Aquila and Gensec offer weather derivatives in South Africa

Gensec will offer a number of weather derivatives pricing and analytical tools designed by Aquila, and offer access to historical data from weather stations throughout Africa.

Gensec’s executive director Mark Murning said the bank will focus its marketing on companies in the agriculture, construction, energy, food and beverage, insurance and leisure industries. The bank has seen some interest from South African companies, but they are at the very early stages of introducing weather hedging programmes.

Kansas City-based Aquila has launched similar alliances with companies in Australia, Japan and Europe. This is the company’s first involvement in Africa.

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