Land Bank and the Walter Sisulu University (WSU) have made history with the graduation of the first cohort of agricultural insurance students. Enrolled for the Agricultural Insurance Assessment Programme (AIAP), the twenty students were recently awarded certificates in crop insurance assessment during a glitzy ceremony.
The course presented by Land Bank and WSU aims to assist in transforming the crop insurance value chain by introducing new assessors to the sector, and simultaneously creating job opportunities for this cohort and those that follow.
According to Rebecca Phalatse, general manager for marketing and communications, in order to continuously work on achieving the mandate of the Land Bank group, one of their business objectives is to provide the necessary tools within their scope to support “emerging farmers and farming communities”.
“Land Bank has therefore developed the AIAP to identify and train agricultural economist (or equivalent) graduates in crop insurance assessment protocols to service the agricultural sector,” she said.
Increasing the footprint of emerging farmers
Their aim is to aid transformation in the agricultural sector and increase the footprint of emerging farmers in the South African agricultural space, including the agricultural insurance sector.
Post-support for graduates
MEC for rural agriculture and agrarian land reform, Nonkqubela Pieters, was in attendance to deliver a keynote address marking the rollout of the programme for the first time in the Eastern Cape.
“We are very excited to be part of the awarding ceremony where these young people are receiving certificates for their participation in the programme,” Pieters said.
She highlighted parts of the province that are still affected by droughts and the growing need for crop insurance. In addition, the recent rainfall and floods damaged some of the crops planted by farmers.
Those who did not have insurance are still feeling the pain. However, those who insured their crops benefitted from the risk covers they took, Pieters pointed out.
“With the skills these young people now have, we have to work harder in educating farmers to prioritise insuring their crops and livestock.
“All of us in the sector have to support these young people so that they get clients, work with insurance companies to bring risk covers to the farmers in our province, including those we invest in their businesses in this province,” Pieters said.
Competitive advantage
Addressing the graduates, Pieters said the skills obtained in the programme gave them a competitive edge while introducing them to a sector with vast opportunities.
Pieters said the government, including other stakeholders, needed to ensure that the new graduates have partnerships with insurance companies. This is to ensure that their introduction to the field is done properly, she said.
“The Land Bank and WSU took a very important decision to introduce this programme in our province.
“All of us have to work together in ensuring that these young people access business finance from government departments like DEDEAT, entities like the ECDC, Isiqalo Youth Fund, SEFA, and SEDA to help them grow their businesses.”
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