Pan-African fintech giant M-KOPA has once again been recognised among the Financial Times’ fastest-growing companies in Africa, marking its fifth consecutive appearance on the prestigious ranking. The recognition reinforces the company’s rise as one of the continent’s most scalable fintech and digital inclusion success stories.
Founded to provide affordable financing for underserved consumers, M-KOPA has built its business around pay as you go smartphones, digital credit, insurance, and financial services targeted at everyday earners across Africa. The company operates in Kenya, Uganda, Nigeria, Ghana, and South Africa, and continues expanding rapidly beyond its original East African base.
According to company figures, M-KOPA achieved a 42% compound annual growth rate over the 2020–2023 period, while revenue growth accelerated by more than 65% in 2024. The fintech is reportedly on track to surpass half a billion dollars in annual revenue as adoption of its smart financing ecosystem grows.
One of M-KOPA’s biggest advantages has been its ability to merge device financing with embedded financial services. Millions of users many accessing the internet for the first time have used M-KOPA financed smartphones to enter the digital economy, while also gaining access to loans, insurance, and subscription products directly through the platform.
The company has also invested heavily in infrastructure and local manufacturing. In Kenya, M-KOPA established East Africa’s largest smartphone assembly factory, producing more than one million smartphones annually and creating hundreds of jobs. Its branded devices now account for a significant share of smartphone sales in Kenya.
For Africa’s tech ecosystem, M-KOPA’s continued rise reflects the growing strength of embedded finance, alternative credit scoring, and asset-backed fintech models. As traditional banking systems struggle to reach informal workers and underserved consumers, companies like M-KOPA are proving that large-scale financial inclusion can also become a profitable growth business.
Follow Tech Leaders Africa for more scoops from the continent’s innovation frontlines.