M-KOPA has once again secured a spot on the Financial Times’ “Africa’s Fastest Growing Companies” list. This marks its fifth consecutive appearance and placing it among a select group of just five companies to achieve this milestone.
M-KOPA is close to reaching the 10 million customer milestone. The company also sees more than 10,000 new customers joining its platform every day.
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The company saw its revenue frow by over 65% year on year in 2024. This is up from a 42% compound annual growth rate (CAGR) between 2020 and 2023. M-KOPA was first launched in Kenya and has grown and is now operating in five African countries. Nigeria was its fastest market to reach one million customers, and Ghana was the fastest to go from proof of concept to scale.
The company produces more than two million smartphones annually at its Nairobi-based assembly facility.. These devices serve as entry points to a broader ecosystem of digital financial services.
M-KOPA embeds services such as health insurance, digital loans, mobile data and device protection directly into its smartphones through its “More than a Phone” proposition. This model transforms a one-time device purchase into an ongoing financial relationship with customers.
According to the company, 42% of its customers are first-time smartphone users, while 67% gain access to health insurance through the platform.
Its 2025 Impact Survey found that 86% of customers reported an improvement in their standard of living as a result of using M-KOPA’s products and services.
Commenting on the recognition, Jesse Moore, CEO and co-founder of M-KOPA, said the milestone reflects more than just rapid growth.
“Five consecutive years on this list reflects something more than growth; it reflects a fundamentally different approach to financing progress for everyday earners. We exist to make financial services accessible to the microentrepreneurs driving Africa’s economy.”
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