Insurance for Tobacco Farmers

Source from:  kbc.co.ke By Agatha Katheu 04/21/2005

Tobacco farmers in Kenya will soon be insured against crop failure. British American Company Wednesday said that so far no insurance company in the country offers this sort of policy and is exploring the issue with the government to ensure that farmers will be insured in future . Tobacco sometimes gets destroyed by hailstorms or drought but the company still demands to recover loans extended to farmers . In the past , tobacco farmers have had to source for funds from elsewhere to repay loans advanced to them by BAT. The British American Tobacco company has recorded a 4% increase in Gross Turnover which stood at Kshs 9.86 billion and a profit before tax increased to 1.75 billion shillings last year. The company's managing Director Simon Welford asserts that the Tobacco Bill which is still pending, if enacted in parliament without considering some of the economic issues, it might affect the tobacco business in the country. Enditem