According to the Yale Climate Connection Organization, a study conducted in 20 African countries concerning extreme weather events, since 2000, found there have been 13 droughts, 7 floods and 2 heatwaves.
Professor Petteri Taalas, of the World Meteorological Organization, said heatwaves, heavy rains, floods, tropical cyclones and prolonged droughts, places lives at risk.
Disaster Risk Financing to African Governments has amounted to an estimated $40 million in insurance payouts, according to the African Development Bank.
This amount is associated with climate-change related disasters.
To address disaster risk financing challenges, the Bank established the African Development Bank’s Africa Disaster Risk Financing Programme (ADRiFi).
The Fund has received $55 million in contributions from donors and supports about 15 African countries.
Zambia is one of the countries assisted with drought relief funding back in June 2022, with an amount of about $5.3 million.
The payout comes from drought insurance under the ADRiFi Multi-Donor Trust Fund.