M-KOPA Solar, the world’s leading pay-as-you-go energy provider to off-grid homes, and which also offers underbanked customers finance to acquire smartphones, solar lighting, TVs and domestic appliances, has expanded into Nigeria.
The expansion follows a successful pilot project where the company recorded over 20,000 smartphone devices sales in Lagos.
The company has partnered with Samsung and Airtel to enable access to smartphones and broader digital connectivity in this expansion. M-KOPA’s financing model offers customers instant access to products while building ownership over time via micro-payments.
The company started as a pay-as-you-go solar power provider to off-grid homes a decade ago. However, it expanded into smartphone finance in 2019 and now offers customers access to 4G devices.
M-KOPA says it has provided over $400 million in financing, alongside selling over 1 million pay-as-you-go solar systems and 500,000 smartphones to users in Uganda, Kenya, and Nigeria, to date.