HomeInsuranceZimbabwe to Get Half of $60 Million Drought Insurance Pay Out

Zimbabwe to Get Half of $60 Million Drought Insurance Pay Out

<-bsp-bb-link state=”{“bbHref”:”bbg://securities/1004Z%20ZH%20Equity”,”_id”:”0000018f-8c38-de3b-adcf-debb95fe0000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Zimbabwe-bsp-bb-link> will get over half of an expected $60 million insurance pay out meant for four African nations as it reels from the impact of El Niño-induced drought that’s already slashed corn output and led to a state of disaster being declared.

Earlier this month, the African Union’s climate insurance agency said it will pay out at least $60 million to Malawi, Zambia, Zimbabwe and Mozambique to help them offset the impact of the weather catastrophe. The money will equal a fraction of what it needed to alleviate the impact.

“Zimbabwe will get $32 million from insurance pay out in …

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