SPEED SAVES LIVES: REPAIR PROGRAMME DELIVERS USD 16.8 MILLION PAYOUT TO MOZAMBIQUE TWO DAYS AFTER GOVERNMENT REQUEST
The Regional Emergency Preparedness and Inclusive Access to Recovery (REPAIR) programme has demonstrated the vital role of speed in disaster response, disbursing over USD 16.8 million to Mozambique just two business days after the Government submitted an official request for support.
REPAIR is led by the World Bank, with financial support from the Global Shield Financing Facility (GSFF) and implemented by ARC Ltd., an affiliate of the African Risk Capacity Group.
African Risk Capacity Ltd. CEO Lesley Ndlovu on the 2024 TIME100 Climate List
JOHANNESBURG, 15 November 2024 – TIME has named African Risk Capacity Limited (ARC Ltd.) CEO Lesley Ndlovu on its 2024 TIME100 Climate List, recognising him as one of the 100 most influential climate leaders in business. Lesley was selected for his leadership of the innovative hybrid mutual insurer and financial affiliate of the ARC Group, which has been pioneering parametric insurance in Africa to build climate resilience. Over the past decade, amid escalating climate-driven disasters across Africa, ARC Ltd. has disbursed $230 million in claims payouts to member states and provided coverage to 50 million people. Under Ndlovu’s leadership, ARC Ltd. has expanded its network of members, donors and partners, increasing access to affordable insurance across the continent and extending protection to marginalised communities, such as refugees, for the first time. According to TIME, the selection process was influenced by the prominent 2024 theme of climate finance and a focus on candidates demonstrating measurable, scalable achievements and recent action. Ndlovu was recognised in the ‘Defenders’ category, highlighting his leadership in protecting vulnerable African communities from climate risks. His membership on the Board of Directors of the UN Principles for Sustainable Insurance and his involvement with the Glasgow Financial Alliance for Net Zero further reflects his commitment to sustainable practices and addressing climate change. Says Ndlovu: “It is an honour to be included in the prestigious TIME100 Climate list of changemakers. This recognition underscores the critical role of innovative financial solutions, like parametric insurance, in protecting lives and livelihoods from the escalating impacts of climate change. We remain committed to building climate resilience, and our goal is to expand coverage to all 55 African Union States by 2034.” See Lesley Ndlovu’s #TIME100Climate list profile here: https://time.com/7172504/lesley-ndlovu/ For the full list click here: https://time.com/time100-climate
Ghana purchases its first drought insurance policy from ARC
Johannesburg, Frankfurt, Bonn, October 17 2024 – The Government of Ghana has purchased its first-ever sovereign drought insurance policy, taking a significant step towards safeguarding its vulnerable communities and agricultural sector from potential drought. Through an inclusive, country-led process coordinated by the Global Shield Secretariat, the African Risk Capacity (ARC) Ltd. issued the policy for the benefit of the Government of Ghana, financed with US$1 million by KfW Development Bank on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the Global Shield Solutions Platform (GSSP), managed by Frankfurt School of Finance & Management. This collaboration underscores the government’s commitment to building resilience in agriculture and protecting livelihoods in the face of climate-related risks. The Government of Ghana has taken proactive steps to better protect its agricultural sector against the risk of drought. The policy, designed to provide financial relief in the event of a drought, will enable the government to respond quickly and efficiently to support affected farmers and communities. Funds from the insurance payout will be directed towards safeguarding food security and stabilizing the agricultural sector. Ghana’s investment in the financial resilience of vulnerable livelihoods marks the culmination of a truly collaborative process, set in place by the Global Shield against Climate Risks Initiative. The convening of relevant stakeholders, and a tailor-made, demand-driven and inclusive approach to identify key climate risks and viable pre-arranged finance mechanisms paved the way for this first drought insurance policy. Ghana’s proactive approach, in collaboration with ARC, sets a strong example for other African nations facing similar climate-related challenges. As the continent confronts the realities of climate change, risk transfer mechanisms, such as drought insurance, will play a crucial role in protecting lives, securing livelihoods, and strengthening climate resilience across Africa. “The Government of Ghana has shown foresight and initiative by implementing this first-ever drought policy,” says Malvern Chirume, Chief Underwriting Officer, ARC Ltd. “Within the context of climate change where