M-CUTa leading African fintech company has been honored at TIME100 The Most Influential Companies list for the second year in a row. This recognition highlights M-KOPA’s significant growth as it recently celebrated its 4 millionth customer.
The company’s financial solutions have expanded digital connectivity and financial inclusion across Africa, strengthening its position as a fintech pioneer making a tangible difference for millions.
About M-KOPA
Digital connectivity is the catalyst needed for Africa’s economies to thrive, yet millions remain excluded from the digital economy. M-KOPA bridges this gap with innovative solutions to connect people to opportunities.
Since launching its smartphone offering in 2020, M-KOPA has enabled millions of people to own smartphones, with over 1 million accessing the internet for the first time through M-KOPA devices. The company’s impact currently spans five markets. Kenya, Uganda, Nigeria, Ghana, and South Africa.
M-KOPA is a nuisance a 20,000+ strong sales force – one of the largest direct distribution networks in Africa – and proprietary technology stack to offer flexible micropayment models that allow customers to pay for products in installments, without requiring collateral or guarantors. With many of its customers earning daily without a salary, this has been a game changer in terms of increasing smartphone penetration and access to digital financial services such as digital loans and micro health insurance as well as asset financing.
In addition to contributing to digital connectivity and financial access, M-KOPA is also a leader in promoting circular economy and decarbonisation initiatives in Africa. In 2023 M-KOPA launched M-KOPA Mobility with a focus on financing electric motorcycles. This offer has helped thousands of drivers switch from petrol to electric, aligning with Kenya’s climate targets to reduce CO2 emissions by 32% by 2030 and its e-mobility policy.
What they say
“We are incredibly proud to once again be recognized as one of the TIME100 Most Influential Companies. Positive, scalable impact is what drives our innovation to support economic growth across the continent. Having already reached over 4 million customers, we look forward to continuing to make a meaningful impact through our products and services“, he commented Jesse MooreCEO and Co-Founder of M-KOPA.
Zoom out
M-KOPA’s early success was also instrumental in attracting FDI to the region. Most recently, M-KOPA received a $51 million sustainability-linked loan from the US International Development Finance Corporation (DFC), aimed at supporting the company’s efforts to expand smartphone penetration and promote digital connectivity.
By The Numbers
Looking at the company’s potential for future growth and far-reaching impact, the statistics speak for themselves. Over 90% of people do not have access to formal credit and over 300 million are aspiring smartphone users.
Through innovation and pioneering solutions to expand digital and financial inclusion, M-KOPA is well positioned to play an important role in changing this reality across the region.
About TIME’s 100 Most Influential Companies
The TIME100 The Most Influential Companies The list recognizes innovative companies that are making an extraordinary impact around the world. To compile the list, TIME solicited nominations in a variety of fields and asked its global network of contributors and correspondents, as well as outside experts.
TIME editors then rated each on key factors including impact, innovation, ambition and success. The result is a diverse group of 100 businesses helping to chart a meaningful path forward.
To see how M-KOPA ranks in the TIME100 Most Influential Companies among a diverse group of 100 businesses helping to chart a meaningful path forward, see the full list here: time.com/100companies
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