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Saturday, December 3, 2022
HomeNewsStanbic Urges Farmers To Insure Their Cattle

Stanbic Urges Farmers To Insure Their Cattle

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 on their investments.

“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 famers can take advantage of our experienced bankers from the Agribusiness Unit for solid financial solutions,” said Maposah.

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

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.

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

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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.

“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 60% cover limit,” said Zuze.

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

Zuze said theft of cattle, for which there should be an accompanying police report, as well as 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; collapse of 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.

“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,” said Zuze.

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In 2020, 200 cattle are said to have succumbed to anthrax while hundreds more died due to 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.

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