M-KOPA, the fintech platform that provides digital credit to underbanked customers, has released its 2021 Impact Report.
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 realized in East Africa, M-KOPA recorded rapid growth following its expansion into West Africa over 2020/21.
Key highlights of M-KOPA’s social and environmental impact at the end of 2021 include:
- $600 million of credit unlocked for customers
- 4.5 million lives improved with life-changing products
- Over 1 million solar home systems were sold, avoiding 2 million tonnes of CO2 emissions
- Over 1 million individuals access high-quality smartphones, enabling access to information and earning opportunities online
- 86% of customers report that the quality of their lives has improved because of 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.
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M-KOPA: Unlocking affordable credit for Africans
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.
M-KOPA’s 2021 Impact Report is available for download here.
