M-KOPA reaches 10 million customers as its solar financing roots give way to a broader African fintech business
M-KOPA has marked its 15th anniversary after reaching 10 million customers across Africa, while recording a 45 per cent increase in revenue to $600 million in the 2025 financial year.
The fintech company, which began operations in 2011 as a provider of financed solar systems, said three million customers joined its platform over the past 12 months alone. Its customer base now spans Kenya, Nigeria, Ghana, Uganda and South Africa.
The growth has come as M-KOPA expands beyond solar financing into smartphones, digital loans and electric mobility, targeting customers who often have limited access to traditional financial services.
“2025 was a record year for M-KOPA, with customer and revenue growth reaching new highs”, said Chief Financial Officer Faraimose Kutadzaushe. “We maintained profitability while reinvesting as much as possible in our products, technology and distribution to scale our reach across Africa’s massive, underserved market of everyday earners. We are still very early in our growth trajectory.”
M-KOPA said it remained profitable during the financial year while continuing to invest in its products, technology and distribution network. The company added about 200 full time employees during the year, representing a 9 per cent increase in headcount, while more than 5,000 sales agents joined its distribution network.
The company now employs more than 2,500 full time staff and provides income-generating opportunities to nearly 50,000 sales agents across its markets.
M-KOPA currently onboards about 10,000 customers each day and processes micropayments at a rate of 23 transactions per second, highlighting the scale of its pay-as-you-go financing model.
Customer use of multiple products has also increased, with more users taking up smartphones, digital loans and electric mobility products during their multi-year relationship with the company.
M-KOPA entered the smartphone financing market in 2020, marking a significant shift from its original focus on solar products. Since then, the company has recorded a five-year compound annual growth rate of 50 per cent.
Its expansion into electric mobility has also gained traction in Kenya, where more than 10,000 electric motorcycles and three-wheelers financed by the company are now in operation.
The fintech has simultaneously increased its focus on affordable smartphone manufacturing. Its investments have included technology acquisitions and the establishment of what it describes as Africa’s largest smartphone assembly factory in Kenya.
M-KOPA launched its latest X4 smartphone series this month as it continues to build its device financing business alongside its digital financial services and electric mobility offerings.
The company said its latest results reflect continued demand for affordable financial and asset financing solutions among Africa’s underserved consumers.
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