Brokers could turn to agriculture for growth
29 June 2021
South Africa’s agriculture sector could prove to be a lucrative hunting ground for local risk managers, non-life insurance brokers and insurance technology partners. Farming is beset by challenges; but also presents countless opportunities as a shrinking band of commercial farming units leverage innovation and technology to contribute more and more to South Africa’s GDP and food security. Agriculture tipped the scales at almost 3% of the country’s 2020 GDP, growing to 18% when downstream industries linked to agriculture are factored in. Overall, the sector employs around 885000 people and contributes approximately 10% to our all-important export basket.