London, 12 May 2026: M-KOPA, the pan-African fintech, has been ranked on
the Financial Times’ “Africa’s Fastest Growing Companies” list for the
fifth consecutive year. M-KOPA is one of only five companies to have
appeared on the list in each of the last five years — and the largest
of them.
M-KOPA will soon cross the 10 million customers mark, and is now
onboarding over 10,000 new customers daily. Revenue grew more than 65%
year-over-year in 2024, accelerating from a 42% CAGR across 2020-23.
Growth has continued profitably in 2025 and into 2026.
Having started operations in Kenya, M-KOPA is now a full multi-market
company operating across five countries in Africa. Nigeria has become
the fastest market to reach 1 million customers in M-KOPA’s history.
Ghana was the fastest from proof of concept to scale. The shift
demonstrates that a model developed for Africa’s every day earners is
scalable across different economic contexts.
Central to that scalability is M-KOPA’s vertically integrated model.
From its Nairobi-based assembly facility, which produces over 2 million
smartphones a year, through to the financial services embedded within
each device, M-KOPA controls the full value chain. Its “More than a
Phone” proposition embeds digital financial services – including health
insurance, digital loans, mobile data, and device protection – directly
into smartphone access, turning a first purchase into an ongoing
financial relationship.
The customer impact is significant. For 42% of customers, an M-KOPA
smartphone is their first. For 67%, M-KOPA opens access to health
insurance they could not otherwise afford. M-KOPA’s 2025 Impact Survey
found that 86% of customers agreed or strongly agreed that M-KOPA’s
products and services had improved their standard of living.
The addressable opportunity remains vast. As the continent with the
world’s fastest growing population, Africa will be home to over 1
billion non-salaried, economically active adults by 2040.
Commenting on the ranking, Jesse Moore, CEO and Co-founder of M-KOPA,
said: “Five consecutive years on this list reflects something more than
growth; it reflects a fundamentally different approach to financing
progress for every day earners. We exist to make financial services
accessible to the microentrepreneurs driving Africa’s economy. As a
company committed to supporting Africa’s economic growth, the more we
close that gap, the stronger we all become.”
M-KOPA’s impact extends beyond the individual customer, strengthening
local value chains and contributing to broader economic development. In
2024, M-KOPA generated over $230 million in regional procurement spend
and contributed $45 million in taxes across its operations. M-KOPA’s
positive impact is independently measured by third-party verification
experts, with results published annually at www.m-kopa.com/impact
