M-kopa Reaches 10M Customers Across Five African Markets

In Short

• M-KOPA says it has reached 10 million customers.
• The asset-financing lender says it now onboards about 10,000 customers per day.
• The company operates across Kenya, Uganda, Nigeria, Ghana, and South Africa.

What Happened

M-KOPA says it now serves 10 million customers across five African markets. The company said the milestone comes six years after it crossed one million customers.

M-KOPA also said it is onboarding about 10,000 customers daily as it scales lending beyond its Kenyan roots. Asset financing means a customer gets a product, like a phone, and pays for it over time, similar to a hire purchase plan.

The company’s recent performance has supported that expansion push. In October 2025, M-KOPA reported its first annual profit and said revenue grew 66% year on year. A month later, its Kenyan subsidiary said it had passed $1.6 billion in credit issued to customers.

M-KOPA’s model has shifted in the last few years. After expanding into smartphone financing in 2020, it began using the smartphone as an entry point to other financial services for people who may not qualify for bank loans. These services include device protection, which is an add-on that covers repairs or replacement under set terms.

Nigeria has become a key market for this approach. Since entering Nigeria in 2019, M-KOPA says it has disbursed more than ₦231 billion, about $170 million, in credit there.

Why It Matters

For investors and operators, the 10 million customer milestone is a signal that consumer credit products can scale across multiple African markets when tied to something people already want and use daily, like smartphones.

For the wider ecosystem, M-KOPA’s growth highlights a trend in African lending, moving from single-product financing to bundled services and repeat borrowing. That can deepen inclusion, but it also raises the bar for responsible lending, clear pricing, and customer support as portfolios grow.

If M-KOPA can maintain profitability while onboarding 10,000 customers a day, it may shape how other lenders approach device-based credit, credit scoring, and cross-border expansion in Africa’s consumer finance market.