Pan-African fintech company M-KOPA has been named on the Financial Times’ list of Africa’s Fastest Growing Companies for the fifth consecutive year, making it one of only five businesses to appear on the ranking every year since its launch.
The company, which operates across five African countries, said it is approaching the milestone of 10 million customers and is currently onboarding more than 10,000 new users daily. M-KOPA recorded revenue growth of more than 65 per cent year-on-year in 2024, building on a 42 per cent compound annual growth rate between 2020 and 2023. The company said its growth has remained profitable through 2025 and into 2026.
Originally launched in Kenya, M-KOPA has expanded into a multi-market fintech business across Africa. Nigeria has emerged as the company’s fastest market to reach one million customers, while Ghana recorded the quickest transition from proof of concept to scale.
The company attributes much of its expansion to its vertically integrated business model. From its Nairobi-based assembly facility, which manufactures more than two million smartphones annually, to the financial services embedded within its devices, M-KOPA manages the full customer value chain.
Its “More than a Phone” offering integrates digital financial services such as health insurance, digital loans, mobile data and device protection into smartphone ownership, enabling customers to access broader financial solutions beyond the initial device purchase.
M-KOPA said the impact of its services continues to grow across its markets. According to the company, 42 per cent of customers are first-time smartphone owners, while 67 per cent gain access to health insurance they would otherwise be unable to afford. Findings from its 2025 Impact Survey showed that 86 per cent of customers agreed or strongly agreed that M-KOPA’s products and services had improved their standard of living.
The company noted that Africa’s rapidly growing population presents a significant long-term opportunity, with more than one billion non-salaried and economically active adults projected across the continent by 2040.
Commenting on the latest ranking, Jesse Moore, CEO and Co-founder of M-KOPA, said: “Five consecutive years on this list reflects something more than growth; it reflects a fundamentally different approach to financing progress for every day earners. We exist to make financial services accessible to the microentrepreneurs driving Africa's economy. As a company committed to supporting Africa’s economic growth, the more we close that gap, the stronger we all become.”
Beyond individual customers, M-KOPA said its operations continue to support local economies and supply chains. In 2024, the company generated more than $230 million in regional procurement spending and contributed $45 million in taxes across its markets.
No comments:
Post a Comment