M-KOPA is a leading African fintech platform that offers affordable financial and digital products to everyday earners.
Using a pay-as-you-go model with daily micro-repayments, M-KOPA enables individuals with informal or daily incomes to access smartphones, digital services, and essential financial products.
Founded in 2010, M-KOPA pioneered the concept of combining digital micropayments with mobile connectivity to unlock access to life-enhancing products.
Since then, it has deployed over $1.5 billion in credit, reaching more than 5 million customers across Kenya, Uganda, Nigeria, Ghana, and South Africa with a mission of making financing accessible to everyone, especially those traditionally excluded due to a lack of collateral, a formal salary, or digital access.
Products Offered for Sale by M-KOPA
Currently, in Kenya, M-KOPA offers various services, including the sale of smartphones nationwide and motorbikes to customers within Nairobi.
M-KOPA sells two categories of smartphones: M-KOPA branded phones and Samsung phones. Below are the payment details for some of the available smartphones for new customers:
- Samsung A06 (64GB ROM, 4GB RAM)
- Initial deposit: Ksh 3,999
- Daily installments: Ksh 67.00 for 365 days
- Total cost: Ksh 28,454
- Samsung A06 (128GB ROM, 4GB RAM)
- Initial deposit: Ksh 4,499
- Daily installments: Ksh 85.00 for 365 days
- Total cost: Ksh 35,524
- Samsung A05 (64GB ROM, 4GB RAM)
- Initial deposit: Ksh 2899
- Daily installments: Ksh 67.00 for 365 days
- Total cost: Ksh 27,354
- Samsung A16 (128GB ROM, 4GB RAM)
- Initial deposit: Ksh 5,499
- Daily installments: Ksh 95.00 for 365 days
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- Total cost: Ksh 40,174
- M-KOPA M10 (64GB ROM, 4GB RAM)
- Initial deposit: Ksh 2,799
- Daily installments: Ksh 62.00 for 365 days
- Total cost: Ksh 25,429
- M-KOPA S34 (64GB ROM, 4GB RAM)
- Initial deposit: Ksh 2,799
- Daily installments: Ksh 62.00 for 365 days
- Total cost: Ksh 25,429
- M-KOPA X20 (256GB ROM, 6GB RAM)
- Initial deposit: KES 4199
- Daily installments: Ksh 90.00 for 365 days
- Total cost: Ksh 37,049
- M-KOPA X2 (128GB ROM, 4GB RAM)
- Initial deposit: Ksh 3,299
- Daily installments: Ksh 72.00 for 365 days
- Total cost: Ksh 29,579
Motorbike Offerings:
M-KOPA provides different electric motorbikes, allowing customers to choose based on their preferences. For example, one model requires a deposit of Ksh 20,000 and a daily payment of about Ksh 400 for a period of 730 days. Another model requires a deposit of Ksh 15,000 with a daily payment of Ksh 310.
Repercussions for Failing to Pay the Daily Fee
If a customer fails to pay the daily fee for the purchased items, the phones will lock, preventing communication and operation. For the electric motorbikes, failure to pay will result in the bikes automatically locking themselves.
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To register for M-KOPA and get a smartphone, follow these steps:
- Visit a Safaricom shop or M-KOPA outlet: Bring your National ID and a Safaricom line
- Choose a smartphone: You’ll be provided with a list of available phones and their deposit amounts
- Make a deposit: Pay the required deposit amount through M-Pesa
- Take your phone home: Once the deposit is made, you can take the phone home
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