M-KOPA surpasses 3 million active customers, unlocking $2 billion in credit for the unbanked
M-KOPA, the fintech firm known for its pay-as-you-go financing for everything from smartphones to electric motorbikes, has hit a major milestone: 3 million..
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M-KOPA, a fintech firm providing pay-as-you-go financing, has reached a significant milestone with 3 million active daily customers, having deployed over $2 billion in credit to underserved micro-entrepreneurs and gig workers across Africa.
- 9 out of 10 customers report an improved quality of life due to M-KOPA's services, up from 8 out of 10 previously.
- The company's model caters to "Every Day Earners" in Kenya, Uganda, Ghana, Nigeria, and South Africa, allowing access to essential items like smartphones.
- Since 2020, M-KOPA has enabled 2.5 million people to acquire their first smartphone, with 81% of female customers stating they couldn't afford one without M-KOPA's financing.
- 70% of customers use their M-KOPA financed smartphone to generate income, with 59% reporting increased earnings.
- In 2024, M-KOPA spent $236 million on local procurement and works with 35,000 sales agents, aiming for 10 million active customers by the end of the decade.
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Firms Expand EV and Smartphone Financing for Underserved Africans - September 2025
M-KOPA, a fintech firm using pay-as-you-go financing, has surpassed 3 million active daily customers and deployed over $2 billion in credit to micro-entrepreneurs and gig workers across Africa. In its 2024 Sustainability Report, Watu announced it had financed 2,000 EVs and 1.4 million smartphones as part of its ESG initiatives. Meanwhile, Kenya's ARC Ride has secured a $10 million debt financing commitment from Mirova, an affiliate of Natixis Investment Managers. This funding is designated to deploy 600 battery-swapping cabinets and 25,000 batteries, significantly boosting Kenya's electric vehicle infrastructure.
