Insurance payouts expected for some Southern African drought hit countries

A drought driven by the El Nino weather pattern is likely to trigger insurance payouts to four southern African countries that took out cover with an agency of the African Union. Bloomberg reports that Malawi, Zambia, Zimbabwe, and Mozambique will receive payments at the end of the harvesting season, according to current projections, African Risk Capacity said in a statement but the payments are unlikely to meet regional needs.