle in various parts of the country over the last few years.

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Stanbic Bank Head, Client Solutions, Tich Zuze said the leading financial services institution works with insurance partners to provide comprehensive insurance cover which not only protects cattle but extends to other livestock. Said Zuze:

While anthrax, Foot and Mouth and January disease on cattle are a major concern, the livestock insurance cover extends to accidental death, emergency slaughter on the advice of a recognized veterinary surgeon and theft of livestock in raising units or paddocks.

Livestock covered include dairy cattle, beef cattle, poultry, pigs, sheep and goats. The cattle can also be insured against a wide range of other perils such as fire, smoke and lightning. Added Zuze:

While our insurance portfolio is wide-ranging, farmers are urged to cushion themselves against the loss of their cattle from anthrax, Foot and Mouth and January disease by taking advantage of our user-friendly packages. They get to receive a 60% cover limit.

The cattle are also covered against impact by road vehicles or railway locomotives; snake bites; accidental electrocution; non-political riot and strikes; malicious injury; flooding, earthquake and storm damage.

Zuze said the theft of cattle, for which there should be an accompanying police report, as well as the use of force or violence against workers while animals are in paddocks or grazing in addition to calving losses are also covered under the comprehensive cattle insurance.

He said any accidental death or injury; drowning; the collapse of a building; falling into a pit or being hit by a falling tree as well as transit risks -within a radius of 25kms are all insurable perils for cattle. He said:

The benefits of the cover include protection from loss of valuable animals as well as affordable cover as it is tailor-made to an individual’s needs at competitive rates. As for the cost, the premiums are based on one’s needs and business risk profile.

In 2020, 200 cattle are said to have succumbed to anthrax while hundreds more died due to the January disease that hit many parts of the country.

January disease is still a cause of concern countrywide with parts of Mashonaland West and Masvingo the hardest.

Anthrax hit Gokwe, Nkayi, Gutu, Bikita, Marondera, Mazowe, Chegutu, Makonde and Sanyati.

More: Pindula News



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