Based in Israel

OKO Finance Ltd

A For-profit with social mission

Organization Details

OKO is an impact Start-up company that creates affordable crop insurance products for smallholder farmers in Africa and distributes them via mobile. The OKO insurance products are automated and immediately indemnify farmers when they are affected by adverse weather thanks to the constant monitoring of weather conditions via satellite data. We launched our service in Mali in 2020 and we currently cover more than 10,000 Malian farmers against floods and droughts. Insured farmers benefit from income security, which also gives them access to other financial tools such as agricultural loans. OKO is positioned as an insurance broker and partners with insurance companies. OKO also partners with local mobile operators to be accessible to anyone with a phone without requiring internet connectivity.

Impact Story

OKO addresses both Financial Inclusion and Climate Resilience.

Financial Inclusion: OKO designs affordable insurance products for populations previously unserved. OKO also creates tools and trains a team to make insurance accessible universally. Finally, OKO's insurance also facilitates access to micro-loans as it reduces the risk of non-repayment. To measure this impact we are measuring the percentage of our customers who access insurance or micro-loans for the first time.

Climate Resilience: OKO's insurance helps farmers re-start their business after having experienced adverse weather conditions. It stabilises farmers' income in spite of un-predictable weather patterns. To measure our impact, we look at the money we redistribute in claims to farmers. In the longer term, we will also look at the "progress out of poverty" for insured farmers vs. non-insured farmers.