Pula a Kenyan Agritech startup will be part of 27 beneficiaries of a private sector climate action fund.
This was earlier announced by US Vice President Kamala Harris during her tour of African countries. In her speech, she indicated “very excited about the future of Africa,” adding that she would be discussing issues like increasing food security, climate change, and growing investment on the continent.”
She furthermore announced that Washington would provide federal investment to boost access to climate information services.
The funding was majorly targeted to promote companies involved in smart agricultural practices, that’s why Pula, among others, fit in.
Pula, founded by Rose Goslinga and Thomas Njeru in 2015, focuses on providing digital and agricultural insurance to mitigate risks for millions of smallholder farmers in Africa.
The fact that Africa, despite having 17% of the world’s arable land, accounts for less than 1% of the global agricultural insurance premiums is significant. This can be attributed to the conventional approach of conducting farm visits to calculate insurance premiums, which is often too expensive for smallholder farmers. As a result, these farmers are left vulnerable to climate-related risks such as flood, drought, pestilence, and hail.
With the fund, Pula can be able to increase food production in Africa whilst being at the forefront of the climate protection fight.
April 6, 2023