M-KOPA Ghana says it has unlocked GHS 1.2B in smartphone credit since 2021, reaching 550,000 customers and bundling health insurance via Turaco.
M-KOPA Ghana released an Impact Report that focuses on how its smartphone financing model is tied to access and affordability. The company provides phones on flexible instalment plans, which works like a pay-as-you-go loan for a device.
M-KOPA Ghana says the launch of “More than a Phone” in January 2025 drove a fourfold increase in sales and supported its nationwide expansion. The product is a smartphone-embedded services platform, meaning services are bundled into the phone plan instead of being bought separately. M-KOPA says this bundle includes affordable data access, device protection, and health insurance.
A major focus in the report is embedded health cover via Turaco. Embedded insurance means insurance is included inside another product purchase, similar to buying a phone and getting cover as part of the monthly payment. M-KOPA says 67% of customers with the bundle accessed health insurance for the first time through this partnership, and 43% of female customers said they chose an M-KOPA phone specifically for the health insurance.
The company also reported broader digital inclusion metrics. It says 44% of customers accessed a product or service for the first time through M-KOPA. It also says 36% of customers and 41% of women got their first phone through an M-KOPA smartphone.
M-KOPA’s numbers point to a practical path for smartphone adoption in Ghana, where upfront device costs can block access to the internet and digital services. In the report, M-KOPA cites GSMA estimates that an entry-level smartphone can cost up to 95% of a low-income earner’s monthly wages in Sub-Saharan Africa.
For fintech and insurtech operators, the report is another signal that distribution and bundling matter. When credit, connectivity, and insurance are packaged into one instalment plan, customers can start using services earlier, even without savings for a full purchase.
The report also highlights how agent networks drive scale. M-KOPA says it has 3,000+ direct sales agents, and that women now make up 31% of that sales force, up from 26% in 2024.
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