M-KOPA assembles 1.5 million phones in Kenya, aiming for 10 million by 2027
M-KOPA, the financial technology firm assembled over 1.5 million phones in Kenya in 2024, aiming to reach 10 million locally produced and sold affordable smartphones by 2027.
This is according to the company’s annual Impact Report, Pathways to Progress released at a media roundtable in Nairobi last week.
M-KOPA has also introduced its first branded smartphone, the M-KOPA X20, developed in partnership with Human Mobile Devices (HMD), the Finnish independent manufacturer known for Nokia phones.
The smartphone features an embedded digital financial services offering that includes digital loans, hospital coverage, data bundles, and device protection
Highlighting its substantial contribution to Kenya’s economy, the report reveals that out of the Group’s five markets and 5 million customers reached across Africa, M-KOPA has made its greatest impact in Kenya. Reaching over 3 million customers, creating more than 16,000 jobs, and contributing KES 17,2 billion in direct and indirect taxes since inception.
“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 Martin Kingori, GM M-KOPA Kenya.
“We are a purpose-driven company whose mission is not only to connect people digitally but to ensure that financial services are accessible and affordable, paving the way for financial empowerment and long-term economic growth.”
M-KOPA Kenya says it has established itself as a critical player in the Kenyan economy, enabling financial inclusion through affordable access to smartphones, digital loans, data, free hospital cover (in partnership with TURACO) and financing for e-motorbikes in Kenya.
By addressing the needs of our largely unseen and underfinanced citizens, the company says it is empowering millions who have historically been excluded from accessing traditional financial services.
The company also revealed that it has created 325 new jobs since 2023 in its 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.
It also plans to start exporting the locally assembled phones to the neighbouring county of Uganda.
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