M-KOPA, a leading African fintech platform, has officially introduced its adaptable digital financing approach in Ghana after a successful pilot phase, marking its expansion into the second West African country. This strategic move strengthens the company’s Pan-African presence and aims at providing financial and digital inclusion for underbanked customers.
Focusing initially on smartphone financing in the Greater Accra Region, M-KOPA has collaborated with Samsung and Nokia to offer financing to over 100,000 individuals, unlocking more than $10 million in digital credit for customers in Ghana. These initial accomplishments set the stage for continued regional growth and the expansion of product offerings.
Mayur Patel, M-KOPA’s Chief Commercial Officer, expressed enthusiasm about the company’s expansion in Ghana, highlighting the customer-centric approach geared towards improving people’s daily lives. The recent 2023 Impact Report showcased M-KOPA’s remarkable progress in servicing over 3 million customers and unlocking $1 billion in credit, with a substantial number of customers being first-time smartphone users experiencing an enhanced quality of life due to M-KOPA’s services.
Chioma Agogo, General Manager of M-KOPA Ghana, emphasized the company’s commitment to empowering Ghanaian customers, marking a significant milestone in their journey towards inclusion.
M-KOPA has steadily expanded its operations in Kenya, Uganda, Nigeria, and now Ghana, with plans for further expansion into South Africa. The company’s innovative approach combines digital micropayments with the Internet of Things (IoT), offering individuals with limited financial identities instant access to essential assets like smartphones and digital financial services through a flexible credit model requiring only a small deposit.
