M-KOPA, the fintech company that provides digital credit to underbanked customers, has announced the release of its 2021 Impact Report.
The report presents findings on M-KOPA’s smartphone, solar and cash loan customers across Kenya, Uganda, Nigeria and Ghana. While much of the impact has been realised in East Africa, M-KOPA recorded rapid growth following its expansion into West Africa over 2020/21.
The key highlights of M-KOPA’s social and environmental impact at the end of 2021 include:
- $600 million of credit unlocked for customers.
- 4.5 million lives improved with life-changing products.
- Over 1 million solar home systems sold, avoiding 2 million tonnes of CO2 emissions.
- Over 1 million individuals accessing smartphones, enabling access to information and earning opportunities online.
- 86% of customers report that the quality of their lives has improved because of M-KOPA.
The fintech company’s full-time staff more than doubled from 2019 to 2021, with 944 additional jobs created. Additionally, M-KOPA sales agents, who reach community members across the company’s markets, quadrupled to 10,000 agents between 2019 and 2021.
Founded in 2011, M-KOPA offers millions of people access to products and services, such as smartphones, solar lighting, solar-powered appliances, cash loans and health insurance.
In March 2020, the platform reached a milestone of 2 million customers served. The company intends to increase the number of customers on its platform by 10 times over the next five years.
The M-KOPA’s 2021 Impact Report is available for download here.