Ghana signs financing contract for risk analytics support

Under the Global Risk Modelling Alliance (GRMA) programme, the Ministry of Finance for the Republic of Ghana has signed a financing contract with a consortium led by Marsh McLennan. This agreement represents an important step in supporting Ghana’s ongoing efforts to enhance its climate risk management capabilities. By complementing the country’s existing expertise and tools, this collaboration aims to provide advanced methodologies and strengthen resilience against climate-related hazards.

Ghana faces increasing exposure to climate and disaster risks, particularly from floods, droughts, and marine submersion. Rapid urbanisation, coastal erosion, and climate change are intensifying these hazards, with wide-ranging impacts across agriculture, infrastructure, and businesses. These challenges place growing pressure on livelihoods, food systems, and public services, underscoring the need for robust, localised, and transparent risk analytics.

In order to enhance the resilience of vulnerable populations against the impact of extreme weather events, Ghana’s Ministry of Finance has signed a grant agreement with a consortium led by March McLennan for risk analytical support under the Global Risk Modelling Alliance (GRMA), a partnership harnessing private and public risk expertise. 

Following engagement with national stakeholders, GRMA and Marsh McLennan will be working closely with technical experts from government institutions, academia, and the private sector to design and implement a programme tailored to Ghana’s priority risk areas.

The GRMA programme in Ghana focuses on three core areas:

1. Agricultural Risk Assessment – Analysis of drought, flooding, and pest risks in Northern Ghana, with a focus on key crops such as maize, rice, soybean, and sorghum, to better understand threats to food production. 
2. Urban Flood Risk Assessment – Assessment of river and surface flooding in major cities including Kumasi, Tamale, Sekondi-Takoradi, and Cape Coast, with particular attention to densely populated and low-lying areas. 
3. Coastal Flood Risk Assessment – Evaluation of coastal flooding in the Volta Delta, including Keta, Anloga, and Ketu, considering sea level rise, erosion, and land subsidence and their impacts on communities and infrastructure.

A central component of the GRMA programme is the provision of capability development for national experts across government and academia promoting the use of open-source modelling tools to generate, interpret, and apply risk data. This approach ensures long-term sustainability and local ownership of risk analytics in Ghana.

The programme is expected to result in the development of open-access risk data, maps, and models covering priority hazards and regions. It will also equip numerous national experts with practical experience in hazard modelling and risk analytics, while producing technical guides and tools for continued use.

To mark the start of the implementation phase, a three-day workshop was held in Accra, bringing together local and international stakeholders to align priorities, share insights, and advance the programme collaboratively. The event features a ceremonial signing, underscoring the transition from planning to delivery. This phase of the programme is led by Marsh, alongside consortium partners JBA, the Centre for Ecology & Hydrology, and Ghana Re, combining global expertise with strong local knowledge.

By strengthening risk data and modelling, enhancing institutional capacity, and fostering collaboration across sectors, the GRMA programme will support Ghana in translating risk insights into action. The initiative aims to inform resilient planning, improve disaster risk management, and enable the development of financial solutions that protect vulnerable communities and support long-term adaptation.

“It is a genuine pleasure to see  the significant work of Ghana’s GRMA programme begin, which will enable the government to better understand and manage its risks. I am confident that the consortium led by Marsh will deliver on the requirements defined by the Ministry of Finance  and its partner institutions,” said Nick Moody, private sector Co-Lead of the GRMA. “This work supports the vision of the GRMA’s founders the Insurance Development Forum, CVFV20 and the German government to strengthen climate resilience, sharing insurance-grade risk modelling capabilities with the nations that need it the most.  For the sake of everyone living and working in Ghana’s cities and on the land, I wish this important work great success.”

Callum Ellis, Director and Head of Climate Resilience, Marsh UK, added “This project marks a pivotal step in Ghana’s journey towards a climate-resilient future, offering a unique opportunity to bring together Ghanaian experts and international leading climate practitioners here in Accra. We are proud to support Ghana’s Ministry of Finance in this important endeavour and look forward to strengthening the disaster risk management tools available to stakeholders across the country.”