A leading pay-as-you-go energy provider for off-grid homes, M-KOPA Solar, has expanded into Nigeria to offer customers the ability to acquire smartphones, solar lighting, TVs, and domestic appliances.
The expansion follows a successful pilot project in Lagos, whence the company recorded sales of over 20,000 smartphone devices.
M-KOPA says it has provided over 400 million USD in the 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.
The company started as a pay-as-you-go solar power provider for off-grid homes a decade ago. However, it expanded into smartphone finance in 2019 and now offers customers access to 4G devices.
Recently, they 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 overtime via micro-payments.