African Business

M-KOPA named in FT’s “Africa’s fastest growing companies” for third consecutive year


M-KOPA, a leading African fintech company, has been recognized in the Financial Times (FT) “Africa’s Fastest Growing Companies 2024” list for the third year in a row. This achievement highlights the company’s substantial growth and its commitment to providing affordable financing options for smartphones, electric motorbikes, and digital financial services across sub-Saharan Africa.

A Leader in Financial Inclusion

M-KOPA has provided over $1 billion in credit to individuals who would not ordinarily qualify for formal financing products. Its innovative micropayment model has unlocked access to previously inaccessible products and digital financial services for over 4 million people. By making smartphones affordable, the company has enabled customers to connect to the internet, many for the first time, and improve their livelihoods as active participants in the digital economy.

A Key Player in Africa’s Fintech Sector

The company’s consistent recognition on the FT’s list highlights its pivotal role in fostering financial and digital inclusion across Africa. M-KOPA’s proprietary technology and AI Machine Learning models have enabled it to provide access to smartphones embedded with life-enhancing financial services. The company’s distribution network and commitment to building long-term relationships with customers have been key to its success.

A Commitment to Customer Empowerment

“We are proud to be one of the largest and most consistent companies on the FT ‘Africa’s Fastest Growing Companies’ list for three successive years,” said Faraimose Kutadzaushe, M-KOPA CFO. “As M-KOPA continues to scale, we remain deeply committed to building long-term relationships with our customers. The foundation of these relationships starts with a smartphone, which is crucial for empowering our customers to overcome financial challenges and achieve progress. By doing so, we are paving the way for financial inclusivity across Africa.”

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