M-Kopa, a leading asset financing firm, has solidified its position in Kenya’s smartphone market by capturing a 20.9 percent market share. The company achieved this milestone by selling at least one million units of its branded smartphones over the 12 months ending last September. This sales figure reflects the increasing popularity of M-Kopa’s credit-based, pay-as-you-go model.
The one million units sold represent a significant portion of the 4.8 million devices recorded by the Communications Authority of Kenya as sold within the period. M-Kopa’s production capacity also stands out, with the company manufacturing approximately 5,000 devices daily.
M-Kopa began assembling smartphones locally in January 2023 following the government’s introduction of a 10 percent excise duty on imported phones, in addition to the already existing 25 percent import duty. This local assembly strategy has helped mitigate rising costs and meet local demand more efficiently.
Alongside East Africa Device Assembly Kenya, a Safaricom-led consortium M-Kopa is one of only two companies assembling smartphones in the country. This effort underscores Kenya’s growing capabilities in local device production and reduces reliance on imported phones.
In addition to its smartphone success, M-Kopa recently celebrated reaching one million beneficiaries in its free health insurance program. Launched in January 2023 in partnership with Turaco Insurance, the program provides free inpatient health coverage to customers purchasing M-Kopa smartphones, offering payouts of over Sh1,000 per night for stays in registered hospitals.
“What began five years ago as health insurance coverage for our sales agents has grown into protection for over one million Kenyans,” said M-Kopa Kenya general manager Martin Kingori.
With its growing market share and expanding service offerings, M-Kopa continues to reshape Kenya’s mobile and financial landscape.