drought events will increase in frequency and severity, the country is now protected against a potential crisis.” Furthermore, Chirume emphasises that the policy extends beyond financial protection: “It ensures that vulnerable communities in Ghana can continue to thrive despite increasingly erratic weather patterns due to the early warning tools available to the government. This policy is also a key component of our broader efforts to enhance climate resilience across Africa.” “We are delighted to see the implementation of the Global Shield process come to fruition in Ghana, through multi-stakeholder, collective action, marking the completion of the first in-country process. We know that disasters don’t wait to happen – they strike with little warning, so the importance of pre-arranged finance mechanisms cannot be stressed enough. With the ARC policy in place, we are assuring the resilience of vulnerable livelihoods amid the ever-growing threats posed by climate change”, says Nilesh Prakash, Co-Director of the Global Shield Secretariat. “The GSSP is very pleased to financially support the purchase of ARC drought insurance by the Government of Ghana for the benefit of vulnerable populations”, says Karsten Löffler, Co-Head of GSSP. “It is a good example of what pooling funds for pre-agreed risk financing solutions and international coordination can achieve.” “KfW Development Bank is very happy that Ghana is becoming an active member of the ARC family”, states Malte Marek, Senior Portfolio Manager at KfW. “Being the second largest economy in western Africa, Ghana can set the scene for other countries joining ARC in the future.” “Ghana’s participation in the ARC risk pool is evidence of the proactive approach that the government is taking to protect the lives and livelihoods of the population that relies on agriculture as a source of livelihoods” according to Charlotte Norman, Government Coordinator for the ARC Programme. “This protection is one of many initiatives that the Government of Ghana is taking to boost its capacity to respond to various climatic shocks that affect its population”.
Closing the insurance gap and continuous improvement are critical in addressing Africa’s increasing climate impacts, ARC Ltd. Members’ Retreat reveals
JOHANNESBURG, 18 September 2024 – With Africa facing increasing climate impacts, closing the disaster risk insurance gap has become more critical than ever, as revealed at the recent African Risk Capacity (ARC) Ltd.’s Members’ Retreat. Held at the Park Plaza Westminster Bridge Hotel in London, the event brought together ARC Ltd. staff, members, partners, and other stakeholders to discuss challenges and solutions. Luis Alton, Senior Financial Sector Specialist at the World Bank’s Disaster Risk Financing and Insurance Program highlighted the inefficiencies in current resource allocation for mitigating climate shocks. “While many countries have multiple instruments to help them with this, they’re not joined up strategically, which can lead to inefficiencies,” he said. “For example, where insurance should be used for extreme events, it is used to cover less extreme events instead.” The retreat also addressed the rising number of displaced persons due to climate events. In 2010, there were 44 million globally displaced persons worldwide, including those internally displaced, refugees, those who have crossed borders, and those looking for protection. In 2024, this number has spiked to 120 million people. “Many of these refugees come from areas where there are other conflicts, like war and violence. They also live in climate disaster risk areas and will be further displaced as extreme weather events increase. So, the numbers are only going to rise. It’s clear that the models in place are not enough,” said UNHCR Climate Insurance Lead and Strategic Risk Advisor Mojisola Terry. “We need to disrupt the way institutions respond to, utilise resources, and fund their climate interventions,” Terry added, explaining that it should no longer be a debate. “We want to demonstrate that investing in risk mitigation will lead to more resilient communities, better assistance, better targeting, and hopefully address the humanitarian landscape.” Phil Stevens, International Finance Director at the UK Foreign Commonwealth and Development Office (FCDO), who also serves on the ARC Group Board, referred to key climate discussions, including those at COP29 this year, saying: “ARC Ltd. is going to be instrumental to these conversations, as well as the broader conversations we’re hearing around the Bridgetown 3.0 initiative and the call to action from President Biden, to name a few.” The Bridgetown initiative calls for urgent action to reform the international financial architecture, while President Joe Biden has called on global leaders to catalyse climate action through the Major Economies Forum on Energy and Climate. Increasing impact through innovation The ARC Group’s innovative approach to climate resilience was highlighted