The Rwanda Ministry of Finance and Economic Planning is assessing a parametric insurance scheme to protect mining and quarrying workers from income losses when extreme rainfall makes sites unsafe and halts operations. The proposed coverage would complement existing safety and social protection measures, targeting workers such as casual and daily paid laborers who earn only when they work. Initially covering the March to May rainy season, the scheme would automatically trigger equal payments to enrolled workers at affected sites when independently measured rainfall exceeds an agreed threshold. Meteo Rwanda data would be cross-checked against satellite records, with indicative payments of FRW 15,000 to FRW 25,000 per event paid directly into mobile money, bank or savings and credit cooperative accounts, ideally within two weeks. Workers and mining companies or cooperatives would share premiums. A supervised pilot, potentially through the National Bank of Rwanda’s regulatory sandbox and with implementation support from the Rwanda Mines, Petroleum and Gas Board, is under consideration before any broader rollout.
Rwanda Ministry of Finance and Economic Planning assesses parametric insurance for mining workers
The Rwanda Ministry of Finance and Economic Planning is assessing parametric insurance to compensate mining workers when excessive rainfall suspends operations. The proposed scheme would automatically pay enrolled workers FRW 15,000 to FRW 25,000 per event, with a supervised pilot under consideration before wider rollout.