M-KOPA Hits 3 Million Customers, Injects Over KES 17bn Into the Kenyan Economy
According to the company’s 2024 Impact Report, released last week, M-Kopa has now reached over 3 million customers in Kenya and sustained more than 16,000 jobs.
The report 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 since inception included Corporate tax, Withholding tax, VAT, reverse VAT, Import taxes and PAYE as at end of 2024.
“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 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 says over 1.5 million smartphones have so far been produced through the local assembly factory with a target of 10 million locally produced and sold affordable smartphones by 2027.
M-KOPA has also launched and locally produced the first branded smartphone, the M-KOPA X20, with an embedded digital financial services.
The firm notes that it now has over 14,000 paid sales agents, with a target of growing that number to 20,000 by the end of 2025. It has also Financed over 1500 e-motorbikes on Kenya’s roads.
The M-KOPA Group has a presence in five markets in Sub-Saharan Africa, reaching over 5 million customers and has disbursed over $1,5bn in credit.
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