by Group Governing Board Chairperson Dr Mothae Anthony Maruping. He explained that, in the 12 years of its existence, the group has expanded its products beyond drought to include outbreaks and epidemics, tropical cyclones and floods, and brought humanitarian donor partners on board. “We will keep challenging ourselves to come up with new and creative solutions by actively listening and engaging fully in new dialogues that will define our path,” he said. Terry noted that climate resilience must be looked at holistically. “That’s why the partnership between the UNHCR and ARC Ltd. to increase protection to those who need it the most through the Replica programme is logical and timely,” she explained. The Replica programme extends ARC Ltd.’s parametric insurance to humanitarian organisations. Through the programme, humanitarian organisations can take out insurance on behalf of a country against climate-induced threats and disease outbreaks. The UNHCR took out a modest Replica premium for drought insurance in the central region of Malawi for 2024. In April, the release of funds was triggered, resulting in a payout which assisted 20,000 people – 60% of Malawi’s refugee community. “When it comes to implementing these resources, we always look at how we can reach out to the most vulnerable,” said Doshanie Kadokera, Malawi Government coordinator. Other partners and donors have also been inspired. “Humanity Insure has agreed to supplement the premium subsidy for Malawi for 2024/25,” Terry explained. The UK, through FCDO, has been a donor partner of ARC Ltd. since its inception in 2014. This long-term commitment demonstrates FCDO’s support for the company’s work on the continent. “Since then, we have provided coverage to 130 million African people,” shared Stevens. Continuous improvement for climate resilience Terry pointed out that no perfect climate resilience model exists, only opportunities to improve. “The UNHCR is committed to continuing to work with ARC Ltd., as well as other partners, to make sure we have access to the best possible data so we can plan and prepare better in the event of disasters.” Kadokera added that there is a need for ownership among governments when it comes to building climate resilience in African countries. “Malawi’s risk management strategies and policies with ARC Ltd. and partners like the UNHCR, reflect our commitment to protecting our citizens and their livelihoods.” ARC Ltd. believes in looking internally to constantly improve. “Looking ahead, it’s clear that we still have a lot of work to do. Our focus remains on three priorities: expanding coverage to all 55 African Union countries, managing capital funding and reinsurance to maintain an A- credit rating, and strengthening its team and processes for greater efficiency,” explained CEO Lesley Ndlovu. Unified action the key The retreat was also an opportunity to celebrate ARC Ltd.’s 10th anniversary and reflect on its achievements while charting a forward-looking strategy for sustainable climate risk management across the continent. “It was truly moving to hear from so many of our partners and members who shared their experiences and congratulatory messages. These testimonials are a testament to our shared success,” said Ndlovu. Since its inception in 2014, ARC Ltd has paid out $229.8 million in claims, provided 1.2 billion insurance coverage and protected 30 million Africans per year. ARC Ltd. Board Chair Dr Maxwell Mkwezalamba lauded ARC Ltd.’s pivotal role within the broader ARC ecosystem. “Over the past decade, ARC Ltd. has translated visionary goals into actionable financial solutions for member states, delivering critical insurance coverage that protects them from the devastating impact of climate disasters.” Dr Maruping emphasised the importance of
ARC Ltd. And US Government partner to safeguard food security and expand parametric insurance in Africa
JOHANNESBURG, 13 February 2024 – African Risk Capacity Limited (ARC Ltd.) and the United States Government (USG) have entered into a landmark US$11.7 million partnership to safeguard food security and strengthen climate resilience in Africa by increasing access to parametric insurance. The project aims to protect vulnerable smallholder farmers facing increasing climate change-related disasters while assisting African governments to better respond to climate risks. Parametric insurance provides rapid payouts based on pre-agreed triggers, allowing timely responses to natural disasters. The USG funding will enable ARC Ltd. to scale up technical assistance in-country and increase coverage across Africa over the next three years. Says ARC Ltd. COO Ange Chitate, who heads up the project: “ARC Ltd. is committed to protecting the livelihoods of farmers and pastoralists across our African Union member states. Our priority with this grant is to provide coverage to 19 states, and with the support of the USG, we will refine and develop innovative products that will meet the evolving needs of these