M-KOPA KENYA'S IMPACT REPORT HIGHLIGHTS MAJOR ADVANCES IN FINANCIAL INCLUSION AND DIGITAL CONNECTIVITY.

BY NJOKI KARANJA 

Nairobi, 24 October 2024 — M-KOPA Kenya, a subsidiary of the UK-based fintech giant M-KOPA, has unveiled its annual Impact Report, "Pathways to Progress," which underscores the company's transformative role in enhancing digital connectivity and financial inclusion for millions of Kenyans. The report was presented at a media roundtable in Nairobi, revealing that M-KOPA has significantly outperformed in its home market, reaching over 3 million customers and generating more than KES 17.2 billion in direct and indirect taxes since its inception.

(L-R) M-KOPA Senior Manager Tax Tabitha Njeri Munyagia, M-KOPA GM Martin Kingori and M-KOPA Director of Communication and External Affairs Reatile Tekateka.

Martin Kingori, General Manager of M-KOPA Kenya, emphasized the company’s commitment to empowering underserved populations through accessible financial services. "We are a purpose-driven company whose mission is not only to connect people digitally but to ensure that financial services are accessible and affordable," he stated.


M-KOPA's impact is evident in several key areas. The company has created over 16,000 jobs across Kenya, including 1,600 full-time positions. In 2023 alone, M-KOPA's local smartphone assembly factory generated 325 new jobs, with plans to expand to 500 by 2025. Additionally, the company employs over 14,000 paid sales agents, aiming to increase this number to 20,000 by 2025.

(L-R) M-KOPA Head of Communication and Legal Evelyn Manasseh, M-KOPA Senior Manager Tax Tabitha Njeri Munyagia, M-KOPA GM Martin Kingori , M-KOPA Director of Communication and External Affairs Reatile Tekateka and M-KOPA External Affairs and senior Data Privacy Counsel Reena Shah.


Moreover, M-KOPA has produced 1.5 million smartphones through its local assembly facility, with a goal of reaching 10 million by 2027. The recently launched M-KOPA X20 smartphone integrates digital financial services, making technology more accessible for users.


The company’s flexible repayment model allows "Every Day Earners," like boda boda riders and market vendors, to make daily micro-payments. This approach helps users build credit histories and unlock new financial opportunities. According to the Impact Report, M-KOPA's initiatives have profoundly affected the quality of life for its customers: 92% reported that financing made technology more affordable, while 80% noted improvements in their overall quality of life. Furthermore, 62% of customers leverage M-KOPA products to generate income.


M-KOPA’s efforts are crucial in addressing pressing challenges in Kenya, including high youth unemployment and the digital divide. By creating job opportunities and expanding access to financial services, M-KOPA is positioning itself as a vital contributor to the country’s economic growth and stability.


With a presence in five markets across Sub-Saharan Africa and over 5 million customers, M-KOPA has disbursed more than $1.5 billion in credit. The report highlights the group's success in transforming lives and driving economic progress throughout the region. As M-KOPA Kenya continues to expand its reach and enhance its offerings, the company remains committed to paving the way for a brighter future for millions of Kenyans, fostering both digital connectivity and financial inclusion.


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