M-KOPA has once again earned a spot on the list of Time Inc.’s Most Influential Companies for the year 2024, marking the second consecutive recognition for the company.

This prestigious acknowledgment serves as a testament to M-KOPA’s extensive impact on advancing financial inclusion across Africa, where it has successfully catered to over 4 million customers.

Established in 2011, M-KOPA utilises the power of data to deliver digital financial services to underserved consumers, offering a range of products such as smartphones, electric motorcycles, and solar power systems through a pay-as-you-go model.

Operating in key African markets including Kenya, Uganda, Nigeria, Ghana, and South Africa, M-KOPA’s innovative approach has effectively connected millions of individuals to digital and financial opportunities.

Jesse Moore, CEO of M-KOPA, reiterated the company’s unwavering commitment to making a meaningful impact through its diverse range of products and services.

He emphasized the substantial demand for affordable mobile phones that far surpasses what any single company can provide. To address this, M-KOPA has been boosting its supply.

The strategic recognition by TIME underscores the extraordinary contributions made by companies, with criteria encompassing factors such as impact, innovation, ambition, and success.

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In a significant move, the company established Kenya’s first smartphone assembly factory in collaboration with Nokia manufacturer HMD Global, generating over 300 job opportunities and producing more than 1 million phones.

This aligns with M-KOPA’s broader vision of intertwining its growth with the economic progress of its customers. Additionally, M-KOPA’s expansion into South Africa last November further solidifies its position as a key player in enhancing financial inclusion across the African continent.

Since its inception in 2010, M-KOPA has continuously evolved to deliver life-enhancing assets to the financially excluded, amounting to over $1 billion in products and credit deployed.

The company’s commitment to financial inclusion is underscored by its partnership with various stakeholders, including mobile network operators such as Safaricom, and manufacturers and brands.

Through these collaborations, M-KOPA has been able to provide access to mobile money, value-added services, market entry, finance, and last-mile access, effectively catering to the diverse needs of its customer base.

The technology-driven expansion in Africa’s internet economy presents a significant opportunity for further growth and impact. Despite this upward trajectory, a substantial proportion of the adult population still remains excluded from the digital economy due to a lack of smartphone ownership.

M-KOPA’s focus on making affordable digital products and flexible financial services accessible is vital in bridging this gap, enabling individuals to access income-generating opportunities and improve their overall quality of life.

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M-KOPA emphasizes payment flexibility, enabling customers to return the product at any time, receive a deposit refund, and be released from their loan obligations in the event of an inability to complete the loan.

Through its inclusive and progressive approach, M-KOPA strives to foster financial inclusion by providing access to life-enhancing products and subsequently offering additional financial tools such as digital loans and health insurance, driven by customers’ development of a credit score through repayment.

The impact of M-KOPA’s approach is evident in the statistics, revealing significant economic and social progress among its customers. Notably, the company has unlocked over $1 billion in credit to serve 4 million customers, generating $2 billion in income and uplifting over 16 million lives.

Moreover, M-KOPA has played a pivotal role in advancing gender equality, with more than one-third of its customers being women and a substantial percentage of female sales agents, contributing to bridging the gender gap in access to financial and digital resources.

M-KOPA is committed to its ambitious goal of enhancing financial inclusion and catalyzing a cycle of prosperity, and its relentless efforts are poised to continue making a significant impact across Africa’s evolving economic landscape.

For further information, you can get in touch with M-KOPA via info@m-kopa.com, and visit their website at www.m-kopa.com.