In the dynamic world of African fintech, few companies shine as brightly as M-KOPA.

For the fourth consecutive year, this pan-African powerhouse has secured a spot on the Financial Times’ “Africa’s Fastest Growing Companies” rankings, a testament to its relentless growth, innovative approach, and unwavering commitment to transforming lives.

With a remarkable 42% compound annual growth rate (CAGR) from 2020 to 2023 and an even more impressive 65% year-over-year revenue growth in 2024, M-KOPA is on track to surpass half a billion USD in annual revenue in 2025. So, what’s the secret behind M-KOPA’s exponential rise and consistent recognition?

A Mission to Empower Everyday Earners

At its core, M-KOPA is about financing progress for the unbanked, those everyday earners who are often overlooked by traditional financial systems.

With over 1 billion adults in Africa expected to fall into this category by 2040, M-KOPA’s mission is both ambitious and timely.

The company’s innovative model starts with providing affordable smartphones to non-salaried workers, many of whom are accessing the internet for the first time.

More than half of M-KOPA’s customers experience this digital milestone, opening doors to education, entrepreneurship, and connectivity.

But M-KOPA doesn’t stop at hardware. Through its smart money platform, the company delivers tailored financial services directly via these smartphones, including millions of affordable credit, insurance, and subscription products.

This holistic approach has empowered over 6 million customers across Nigeria, Ghana, Kenya, South Africa, and Uganda, creating a ripple effect of opportunity.

The impact is so significant that M-KOPA’s outcomes are independently verified by third-party experts, with results transparently published annually on their website.

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Scaling with Purpose and Profit

M-KOPA’s growth isn’t just about numbers; it’s about balancing profitability with purpose. The company’s 2024 performance, with 65% year-over-year revenue growth, demonstrates its ability to scale rapidly while maintaining sound financial fundamentals.

In 2025, M-KOPA is trending toward a monumental milestone: surpassing $500 million in annual revenue.

This trajectory is fuelled by a customer acquisition rate that’s nothing short of astounding, onboarding a new customer every 9 seconds and processing 15 payments per second thanks to Africa’s robust digital payment infrastructure.

This high-frequency transaction data gives M-KOPA a unique edge: a deep, real-time understanding of the financial needs of everyday earners.

As Jesse Moore, M-KOPA’s CEO and Co-Founder, puts it,

“Our growth continues to accelerate… Thanks to Africa’s digital payment rails, we now receive 15 payments per second, which in turn creates a unique and deep dataset to understand the financial needs of everyday earners. We are still in the early stages of scaling, with an addressable market that will surpass 1 billion people in Africa by 2040.”

Innovation Beyond Fintech

M-KOPA’s impact extends beyond financial services into manufacturing and job creation. In 2023, the company opened East Africa’s first and largest smartphone assembly factory, a game-changer for the region.

This facility now produces over 1 million smartphones annually and has created more than 300 new jobs, boosting local economies.

In 2024, M-KOPA took it a step further by launching its own range of branded smartphones, which now account for over 20% of all smartphones sold in Kenya.

This move not only strengthens M-KOPA’s brand but also ensures customers have access to high-quality, affordable devices tailored to their needs.

A Pan-African Powerhouse

While Kenya remains a key market, M-KOPA’s growth strategy is distinctly pan-African. In 2025, the company achieved a significant milestone: acquiring more customers outside Kenya than within.

Rapid expansion in Nigeria, Ghana, Uganda, and South Africa reflects M-KOPA’s ability to adapt its model to diverse markets. By leveraging local insights and digital infrastructure, M-KOPA is building a scalable, sustainable presence across the continent.

This pan-African focus is a key driver of M-KOPA’s success. By understanding the unique needs of each market, M-KOPA tailors its services to meet specific regional demands, enhancing customer satisfaction and fostering loyalty.

This approach allows M-KOPA to scale efficiently while maintaining strong relationships with its customers, which is essential for sustained growth in diverse markets.

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By combining local insights with a scalable business model, M-KOPA ensures that its services are both accessible and relevant, which is crucial for building trust and driving adoption in new markets.

This strategy has enabled M-KOPA to acquire more customers outside Kenya than within in 2025, marking a significant milestone in its expansion journey.

By leveraging digital infrastructure, M-KOPA ensures that its services are accessible even in remote areas, further broadening its reach.

This combination of local adaptation and digital innovation has made M-KOPA a leader in the fintech space, setting a benchmark for how to scale effectively in emerging markets.

A Blueprint for the Future

M-KOPA’s fourth consecutive appearance on the Financial Times list is more than a recognition of its growth; it’s a celebration of a business model that proves profitability and social impact can go hand in hand.

By financing progress for the unbanked, creating jobs, and driving innovation, M-KOPA is not just building a business; it’s building a better future for millions across Africa.

Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.