countries.” The project has two primary objectives. Firstly, governments will be assisted with capacity building to manage climate change-induced disasters through the effective use of parametric insurance. To this end, ARC Ltd. will work closely with governments to customise risk models for each country, establish contingency plans and integrate parametric insurance into policy frameworks. This localisation helps ensure that the insurance payouts will meet the real needs on the ground. Secondly, the project seeks to increase the uptake of parametric insurance through close cooperation with the African Union and regional economic communities to encourage adoption. It will also focus on aligning domestic policy frameworks with regional policies to embed parametric insurance in existing climate adaption frameworks. Increasing climate change impacts requires responsive diversification to ensure the project’s long-term sustainability and ARC Ltd. is committed to expanding its portfolio to cover more countries, hazards and people. Plans include developing demand-driven micro/meso insurance and diversifying beneficiaries, such as pastoral farmers locally and humanitarian organisations internationally. Various activities have been identified to achieve the objectives. On the technical side, ARC Ltd. will further refine and develop new products for member states with a focus on drought, flood and tropical cyclone models. ARC Ltd. will also work more extensively with technical and financial partners, UN agencies, international financing institutions and universities to identify how data can be used for increased evidence-based policy decision-making and impact measurement. To pave the way for more countries to participate in the risk pools, ARC Ltd. together with ARC Agency, will align technical, governance, and policy capacity with the risk pool requirements by hosting risk transfer workshops in select countries. Training local experts is also a key focus. ARC Ltd. will also complete policy underwriting for single and multiperil cover, having identified the countries that qualify for each. The USA aims to help more than half a billion people in developing countries to adapt to and manage the impacts of climate change through President Biden’s Emergency Plan for Adaptation and Resilience (PREPARE). With this partnership, it has strengthened its strategic interests in disaster risk financing in Africa while signalling its commitment to investing in locally led climate solutions. For ARC Ltd., this project aligns with its mission to safeguard more nations and create effective pan-African climate response systems. “ARC Ltd. has set an ambitious goal of protecting the lives and livelihoods of 700 million vulnerable people in Africa by 2034,” says ARC Ltd. CEO Lesley Ndlovu. “The partnership with the United States Government, and others, will help us achieve this goal. It also demonstrates the commitment of developed nations to building the resilience of the global south to withstand climate disasters.”
ARC Ltd and Floodbase Partner to Develop Parametric Flood Insurance Solutions for Africa
Brooklyn, New York, October, 19 – Today Floodbase announced a partnership with African Risk Capacity Limited (ARC Ltd.) to develop, distribute, and scale parametric flood insurance solutions across Africa. Flood risk in Africa is largely uninsured, resulting in economic fragility, agricultural instability, and community displacement. The sprawling nature of farmlands, along with the high-risk status of African countries, has made it difficult for insurers to structure adequate indemnity insurance. To help close this insurance gap, ARC Ltd and Floodbase will develop parametric flood microinsurance products that can be scaled across Africa to cover smallholder farmers against agricultural risk. Unlike indemnity insurance, these products can pay out within days or weeks when the magnitude of flooding exceeds a predetermined threshold. They will be designed with predetermined pricing and payout thresholds based on Floodbase’s 23 years of observed flood history. This approach enables a country-wide agricultural flood solution for at-risk farmholders to support the population from ARC’s African Member States to recover more quickly from flood catastrophes. “Since its inception in 2014, ARC has shown that the parametric insurance model works and is impactful. We’re excited to partner with Floodbase to complement our portfolio of innovative parametric solutions to support flood vulnerable communities across Africa, with the goal of helping them quickly rebuild and recover following damaging flood events” said David Maslo, Head of Business Development at ARC. ARC Ltd.’s region-specific specialization and distribution network, in combination with Floodbase’s unmatched flood data and expertise enables a significant step forward in mitigating the impact of flooding, insuring previously uninsurable flood risk, and fostering resilience across the African continent.
