Sylvia Duruson
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 Kenya’s 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 company’s 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-KOPA’s 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.
Beyond Kenya, M-KOPA operates in Nigeria, Ghana, South Africa, and Uganda, reaching over 5 million customers across these markets. The company has disbursed more than $1.5 billion in credit, focusing on serving traditionally underfinanced citizens who lack access to conventional banking services.
Their holistic approach combines technology access, employment creation, and financial inclusion to address critical economic challenges. Through tax contributions spanning corporate, withholding, VAT, import, and PAYE categories, M-KOPA has become an integral part of Kenya’s economic infrastructure.
The company’s growth trajectory reflects its success in bridging the financial inclusion gap while creating sustainable economic opportunities. By focusing on local production and workforce development, M-KOPA continues to strengthen its role in Kenya’s digital financial ecosystem.
