Econet develops new product for farmers - EcoFarmer

Econet Wireless has developed a weather-indexed drought insurance service for small holder farmers. The service allows farmers to make a financial claim if their crops fail because of either inadequate or excessive rainfall.

Under the Econet scheme, which is part of a programme for farmers known as EcoFarmer, a farmer can buy insurance for as little as eight cents per day, which is deducted from their prepaid phone account during the agricultural season. If the rain does not fall, resulting in a drought, the farmer will be given as much as $100 for every 10 kg seed pack planted.

Source: Bulawayo24