M-KOPA, a leading pan-African fintech company, has empowered over 7 million customers across five countries, facilitating more than $2 billion in credit since its inception in 2010, according to the company’s latest report.
What started 15 years ago as a venture selling pay-as-you-go solar energy kits in Kenya has evolved into a dynamic fintech platform. Today, M-KOPA provides affordable smartphones, loans, insurance, and even electric motorcycles to “Every Day Earners” – the informal sector workers such as small-scale vendors, drivers, educators, and craftsmen who form the backbone of Africa’s informal economy.
For many individuals, the journey to financial inclusion begins with something often overlooked in developed countries: owning a smartphone. In sub-Saharan Africa, 77% of adults lack access to a smartphone, primarily due to cost barriers. According to GSMA, the price of an entry-level smartphone can equal nearly an entire month’s income for low-wage earners.
M-KOPA’s innovative financing approach dismantles this barrier. By requiring a modest upfront payment and offering flexible daily installments, customers can acquire devices that would otherwise be out of reach.
In 2025 alone, M-KOPA sold 1.3 million smartphones, pushing the total to 6.4 million since 2020. Impressively, 42% of these buyers were first-time smartphone owners, meaning approximately 2.5 million people gained their initial access to the internet and digital economy through M-KOPA’s platform.
Consider Lydia, a Kenyan food stall owner. Prior to M-KOPA, she earned roughly $5 daily selling porridge and used a basic $25 feature phone. Now, equipped with a smartphone, Lydia connects with customers more effectively and accesses services like data plans, digital credit, and health insurance.
These resources enabled her to grow her modest business into a flourishing kiosk, tripling her daily earnings and creating employment opportunities within her community.
The true breakthrough lies not only in distributing devices but in integrating them with financial services. M-KOPA transforms a simple gadget into a gateway for building credit histories and accessing financial products typically reserved for formal sectors.
- 38% of users indicated their M-KOPA loan was their first formal credit experience (with women accounting for 43%).
- 67% reported that their M-KOPA health insurance was their inaugural insurance policy.
- 55% accessed a financial product for the first time through M-KOPA.
These figures are particularly significant in a region where 88% of adults have never engaged with formal lending institutions and remain uninsured. Women face even greater challenges.
The report highlights that 81% of women would have been unable to afford a smartphone without M-KOPA, compared to 78% of men. Women now represent 40% of active customers and 45% of the company’s sales agents.
Take Suliyat, a rice vendor in Nigeria. Despite her efforts to save, the upfront cost of a smartphone remained out of reach. When she learned she could secure a device with just a $26 deposit through M-KOPA, she took the chance. The savings she had accumulated were reinvested into her rice business.
Later, her husband obtained a digital loan, inspiring her to do the same. The additional funds helped cover school fees and household expenses. Today, Suliyat leverages her smartphone to promote her food business on TikTok and manage her sales team. “My customers now take me more seriously,” she shares.
M-KOPA’s Influence on Over 4,000 Customers
The impact extends beyond mere access. A 2025 survey involving more than 4,000 customers across five countries reveals compelling outcomes:
- 86% reported an improved quality of life thanks to M-KOPA (up from 79% in 2024).
- 70% use their M-KOPA product to generate income (up from 62% in 2024).
- 59% say their earnings have increased.
- 65% feel more capable of achieving household financial goals.
For many, this transition from financial hardship to stability is life-changing. Nearly half of respondents described themselves as financially strained before joining M-KOPA, whereas now over 80% report improved ability to support themselves and their families.
Driving this success is a vast network of 35,000 sales agents, many under 35 years old, often embarking on their first formal employment. These agents serve as vital connectors between customers and the financial system. Among them, 92% have experienced income growth since joining M-KOPA.
The company also employs 2,300 staff members, nearly half of whom are women, and delivered 53,000 hours of training in 2025 alone. Its Nairobi-based smartphone assembly facility has produced 2 million devices since 2023, creating jobs and reducing costs.
Transforming Devices into Empowerment
At its essence, M-KOPA transcends the sale of phones or electric bikes. It redefines access for the 62% of sub-Saharan Africans under 35, many of whom work informally, earn less than $5.50 daily, and lack formal documentation such as payslips, collateral, or credit records.
By tailoring financial products to fit the realities of daily earnings-flexible payments without penalties-M-KOPA converts exclusion into opportunity. For some, this means timely payment of school fees; for others, scaling a microenterprise. For millions, it simply restores the dignity of being connected.
As one user expressed in the report: “The common sentiment is that paying for a phone daily enhances life, fosters progress, and unlocks experiences that would otherwise remain out of reach.“
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