M-KOPA has reached 10 million customers across Africa while reporting a 45 per cent increase in revenue to $600 million for its 2025 financial year, marking another major step in the growth of the pan-African fintech.
The company, which operates in Kenya, Nigeria, Ghana, Uganda and South Africa, disclosed the figures as it marks 15 years since its founding in 2011. The latest milestone shows how quickly its business has expanded beyond its original focus on financing solar products.
According to M-KOPA, three million customers joined the platform within the past 12 months alone. The company now adds about 10,000 customers daily, reflecting the increasing demand for financing among consumers who may struggle to pay for smartphones and other products upfront.
The company said its 2025 performance was its strongest on record, with growth supported by smartphones, digital financial services and electric mobility. Chief Financial Officer Faraimose Kutadzaushe said the business remained profitable while continuing to invest in products, technology and distribution.
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Smartphones Have Changed M-KOPA’s Growth Story
M-KOPA started with financed solar systems, using a pay-as-you-go approach that allowed customers to make smaller payments over time. Its biggest change came in 2020, when the company entered smartphone financing.
That move helped transform M-KOPA into a wider consumer-financing platform. Customers can access smartphones alongside services such as digital loans, insurance and device protection, creating longer relationships beyond a single financed product.
The company says it has recorded a five-year compound annual growth rate of 50 per cent since entering smartphone financing. It also reported that more customers are taking more than one product during their relationships with the platform.
M-KOPA has also expanded into electric mobility. More than 10,000 electric motorcycles and three-wheelers financed by the company are now operating in Kenya, giving the fintech another area for growth as businesses and individuals look for more affordable ways to acquire productive assets.
The scale of its operations has also increased. M-KOPA now employs more than 2,500 full-time workers, after adding about 200 jobs during the year. More than 5,000 additional sales agents also joined its distribution network, bringing the number of people generating income through its sales network to nearly 50,000.
Nigeria Emerges as a Major Market
Nigeria is becoming particularly important to M-KOPA’s African expansion. The company entered the Nigerian market in 2019 and said earlier in 2026 that Nigeria had become the fastest market in its history to surpass one million customers.
In February, M-KOPA Nigeria reported that it had unlocked more than ₦230 billion in credit for over one million customers in the country. The company said 77 per cent of its Nigerian customers used smartphones or digital loans to generate income.
This is important in a country where many workers earn money outside traditional salaried employment. M-KOPA’s model allows customers to make smaller, regular payments instead of meeting the full cost of a smartphone or other asset at once.
For Nigerian entrepreneurs, traders and other income earners, access to a smartphone can also mean access to online customers, digital payments, business communication and other income opportunities. That gives M-KOPA a market that extends beyond simple device sales. Its growth in Nigeria therefore forms part of a broader push to connect consumer financing with everyday economic activity.
Back story
M-KOPA was founded in 2011 and initially built its business around financing solar systems in Africa. The company reached its first one million customers in 2020, meaning it has added the next nine million customers in just six years.
The fintech now processes micropayments at a rate of about 23 transactions per second, according to recent reports. Its current strategy combines asset financing with digital financial services, while smartphone manufacturing has also become an important part of the business.
M-KOPA has invested in smartphone production in Kenya, including a factory it describes as Africa’s largest smartphone assembly facility, and recently launched its X4 smartphone series. The company has also strengthened its technology operations through its acquisition of Finnish software firm KilpiTek, a move aimed at bringing key device-management technology closer to its core operations.
For M-KOPA, the $600 million revenue mark and 10 million customer milestone point to a business that has moved far beyond its original solar-financing identity. As the company continues to expand in Nigeria and other African markets, its next challenge will be maintaining that momentum while keeping its financing products affordable and useful to the customers who have driven its growth.
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