M-KOPA has been selected as Financial Times’ “Africa’s Fastest Growing Companies”. This is the fourth consecutive appearance for M-KOPA on the prestigious annual ranking.
M-KOPA reported a compound annual growth rate (CAGR) of 42% between 2020 and 2023. In 2024, the company saw over 65% year-over-year revenue growth. The company is on track to surpass $500 million in annual revenue in 2025. All this, while maintaining profitability.
“We are thrilled to make the FT Fastest Growing Companies in Africa list for the 4th year in a row,” said Jesse Moore, CEO and Co-Founder of M-KOPA. “Our growth continues to accelerate, and we now onboard a new customer to M-KOPA every 9 seconds.”
Driving Impact at Scale
M-KOPA’s mission centers on a powerful idea: empowering non-salaried, everyday earners with tools to access the digital economy. This segment, often referred to as the “unbanked,” represents a vast and underserved market—expected to exceed 1 billion adults across Africa by 2040.
Through its innovative “smart money” platform, M-KOPA enables customers to finance smartphones—often providing internet access for the very first time—and later unlock affordable services like credit, insurance, and subscription-based products, directly through the device.
The company’s model proves that impact-driven businesses in Africa don’t need to sacrifice profitability. With operations in Kenya, Nigeria, Ghana, Uganda, and South Africa, M-KOPA’s growth strategy is deeply rooted in financial inclusion.
Local Manufacturing, Global Recognition
Beyond digital innovation, M-KOPA has been investing in hardware too. In 2023, the company launched East Africa’s largest smartphone assembly factory, producing over 1 million units annually and creating more than 300 jobs. In 2024, it introduced its own branded smartphone line, which now makes up over 20% of all smartphones sold in Kenya.
This expansion has helped M-KOPA go truly continental. As of 2025, the company is now onboarding more customers outside Kenya than within it, reflecting growing adoption in new markets.
“Thanks to Africa’s digital payment rails, we now receive 15 payments per second,” Moore added. “This creates a unique dataset that helps us deeply understand and respond to the financial needs of our users.”
The company’s social impact is independently audited and published annually.
Also Read: M-Kopa Sells 1 Million Smartphones in 2024, But Are Customers Overpaying?
