Ghana loses an estimated GH¢300 million every year as a result of floods
The United Nations Development Programme (UNDP) has revealed that Ghana loses an estimated GH¢300 million every year as a result of floods and related disasters.
According to the UNDP, the Greater Accra Region alone accounts for about GH¢200 million of these annual losses whenever heavy rains occur.
The revelation was made by Dr Amina Sammo, UNDP’s Coordinator for the Insurance Risk Finance Facility, during Ghana’s commemoration of the 2025 International Day for Disaster Risk Reduction (IDDRR).
The event, organised by the National Disaster Management Organisation (NADMO), was held under the global theme: “Fund Resilience, Not Disasters.”
Dr Sammo underscored that disasters continue to exact a heavy toll on economies across the globe, noting that direct global losses from floods and other disasters are estimated at over US$202 billion annually.
“In Ghana, disasters cost the nation approximately GH¢300 million every year, mainly due to floods, droughts, and related emergencies.
In the Greater Accra region alone, flood losses exceed GH¢200 million annually — funds that could otherwise be used to improve critical infrastructure,” Dr. Sammo stated.
She added that the UNDP is partnering with the Government of Ghana, through NADMO, to develop a Disaster Risk Finance Strategy Framework.
The initiative aims to establish a parametric flood risk insurance solution for the Greater Accra Metropolitan Area (GAMA) and to expand inclusive insurance coverage for small businesses, farmers, and informal sector workers.
Dr Sammo commended NADMO, the Ministry of Finance and the National Insurance Commission for their leadership in promoting disaster risk reduction and financial resilience.
She urged all stakeholders to take this year’s commemoration as a call to action to prioritise investments in disaster preparedness and resilience, rather than focusing solely on recovery after disasters occur.
“We must fund resilience, not disasters. Investing in prevention today safeguards Ghana’s development gains for tomorrow,” she concluded.
