M-KOPA, a leading fintech company in Africa, has announced a significant milestone: it now serves over 3 million active customers. The company, which specializes in providing credit and financial services to the continent’s “Every Day Earners,” credits its success to its mission of improving lives. A new impact report from the company reveals that 9 out of 10 active customers say M-KOPA has enhanced their quality of life.
The milestone places M-KOPA on track to achieve its ambitious goal of serving 10 million customers by the end of the decade. Since its launch in 2011, the company has provided more than $2 billion in credit to over 7 million micro-entrepreneurs who are typically excluded from traditional banking services.
M-KOPA’s business model is built around serving Africa’s vast informal sector, where most workers earn their income daily and lack the formal credit history that banks require. By providing affordable, asset-based financing, the company has become a vital gateway to financial services.
According to the report, 55% of customers gained access to their first formal financial product through the platform, while 67% accessed health insurance for the first time. The company has also made an impact on digital access, helping 2.5 million people acquire their first smartphone since 2020. This is especially true for women; a staggering 81% of female customers stated they couldn’t have afforded a smartphone without M-KOPA.
The company’s “More than a Phone” platform has become an engine for economic empowerment, with 70% of customers using their devices to generate income. This has resulted in a direct impact on livelihoods, as 59% of customers report higher earnings since owning an M-KOPA smartphone.
M-KOPA has financed over 4,000 electric motorbikes and facilitated the sale of more than 127,700 “circular economy” products, which has helped to avoid 46,000 tons of CO₂ emissions. M-KOPA’s business also supports local employment, with over 35,000 agents—45% of whom are women, working across its markets in Kenya, Uganda, Ghana, Nigeria, and South Africa.
It has a workforce of over 2,000 full-time staff and 35,000 sales agents.
Read the M-KOPA impact report HERE.