M-Kopa, a leading fintech company in Kenya, has set a remarkable precedent in the local smartphone manufacturing industry. Within just one year of launching its assembly plant, M-Kopa has produced over 1.5 million smartphones in Kenya. This has solidified its place as a significant player in the country’s economy. The company, known for promoting financial inclusion, is not only making smartphones more accessible but also enabling users to access digital loans, data packages, and financing for e-motorbikes.
Driving Innovation with Locally Assembled Smartphones
M-Kopa’s smartphones, branded as M-Kopa X2 and X20, are assembled locally, offering more than just mobile devices. These phones come equipped with embedded digital financial services, delivering the company’s “More than a Phone” solution. This innovation allows users to access a variety of financial tools directly through their smartphones. This enhances both connectivity and financial empowerment for millions.
M-Kopa’s assembly plant is more than a manufacturing hub—it’s a key driver of job creation in Kenya. To date, the company has employed over 16,000 Kenyans, with 1,600 full-time employees, including 325 new hires since 2023. The firm aims to further boost employment, forecasting 500 factory jobs by 2025. M-Kopa also relies on a robust sales force of over 14,000 agents, with plans to increase this number to 20,000 by the end of 2025.
Expanding Reach Across Africa
M-Kopa’s impact goes beyond Kenya, as the company has a presence in five sub-Saharan African markets, serving over 5 million customers. Since its inception, M-Kopa has disbursed more than $1.5 billion in credit, contributing KES 17.2 billion in direct and indirect taxes to the Kenyan government. As the company continues to expand, its recent launch in South Africa marks the next phase of its growth.
With a target of producing and selling 10 million smartphones by 2027, M-Kopa is shaping the future of smartphone access across Africa. The company’s leadership, now bolstered by Rajeev Suri, former CEO of Nokia, is well-positioned to guide its expansion and innovation. M-Kopa’s trailblazing efforts in smartphone manufacturing are not only changing the tech landscape in Africa but are also creating pathways for economic empowerment and financial inclusion across the continent.