The ARC Group announces a USD 2.5 million insurance payout to the Togolese Republic’s recovery from drought
JOHANNESBURG, 3 May 2023 – As the West and Central Africa region counts the cost of the recurring drought events that have swept through parts of the region, particularly during the 2022 agricultural season, the African Risk Capacity (ARC) Group recently made an insurance payout of USD 2.5 million to the Government of the Togolese Republic to honour the conditions of the sovereign insurance policy taken out by the country to cover this risk. In line with its mandate to work with African Union Member States to help them to better plan, prepare and respond to climate-induced threats and disease outbreaks, ARC has been working with Togo since 2017 to strengthen its response capacities to drought events. The Togolese Republic first participated in ARC risk pools for drought during the 2019/2020 agricultural season. Togo’s participation in the 2022/2023 ARC risk pool enabled the country to transfer its risk onto international markets via ARC Limited (Ltd), a mutual insurer owned by the African Member States and the commercial affiliate of the ARC Group. ARC Ltd has been providing risk pooling services to African Union (AU) member states since 2014, and this payout makes another strong case for the role of parametric insurance in building a country’s resilience to climate-induced threats. “It’s been a great honour to work with the Togolese Republic on its journey to build the country’s resilience to the threats paused by drought events. This payout will reach the most vulnerable, and is a confirmation of the need for countries to proactively manage their risks in the face of growing climate threats”, said Lesley Ndlovu, CEO of ARC Ltd. Togo’s insurance policy in this ARC risk pool was made possible by an insurance premium paid in part by the government, with premium support contribution from the Africa Disaster Risk Financing Programme, a framework developed as a collaboration between the African Development Bank and the ARC Group, funded by the Agence Française de Développement (ADRiFi AFD). Togo’s 2022/23 agricultural season was marked by pockets of intermittent dry spells in the north, particularly during the sowing window. The dry spells that lasted longer than 10 days caused a reduction in yield and agricultural production at the end of the season. According to the AfricaRisk View, ARC’s technical tool for monitoring the season, 689,267 people were affected in the prefectures of Savannes, Kara, and Central. To implement planned payout activities, the Government of the Togolese Republic will be guided by a pre-agreed Final Implementation Plan developed as part of the ARC contingency planning process that is facilitated by ARC Agency, which is responsible for working with member states to ensure their preparedness to manage such disaster events. Funds received will be used to implement a mobile money cash transfer response where 9,920 households will receive USD $71.4 every month for three months to help them cope with the impact of the drought. Not only will this cash transfer contribute to food security for beneficiary households but it will also prevent them from resorting to negative coping mechanisms such as selling off productive assets. To reach beneficiaries efficiently, the government will be supported by various stakeholder groups, including the National Agency for Civil Protection (NACP), the Agricultural Statistics, Information and Documentation Directorate (DSID), the Ministry of Agriculture, Livestock and Fishery Production (MAPAH), None-Governmental Organisations, Civil Society Organisations, and the local government. “The ARC mechanism is designed to support AU member states in their fight against climate-induced threats and disease outbreaks and to provide country-specific solutions based on needs. We are happy that Togo is taking action to protect vulnerable populations. We look forward to a continued relationship with Togo as we intensify efforts to strengthen response capacities and preparedness.” said Ibrahima Cheikh Diong, UN Assistant Secretary General and ARC Group Director General ARC’s unique value proposition enables it to provide innovative financial mechanisms to pool the risk of participating African countries and transfer it to international reinsurance markets to strengthen members’ Disaster Risk Management (DRM) systems.
The ARC Group announces an insurance payout to the Republic of The Gambian towards recovery from drought
JOHANNESBURG, 20 April 2023 – The Government of the Republic of The Gambia recently received an insurance payout of USD 187 641 following its participation in the African Risk Capacity (ARC) Group mechanism, designed to help African Union (AU) member states plan, prepare and to better respond to extreme weather events. The funds come at a time when the country is facing severe food insecurity and will support recovery efforts from the recent drought event and help the government reach the most affected populations. The payout, made by ARC Limited (ARC Ltd.), the insurance affiliate of the ARC Group responsible for risk pooling and transfer, is the result of a failed 2022/2023 agricultural season. The payment was made to the government in fulfilment of the conditions of the drought sovereign insurance policy taken out by The Gambia to cover this risk. Insurance taken out with ARC Ltd avails predictable finance to facilitate response to a disaster event of an agreed attachment point by a participating country. The Gambia’s participation in this ARC risk pool was made possible by an insurance premium paid in part by the government, with premium support contribution from the Africa Disaster Risk Financing Programme, a framework developed as a collaboration between the African Development Bank and the ARC Group, funded by the Agence Française de Développement (ADRiFi AFD). As drought conditions spread across West Africa’s Sahel region, The Gambia was amongst the most affected during the 2022/23 agricultural