Zimbabwe to Get Half of $60 Million Drought Insurance Pay Out

Zimbabwe will get over half of an expected $60 million insurance pay out meant for four African nations as it reels from the impact of El Niño-induced drought that’s already slashed corn output and led to a state of disaster being declared.

Earlier this month, the African Union’s climate insurance agency said it will pay out at least $60 million to Malawi, Zambia, Zimbabwe and Mozambique to help them offset the impact of the weather catastrophe. The money will equal a fraction of what it needed to alleviate the impact.

“Zimbabwe will get $32 million from insurance pay out in ...