1. Alliance for Financial Inclusion (AFI)
The Alliance for Financial Inclusion (AFI) is the world s leading organization on financial inclusion policy and regulation. Currently, 100 member institutions make up the AFI network including central banks, finance ministries, and other financial policymaking or regulatory institutions more than 88 developing countries and emerging markets. AFI empowers policymakers to increase the access and usage of quality financial services for the underserved through sustainable and inclusive policies and the effective use of digital technologies.
Policies developed and implemented by the members of the Alliance contribute to a range of the
Sustainable Development Goals. By setting their own agenda, AFI members harness the power of peer learning to develop practical and tested policy reforms that enhance financial inclusion, with strategic support from both public and private sector partners.
KAMPALA, Uganda, April 22, 2021 -/African Media Agency(AMA)/- OKO, an Insurtech start-up that provides inclusive agricultural insurance to secure farmers’ income across Africa, has closed a Seed investment of $1.2 million. The round was led by by Newfund and ResiliAnce. Mercy Corps Venture, Techstars, ImpactAssets and RaSa also participated in the round.
The start-up which currently operates in Mali and Uganda uses satellite data and mobile payments to create automated insurance products for farmers whose fields are affected adversely by weather events primarily droughts and floods. With the new funding, OKO aims to strengthen its presence in Mali and Uganda and expand its offerings to more African markets, starting with Ivory Coast.
Insurtech start-up OKO raises $1 2 million to bring innovative insurance to smallholder farmers across Africa almasalla.travel - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from almasalla.travel Daily Mail and Mail on Sunday newspapers.
OKO Raises $1.2M Seed Led By Newfund and ResiliAnce
OKO Raises $1.2M Seed Led By Newfund and ResiliAnce
OKO has closed a seed investment of USD$1.2 million, and will use part of the funding to strengthen its presence in Mali and Uganda as well as expand its operations to more markets across Africa.
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OKO team poses for a group photo. OKO secures farmers’ income in emerging countries using automated insurance solutions. (COURTESY PHOTO/OKO)
OKO has closed a seed investment of USD$1.2 million (approx. UGX4.4 billion) in a funding-round led by by Newfund and ResiliAnce. Other investors including; Mercy Corps Venture, Techstars, ImpactAssets, and RaSa also participated in the round.
The Alliance for Financial Inclusion:
The Alliance for Financial Inclusion (AFI) is the world’s leading organization on financial inclusion policy and regulation. Currently, 100 member institutions make up the AFI network including central banks, ministries of finance and other financial policymaking or regulatory institutions from 88 developing countries and emerging markets. AFI empowers policymakers to increase the access and usage of quality financial services for the underserved through sustainable and inclusive policies and an effective use of digital technologies.
Policies developed and implemented by the members of the Alliance contribute to a range of the Sustainable Development Goals. By setting their own agenda, AFI members harness the power of peer learning to develop practical and tested policy reforms that enhance financial inclusion, with strategic support from both public and private sector partners.