M-kopa Says it Has Issued $22.5 Million in Device Credit in South Africa Since 2023

In short

M-KOPA says it has extended more than ZAR 370 million, or about $22.5 million, in credit to low-income consumers in South Africa since launching there in 2023.

Its 2025 impact report says women are driving much of the uptake.

What happened

M-KOPA, a Kenyan asset financing startup, published a South Africa-focused impact report covering customer usage and outcomes.

The company says it has 105,000 customers in South Africa. Women account for 49% of them.

The report adds that 36% of female customers are first-time smartphone users, compared with 24% of men.

M-KOPA’s model is device financing, which means customers pay for a smartphone over time using small instalments rather than paying the full price upfront.

The report is based on a survey of 452 customers and sales agents conducted by Caribou.

It found that 64% of respondents rely on their devices to generate income. About 35% said their earnings increased, and 39% said they could invest more in their children’s education.

Why it matters

In South Africa, smartphone prices and limited access to credit keep many people offline, even where mobile networks exist.

M-KOPA is betting that flexible credit can close the affordability gap between wanting a smartphone and being able to buy one.

The report also points to a gender angle that operators and fintechs watch closely, women are adopting financed smartphones at scale and a sizable share are coming online for the first time.

The company’s numbers land in a wider regional context. The World Bank’s Global Findex 2025 Digital Connectivity Tracker says 74% of adults in Sub-Saharan Africa own a mobile phone versus 86% globally, and 77% of those without one cite cost as the main barrier.