• This is a clear testimony to the fact that that when we work together as group to share the risk you benefit.
• Need for ministers from member countries to take the conference of parties ministerial sessions seriously.
• Countries that have not ratified the organization in their respective countries to ensure they do so.

Minister of Finance and National planning says Zambia is expected to benefit more than $3million from the African Risk Capacity (ARC) group insurance payouts this year, the amount bigger than the premium paid.

Speaking during the twelve session of the Africa Risk Capacity (ARC) conference of parties, in Johannesburg, South Africa, Dr. Stumbeko Musokotwane explained the more than $3 million amount the country stands to benefit is attributed to the drought Zambia recently experienced, “surely this is a clear testimony to the fact that that when we work together as group to share the risk you benefit.”

Dr. Musokotwane said the insurance payouts by ARC will help recipients to respond to the impact of drought or tropical cyclones, and better protect vulnerable populations by responding in a timely and efficient manner to natural disasters.

The Finance and National Planning Minister who is also ARC Group Chair Chairman stressed the need for ministers from member countries to take the conference of parties ministerial sessions seriously.

He has since urged countries that have not ratified the organization in their respective countries to ensure they do so.

“The benefits are surely very important the party like Zambia we have already benefited.” Said Dr. Musokotwane said.

“This year alone because of the drought that we experienced a few months ago we are already benefiting because we are going to get an amount of more than $3million.”

The Minister said, “We paid two hundred thousand, we are getting more than $3 million.”

Dr. Musokotwane has also recognized and expressed appreciation the pivotal support provided by the African union and the world food programme since the establishment of the organization.

Zambia is among 35 member states of the Africa Risk Capacity Conference of Parties, meeting in Johannesburg, Republic of South Africa.

The country was being represented by Finance Minister Dr. Stumbeko Musokotwane, Disaster Management and Mitigation Unit assistant Director for Early Warning and Preparedness Titus Ng’andu, and Ministry of Finance and National Planning Principal Economist Nkumbu Zgambo.

And United Nations Assistant Secretary General and ARC Group Director General Ibrahim Diong has congratulated Zambia for ascending to the Chair and announced that the next Cop 27 will be held in Egypt in 2023.