M-KOPA, a financial technology company, produced more than 1.5 million domestically made phones in Kenya in 2024, with the goal of producing and selling 10 million low-cost smartphones by 2027.

This is according to the company’s annual Impact Report, Pathways to Progress, which was published during a media roundtable in Nairobi last week.

In collaboration with Human Mobile Devices (HMD), a Finnish mobile phone maker of Nokia phones, the firm launched and locally assembled first M-KOPA-branded smartphone, the M-KOPA X20, which includes an integrated digital financial services offering.

The report also highlights M-KOPA’s contribution to Kenya’s economy, revealing that of the company’s five markets and 5 million consumers served across Africa, Kenya has had the highest impact.

Since its founding, the company has served over 3 million Kenyan consumers, created over 16,000 jobs, and contributed $133.4 million (KES 17.2 billion) in direct and indirect taxes.

“M-KOPA Kenya is proud to be a driving force in expanding economic opportunities for millions of Kenyans and making a significant contribution to the economy of the country,” said Martin Kingori, general manager M-KOPA Kenya.

“We are a purpose-driven company whose mission is not only to connect people digitally but to ensure that financial services are accessible and affordable, paving the way for financial empowerment and long-term economic growth.”

M-KOPA Kenya says it has established itself as a critical player in the Kenyan economy, enabling financial inclusion through affordable access to smartphones, digital loans, data, free hospital cover (in partnership with TURACO) and financing for e-motorbikes in Kenya.

The business also announced that it had added 325 new jobs in its local smartphone assembly factory since 2023, primarily for young people and first-time job seekers. M-KOPA expects to increase the factory’s employment to 500 by 2025.

It also intends to begin exporting locally produced phones to the neighboring country of Uganda.

Source: IT Web