The significant grant, announced at the World Economic Forum, will be used to provide insurance coverage worth US$127 million across seven countries, including Bangladesh, Pakistan, Malawi, Ghana, Nigeria, Kenya, and Mali. The initiative aims to enhance the resilience of smallholder farmers in the face of increasing climate-related disasters, such as droughts and floods.
Founded in 2014 by Rose Goslinga and Thomas Njeru (pictured), Pula has pioneered the development of scalable, data-driven agricultural insurance solutions. This partnership with Bayer will significantly expand the reach of these solutions, enabling farmers to recover from yield losses and reinvest in their livelihoods.
The initiative builds upon the success of a 2021 pilot program in Zimbabwe, where Pula successfully insured 31,000 farmers against climate risks.
“We believe this initiative will enable smallholder farmers to overcome climate shocks, empowering them to contribute to global food security,” said Matthias Berninger, EVP of Public Affairs, Sustainability, and Safety at Bayer.
Rodrigo Santos, President of Bayer’s Crop Science Division, added that the partnership supports sustainable growth and regenerative agriculture.