M-KOPA Named One of Africa’s Fastest Growing Companies
In a significant recognition of its growth and impact, M-KOPA, a Pan-African fintech company, has been named among Africa’s fastest-growing companies for the fourth consecutive year. This achievement is highlighted by its consistent inclusion in the Financial Times’ list of Africa’s Fastest Growing Companies.
M-KOPA was founded with a mission to deliver life-changing products to unbanked everyday earners. The company has achieved a remarkable 42% compound annual growth rate (CAGR) from 2020 to 2023. In 2024, M-KOPA saw its revenue soar by an impressive 65% year-over-year, with projections indicating that it is on track to surpass $500 million in annual revenue by 2025.
M-KOPA’s business model is centered around providing affordable, financed smartphones to low-income earners, many of whom are coming online for the first time. The company offers a range of mobile financial services through these devices, including credit, insurance, and subscription products. These services are tailored for non-salaried earners, a segment expected to represent over 1 billion adults in Africa by 2040.
The company’s data-driven approach has been a key differentiator. Thanks to its digital payments infrastructure, M-KOPA processes around 15 payments per second, providing real-time insights into the spending behaviors and credit needs of its growing customer base. This has enabled M-KOPA to onboard a new customer every nine seconds.
M-KOPA’s growth is not limited to Kenya; it now acquires more customers outside of Kenya than within. The company is expanding across Africa, with significant growth in countries like Nigeria, Ghana, Uganda, and South Africa. This expansion highlights its commitment to increasing access to financial tools for underserved populations across the continent.
Team V.3-UAE