season. This led to late planting in the districts of Badibou, Jarra West, Kiang North Bank West, and Upper River North. According to the AfricaRisk View, ARC’s technical software for early warning and monitoring, a total of 153,902 people were affected, triggering a payout of USD 187,641. “We are thrilled to be making this payout to the Government of the Republic of the Gambia and look forward to seeing the difference it will make in the lives of affected communities. ARC has been working closely with the country’s Disaster Risk Management structures to strengthen its response capacities to drought, and this payout is the culmination of these efforts,” said Lesley Ndlovu, CEO of ARC Ltd. “The payout will go a long way towards facilitating timely response on the ground, especially given the existing contingency plans to guide the implementation response.” Through the Replica programme, a strategy which allows humanitarian actors to take out a policy on behalf of a country, Replica partner, the World Food Programme, which took out a policy on behalf of The Gambia, also received a payout of the same amount. This payout will also be used to implement recovery activities in the country and complement other efforts. The Final Implementation Plan, developed from ARC’s contingency planning process, will guide the use of the payout, and assist 17,058 people in the affected regions. The Republic of Gambia has chosen the use of a cash transfer to be managed through the National Disaster Authority (NDMA) to reach the most vulnerable. WFP will use the disbursement received in the same manner. In addition to abating increased food insecurity, the payout will also help prevent households from resorting to negative coping mechanisms such as selling off productive assets. Commenting on the payout, UN Assistant Secretary-General and ARC Group Director General, Ibrahima Cheikh Diong, reiterated the value of the ARC intervention, “The impact of disaster events goes beyond the immediate socio-economic costs and can reverse development gains that Africa has made. In the absence of instruments such as ARC, disaster events worsen food insecurity and can easily trap vulnerable populations into perpetual cycles of poverty.” He continued, “The effort from the Republic of The Gambia to build the country’s resilience is commendable. The government has continually demonstrated its willingness to fight the scourge of climate change towards protecting the lives and livelihoods of its people.” The ARC facility combines four critical elements of Disaster risk management: early warning, contingency planning, risk pooling and risk transfer to create a powerful value proposition and has proven to be an effective tool to improve a government’s preparedness to manage disaster events. Combined, this offering provides participating member states with access to immediate funds for early and planned responses to support vulnerable populations while strengthening response capacities.
African Risk Capacity Limited awarded top ESG score in the insurance industry
JOHANNESBURG, 16 JANUARY 2023 – African Risk Capacity (ARC) Limited has received the global insurance industry’s top overall environmental, social and governance (ESG) scores. Conducted by Sustainalytics, a leading ESG research, ratings and data firm, the evaluation is a comprehensive assessment of an organisation’s preparedness to meet future risks and opportunities linked to ESG factors, such as climate change, regulatory risk and reputational issues, on a scale of 0 to 100, with 0 indicating the lowest risk. ARC Ltd.’s ESG score was calculated following an independent audit of the company’s business practices and policies. Improving from low risk last year at 10.2 to negligible risk this year at 5.7, Africa’s premier institution for disaster financing edges up two positions to claim top spot in the global insurance sector ESG risk rating. ARC Ltd.’s ESG risk rating is now the lowest among its global peers. ARC Ltd. also retained its leadership position in the Diversified Insurance sector this year, with the lowest exposure among its peers (24.0) and strongest management score (80.3) in terms of how well it manages its ESG programmes, practices and policies. In particular, ARC Ltd. scored negligible risk ratings in terms of Data Privacy and Security, Corporate Governance, Human Capital, Business Ethics and ESG Integration. ARC Ltd. Chief Operations Officer Ange Chitate says the organisation’s top ESG score in the insurance industry is reflective of the leadership role it plays in helping to mitigate and manage the impact of climate change on the African continent. “This independent validation of our commitment to sound ESG practices within the business bolsters our vision to cover the continent’s most vulnerable communities facing the vagaries of climate change events. We achieve this through partnerships with like-minded organisations that share our vision and commitment to sustainable ESG practices,” says Chitate. As a leader in ESG among stakeholders in Africa’s insurance sector, ARC Ltd. is a signatory and driver of the Nairobi Declaration, aimed at committing the continent’s insurers to better integrate ESG into their business models, in alignment with the goals envisioned by the Net- Zero Insurance Alliance. “We are determined to play an active role in promoting the economic, social and environmental sustainability that has become so crucial in the world today. All stakeholders within the African insurance industry – from risk managers to insurers and investors – have a critical part to play in promoting sustainable development on the continent,” says ARC Ltd. CEO Lesley Ndlovu. “We encourage others in the industry to take the initial step of becoming a signatory of the Nairobi Declaration, but also advise that it represents just the first footfall on a path towards numerous different activities and accommodations like those illustrated in our independent ESG risk assessment by Sustainalytics. We can all play our part,” Ndlovu concludes.