NAIROBI, Kenya Oct 25 – M-Kopa has now reached over 3 million customers in Kenya, sustaining more than 16,000 jobs, according to its 2024 Impact Report.
The report based on Kenya’s transformative role in digital connectivity and financial inclusion showed that the company also boosted the local economy by injecting Sh17.2 billion in direct and indirect taxes since inception.
The taxes paid to the Kenya Revenue Authority included corporate tax, withholding tax, VAT, reverse VAT, import taxes, and PAYE as of September 2024.
The fintech giant has been a critical player in the Kenyan economy, enabling financial inclusion through affordable access to smartphones, digital loans, data, and financing for e-motorbikes in Kenya.
Martin Kingori, General Manager, M-KOPA Kenya, said the firm not only connects its customers digitally but also ensures that financial services are accessible and affordable, paving the way for financial empowerment and long-term economic growth.
“M-KOPA Kenya is proud to be a driving force in expanding economic opportunities for millions of Kenyans and making a significant contribution to the economy of the country,” said Kingori.
King’ori revealed that 325 new jobs have so far been created since 2023 in M-KOPA’s local smartphone assembly factory, primarily for youth and first-time job seekers.
M-KOPA forecasts to increase the number of jobs at the factory to 500 in 2025, targeting to grow the number of its paid sales agents from the current 14,000 to 20,000 by the end of 2025.
The firm, which has sold over 3.3 million locally produced smartphones in Kenya since 2020, now aims to boost the capacity of the gadget to 10 million smartphones by 2027.
“M-KOPA Kenya’s solutions have been particularly impactful for “Every Day Earners,” such as boda boda riders and market vendors, who rely on daily income but face barriers accessing formal credit. With M-KOPA Kenya’s flexible repayment model, which mirrors their income patterns, these individuals can make daily micro-payments, build a credit history, and unlock financial opportunities,” added King’ori.
Mkopa operates a total of 5 markets across the continent, including Kenya, by offering smartphones to its users through its innovative model that allows customers to access a smartphone and gain entry to the digital economy with an affordable daily repayment model that fits their daily income and cash flow.
The other markets in the region include Uganda, Nigeria, Ghana, and South Africa.
