M-KOPA, the fintech platform that provides digital credit to underbanked customers, has announced the release of its 2021 Impact Report.
According to the report, the company has so far unlocked $600 million (Ksh72 billion) of credit for customers, 4.5 million lives improved with life-changing products, over 1 million solar home systems sold, avoiding 2 million tonnes of CO2 emissions, and over 1 million individuals access high-quality smartphones.
“As a mission-driven company, M-KOPA’s tremendous growth is rooted in its commitment to both commercial and social goals. The report presents findings on M-KOPA’s smartphone, solar and cash loan customers across Kenya, Uganda, Nigeria and Ghana. While much of the impact has been realised in East Africa, M-KOPA recorded rapid growth following its expansion into West Africa over 2020/21,” the company said.
Read: Former US Vice President Al Gore Buys Stake In FinTech Firm M-Kopa
“Despite the whirlwinds of economic uncertainty caused by COVID-19, throughout 2020 and 2021 M-KOPA defied global trends and created significant-high-quality employment. The fintech company’s full-time staff more than doubled from 2019 to 2021, with 944 additional jobs created. Additionally, M-KOPA sales agents, who actively reach community members across the company’s core markets, quadrupled to 10,000 agents between 2019 and 2021.”
Founded in 2011, M-Kopa offers millions of people access to life-enhancing products and services, such as smartphones, solar lighting, solar-powered appliances, cash loans and health insurance by unlocking affordable credit.
In March 2020, the platform reached a milestone of 2 million customers served, and with impact and inclusion remaining core to its mission, M-KOPA strives to increase the number of customers on its platform by 10x over the next five years.
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