M-KOPA, the fintech platform that provides digital credit to underbanked customers, today announced the release of its 2021 Impact Report.
As a mission-driven company, M-KOPA’s tremendous growth is rooted in 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, the platform 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 sold, avoiding 2 million tonnes of CO2 emissions;
- Over 1 million individuals accessing 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.
Founded in 2011, the fintech platform 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, the fintech platform 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.
About M-KOPA
Founded in 2011, M-KOPA is a fintech platform that provides digital credit to underbanked consumers by combining digital payments with Internet of Things technology.
The platform has provided over $600 million in credit enabling 2 million customers to access smartphones, solar lighting, solar-powered appliances and digital credit.
Report Methodology
- All impact estimates are based on the principles outlined in GOGLA’s Standardized Impact Metrics for the Off-Grid Solar Energy Sector, aligned with the IRIS Metrics.
- All impact estimates are calculated based on the distribution of its products sold directly across East and West Africa, with underlying variables based on customer surveys from Kenya, Uganda and Nigeria and analytics gathered through M-KOPA’s business intelligence platform.
- The report draws on an independent impact assessment carried out by 60 Decibels, a leading impact measurement company.
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