M-KOPA hits 10M African users, expands smartphone financing across Nigeria

M-KOPA, a Kenyan fintech that began with solar home systems in 2011, announced it has surpassed 10 million customers across five African markets—Kenya, Uganda, Nigeria, Ghana, and South Africa—and has financed 10 million smartphones. The company offers smartphones on a daily repayment plan; if a payment is missed, the device is locked but no debt accrues. Repayment behavior is used to build a credit score, unlocking access to loans, insurance, and other financial services. M-KOPA turned profitable in 2024, with revenue rising 66% to $416 million, and operates a Nairobi assembly plant that produces over 2 million devices yearly.

For Nigerians, especially those in the informal sector lacking payslips or collateral, this model provides a pathway to own a smartphone and start building a credit history. As phones become essential for banking, work, education, and entertainment, M-KOPA’s approach ties device ownership directly to financial inclusion, expanding economic opportunity.

If you need a smartphone but lack traditional financing, consider M-KOPA’s daily repayment option available in Nigeria. The service locks the device only for missed payments, avoiding debt accumulation, while your payment history helps you qualify for future loans or insurance. With over 10,000 new customers added daily across its markets, the service is rapidly expanding and gaining trust.

SOURCE: https://techcabal.com/2026/07/23/techcabal-daily-warranty-imeisha/