Each year, from May to July, the heavy rainy season takes a serious toll on countries across West Africa, including Senegal, Côte d’Ivoire, Ghana, Benin and many others.
Climate change, rapid urbanisation and insufficient drainage maintenance, torrential rains often lead to flooding, property damage and tragically, loss of life.
In 2024, according to the UN Office for the Coordination of Humanitarian Affairs (OCHA), over 1 500 people lost their lives in floods across West and Central Africa. More than 3.5 million people were affected in the region, with particularly severe economic losses for businesses and professionals.
Preparing for risk is no longer optional. It’s essential for ensuring business continuity.
Prevention and anticipation: Essential Measures
Taking early action is crucial in minimising the impact of flooding. From the construction phase of a factory or warehouse, it is highly recommended to consult specialised firms to assess location-specific risks. A vulnerability study can help identify safer areas or suggest structural modifications that significantly reduce exposure to risk. This preventive approach must be maintained over time.
Recently, our Ghana office assisted a manufacturing company that had previously suffered flood damage. Following an on-site risk assessment, several preventive measures were advised, including storing goods on elevated pallets to protect inventory from rising water. When the rains returned the following year, these changes helped the company avoid major losses.
Preventing damage also means continued insurability. With floods become more frequent, the risk gradually loses its unpredictable nature, which may eventually lead to coverage exclusions or difficulty in obtaining insurance. Proactive risk management is therefore essential in ensuring business continuity.
Insurance solutions to support businesses
To reinforce this strategy, tailored insurance coverage can help effectively mitigate the financial consequences of a loss:
- Comprehensive business insurance: Protects buildings, equipment and stock against floods and related damage.
- Business interruption insurance: Covers financial losses caused by disruptions or temporary shutdowns following a disaster.
- Professional liability insurance: Covers third-party damage linked to your business operations.
New parametric insurance solutions complement these strategies. Based on objective indices such as rainfall levels or water height, they trigger automatic payouts without the need for a traditional claims assessment. This approach provides businesses with a fast, transparent, and tailored response to the realities of climate-related risks.
Protecting your business also means protecting your teams, your clients and your future.
OLEA is here to support you with tailored insurance solutions designed for your industry and your needs.
To learn more, contact our experts: enquiries@olea.africa
Sources: Le Monde, OCHA