M-KOPA, a connected asset financing platform that offers underserved and unbanked customers across Africa access to life enhancing products and services, has just released its Impact Report for 2021. M-KOPA was established over 10 years ago,
for 2021. M-KOPA was established over 10 years ago, and pioneered and helped catalyze the growth of the pay-as-you-go solar market.
M-KOPA’s Impact Report cites that about 85% of adults in Sub-Saharan Africa live on less than $5.50 per day and earn variable daily or weekly incomes working in the informal economy. It is therefore quite difficult for most of them to get access to credit. Platforms that enable customers to pay the cost of an essential product in daily, pay-as-you-go installments allow customers to access goods and services otherwise unaffordable as a lump sum purchase.
Over 1 million individuals accessing high quality smartphones, enabling access to information and earning opportunities online
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