Pan-African fintech company M-KOPA has once again secured a spot on the Financial Times’ “Africa’s Fastest Growing Companies” ranking, marking its fifth consecutive appearance on the prestigious list. The company is now one of only five firms to achieve the milestone every year since the ranking began.
The achievement comes as M-KOPA edges closer to 10 million customers across Africa, while onboarding more than 10,000 new users daily. The company reported over 65% year-on-year revenue growth in 2024, building on a 42% compound annual growth rate recorded between 2020 and 2023. According to the company, growth has remained profitable through 2025 and into 2026.
Originally launched in Kenya, M-KOPA has expanded operations across Nigeria, Ghana, Uganda, and South Africa. Nigeria has emerged as the company’s fastest market to reach one million customers, highlighting the rapid adoption of its smartphone financing and embedded financial services model.
At the core of M-KOPA’s expansion is its vertically integrated model, which combines smartphone manufacturing, credit financing, insurance, and digital financial services into one ecosystem. The company’s Nairobi assembly facility currently produces over two million smartphones annually.
M-KOPA says its services are driving broader financial inclusion across underserved communities in Africa. The company revealed that 42% of its customers accessed a smartphone for the first time through its platform, while 67% gained access to health insurance they previously could not afford. Its 2025 impact survey also found that 86% of customers reported an improved standard of living after using its products and services.
The recognition reflects the broader rise of African fintech and technology companies on the continent’s business landscape. The 2026 Financial Times ranking, compiled with Statista, highlighted fintech, software, and IT firms as dominant drivers of growth across Africa.
