M-KOPA Named Among Africa’s Fastest Growing Companies for Fifth Consecutive Year

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.

“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.”

– Jesse Moore, CEO and Co-founder, M-KOPA

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