Author: british_international

By combining technology with flexible finance, M-KOPA has reached over 5 million underserved customers across Africa.

According to the World Bank, three in four adults living in sub-Saharan Africa are financially excluded, unable to access formal banking or credit due to a lack of employment records, credit history or collateral. This makes it difficult for millions to save, invest or grow their income.

Originally launched to deliver solar home systems to low-income households, M-KOPA is now a leading digital finance platform operating across five African countries. Since our first investment in 2017, the company has provided $1.5 billion in credit to more than 5 million customers, most of whom live on less than $5.50 a day and work in the informal economy. As a result, it indirectly impacts over 23 million lives.

M-KOPA’s flexible pay-as-you-go model lets customers buy essentials like smartphones and e-bikes while building their financial track record. In 2024, the company produced its first 1 million locally assembled smartphones, launched a refurbishment facility, and rolled-out its first branded phone, the X20. It also introduced ‘More than a Phone’ an embedded digital financial service, and sold 1,500 e-bikes through M-KOPA Mobility in Kenya. With 92 per cent of customers saying it makes product ownership more affordable, and 88 per cent finding repayments easier than other loans, M-KOPA shows financial inclusivity can transform lives.

Our local currency financing is helping to deliver affordable access to high-speed broadband for homes and businesses across Senegal.

African firms using the internet have labour productivity 3.7 times higher than non-users. And while Senegal has made significant strides in expanding its telecommunications infrastructure, with mobile broadband services covering most of the country, rural areas still struggle with expensive and unreliable internet access. Currently, just 0.9 million homes and businesses in Senegal have a broadband subscription, hampering education, healthcare and business development.

In 2024, we committed €25 million of local currency debt financing to Sonatel, Senegal’s largest telecommunications operator. Sonatel provides a wide range of telecommunications services, including fixed and wireless broadband, mobile data, fixed-line voice services and mobile money. The financing is part of a broader €87 million sustainability-linked facility in partnership with the International Finance Corporation (IFC) and Proparco. The funding is being used to improve essential telecoms infrastructure, particularly in rural areas. The project aims to increase Senegal’s mobile users from 12.6 million to 14 million by 2031 and expand high-speed internet connections in homes and businesses from 0.9 million to 2.6 million in 2031.

Our investment structure also links the pricing of the loan to Sonatel achieving measurable development goals. These include increasing the company’s number of women in management positions in Senegal and expanding the reach of digital skills programmes across the country.