M-KOPA Holdings Ltd., a prominent African consumer lender, has announced its first-ever annual profit, achieving US$9.2 million in 2024 after a US$20.6 million loss the previous year. This significant milestone was driven by booming credit-financed sales of smartphones and solar devices, with the company now setting its sights on e-mobility for future growth.

• M-KOPA's revenue surged by 66% to US$253.5 million, while its customer base reached seven million, having disbursed over US$2 billion in cumulative credit.
• The Nairobi-based fintech increased its risk-adjusted gross profit by 80% to US$173 million and operating income fivefold to US$51 million.
• The company is expanding into electric mobility, having financed over 4,000 electric motorbikes and collaborating with manufacturers like Ampersand, Spiro, and Roam, and fleet operator Bolt.