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M-KOPA’s $600m Credit for the Underbanked in Africa

As a mission-driven company, M-KOPA’s tremendous growth is rooted in 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 realised 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 accessing 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.

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.  M-KOPA’s 2021 Impact Report is available for download here

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About M-KOPA

Founded in 2011, M-KOPA is a fintech platform that provides digital credit to underbanked consumers by combining digital payments with Internet of Things technology. M-KOPA’s platform has provided over $600 million in credit enabling 2 million customers to access smartphones, solar lighting, solar-powered appliances and digital credit.

Report Methodology

  • All impact estimates are based on the principles outlined in GOGLA’s Standardized Impact Metrics for the Off-Grid Solar Energy Sector, aligned with the IRIS Metrics.
  • All impact estimates are calculated based on the distribution of M-KOPA products sold directly across East and West Africa, with underlying variables based on customer surveys from Kenya, Uganda and Nigeria and analytics gathered through M-KOPA’s business intelligence platform.
  • The report draws on an independent impact assessment carried out by 60 Decibels, a leading impact measurement company. 

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