M-KOPA Posts First Ever Profit, Bets on E-Mobility for Next Growth Phase
M-KOPA Holdings Ltd. has reported its first-ever annual profit, marking a major milestone for one of Africa’s fastest-growing consumer lenders..
✨ Key Highlights
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.
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Naivas Appoints New CEO, M-KOPA Posts First Profit & KUCCPS Seeks New Leader - October 2025
Naivas Supermarkets, Kenya’s largest retail chain, has appointed Andreas von Paleske as its new Chief Executive Officer, the first non-family executive to lead the company. He succeeds founder David Kimani, who is stepping down after 35 years. In another corporate development, M-KOPA Holdings Ltd., a prominent African consumer lender, announced its first-ever annual profit of US$9.2 million in 2024. This marks a significant turnaround from a US$20.6 million loss the previous year. Additionally, the Kenya Universities and Colleges Central Placement Service (KUCCPS) has started a search for a new Chief Executive Officer as the term for Agnes Mercy Wahome concludes next year, with applications open until October 28, 2025.
