This archive report was first published on 9 October 2019.
Since its inception eight years ago, M-KOPA Solar has been providing off-grid homes and businesses with asset financing for solar-powered lights, radios, and televisions. As of 2019, the company's customer base stood at three million in Kenya, Uganda, Tanzania, Rwanda, and the United Kingdom.
According to M-KOPA's 2019 Impact Report, the company has processed over 100 million loans through various mobile lending platforms, with customers repaying via micropayments platforms such as Mpesa and Airtel money. This has resulted in the issuance of close to Ksh 24 billion in credit to customers.
Notably, nearly 50% of M-KOPA customers now engage in more productive activities, such as working more hours or spending more time on their business. In 2018, over 140,000 customers directly generated income through local phone charging services, hosting movie screenings, or using solar lighting in a business.
Furthermore, M-KOPA calculates that its 750,000 systems in the market will help curb 1.7 million metric tons of carbon over their lifetimes, contributing to climate action.
It's worth noting that M-KOPA has also faced challenges, including laying off 450 workers in its subsidiaries in the United Kingdom, Uganda, Rwanda, and Tanzania in 2020 to ease operational costs and boost profitability.
