Would you tell us about your company?
OKO is a young, for-profit company that aims to have a positive societal impact. We provide automated farm insurance to smallholders in emerging countries. Farmers represent a large majority of the population in many countries, yet they can not predict their future or access basic financial services because their incomes are not secure. With OKO, they can get a personalised quote via SMS, pay by Orange Money, and automatically receive compensation if they have suffered adverse weather.
We have done two field tests in Mali and we now insure 400 farmers.
Why did you choose to participate in the Orange Social Venture Prize (OSVP)?
The prize focuses on social entrepreneurship, which is a good fit for us. Moreover it is organized by Orange, with which we aim to work in several African countries. It was therefore an opportunity for us to make ourselves known by both the public and Orange.
The award has allowed us to meet Orange teams locally and internationally, which now helps us in our discussions for a larger scale launch.
In a nutshell, what does the Social Venture Prize mean for you?
Recognition. This is an opportunity for an entrepreneur and his or her team to showcase their work and to be rewarded for their sacrifices and their ambition.