The Impact of Increasing Water-Related Losses on Farmers

By Hanjo Fourie, Business Head: Agri Underwriting at Santam

Fishing and farming are closely intertwined with the latter (the agriculture sector) integral to the South African economy, contributing around R400 billion to GDP each year, supporting about 870000 jobs, and weighing in with USD13 billion in export revenue. Additionally, farming plays a critical role in supporting South Africa’s food security – a growing risk globally. But unfortunately, the sector is more prone to the systemic risk of climate change, and specifically water related losses, than any other sector.