M-KOPA Kenya, the Kenyan arm of UK-based Pan-African fintech M-KOPA, has made a significant impact across Kenya, reaching over 3 million customers and creating more than 16,000 jobs,
Th firm in its 2024 Impact Report, Pathways to Progress, says it has injected Sh17.2 billion in direct and indirect taxes into the economy since its inception.
Kenya has emerged as the Group’s most significant market, underscoring M-KOPA’s role in driving digital connectivity and financial inclusion.
The report details how M-KOPA has established itself as a major player in the Kenyan economy, providing affordable access to smartphones, digital loans, data, and healthcare through partnerships, as well as financing options for electric motorbikes.
With offerings tailored to those typically overlooked by formal financial systems, M-KOPA has brought transformative changes to “Every Day Earners” like boda boda drivers and market vendors who rely on flexible income and often face barriers to credit.
“M-KOPA Kenya is proud to be a driving force in expanding economic opportunities for millions of Kenyans and contributing significantly to the economy. We are committed to connecting people digitally and providing accessible, affordable financial services, paving the way for financial empowerment and sustainable economic growth,” said Martin Kingori, M-KOPA Kenya’s General Manager.
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Since 2020, M-KOPA Kenya has sold 3.3 million smartphones, with over 1.5 million produced locally through its assembly facility.
The company recently launched its first locally branded smartphone, the M-KOPA X20, which integrates digital financial services, transforming the device into a comprehensive financial tool.
M-KOPA aims to produce and sell 10 million smartphones by 2027, bridging Kenya’s digital divide and boosting digital inclusion.
Employment opportunities have surged with M-KOPA’s growth. The company employs 1,600 full-time staff, including 325 new roles at its smartphone assembly plant, primarily for youth and first-time job seekers.
An additional 14,000 paid sales agents are on the ground, with plans to grow that number to 20,000 by 2025.
M-KOPA’s impact extends beyond employment and connectivity; the company has financed over 1,500 e-motorbikes, increasing driver income and reducing emissions on Kenya’s roads.
The 2024 report highlights that 92% of customers find M-KOPA financing makes technology affordable, while 80% say the company’s products have improved their quality of life.
With a presence across five African markets and a credit disbursement of over $1.5 billion, M-KOPA is committed to tackling issues such as youth unemployment and the digital divide, positioning itself as a pivotal contributor to Kenya’s future economic growth.
