M-KOPA has reached a significant milestone of serving 5 million customers in Kenya, according to its 2024 Impact Report. The digital financial services company has generated over 16,000 employment opportunities and contributed Sh17.2 billion 133.4 million in various taxes to Kenyas economy.
Founded in 2011 by Nick Hughes, Chad Larson, and Jesse Moore, M-KOPA provides affordable access to smartphones, digital loans, data services, and e-motorbike financing. The company also offers free hospital coverage through its partnership with TURACO, expanding financial inclusion across Kenya.
Martin Kingori, General Manager of M-KOPA Kenya, highlighted the companys commitment to expanding economic opportunities and making financial services more accessible for Kenyans. Their local smartphone assembly factory has created 325 new positions since 2023, primarily targeting youth and first-time job seekers, with plans to expand to 500 positions by 2025.
The assembly facility has produced over 1.5 million smartphones, including the M-KOPA X20, their first branded smartphone featuring embedded digital financial services. The company aims to manufacture and sell 10 million locally produced smartphones by 2027, demonstrating their commitment to affordable technology access.
M-KOPAs sales network comprises over 14,000 paid agents, with plans to expand to 20,000 by late 2025. The company has successfully financed more than 1,500 e-motorbikes operating on Kenyan roads, further diversifying their impact on local transportation.
