Mkopa-story-Digital-times-africa.jpg

M-KOPA Unlocks $600 Million for Underbanked Customers in Africa

News

Sept. 14, 2022, 2:13 p.m.

M-KOPA, the fintech platform that provides digital credit to underbanked customers, today announced the release of its 2021 Impact Report

As a mission-driven company, M-KOPA’s tremendous growth is rooted in its commitment to both commercial and social goals. 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 realized in East Africa, M-KOPA recorded rapid growth following its expansion into West Africa over 2020/21.

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 access high-quality 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.

Do you have an article that can be relevant to the African Tech space?

Submit your news stories, articles or press releases to editor@digitaltimes.africa


Or

Despite the whirlwinds of economic uncertainty caused by COVID-19, throughout 2020 and 2021 M-KOPA defied global trends and created significant high-quality employment. 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 actively reach community members across the company’s core markets, quadrupled to 10,000 agents between 2019 and 2021.

Founded in 2011, M-KOPA offers millions of people access to life-enhancing products and services, such as smartphones, solar lighting, solar-powered appliances, cash loans and health insurance by unlocking affordable credit. 

In March 2020, the platform reached a milestone of 2 million customers served, and with impact and inclusion remaining core to its mission, M-KOPA strives to increase the number of customers on its platform by 10x over the next five years. 

tag: Africa, financial inclusion, Fintech, Financial Services, M-KOPA,

africamoneydefisummit.com Source

ADVERTISEMENT