M-KOPA Nigeria provided over ₦231 billion credit to over 1m customers in 2025

Nigeria’s informal economy has gained a powerful boost. According to the just-released M-KOPA Nigeria’s inaugural Impact Report, unveiled today, Thursday, February 2026, in Yaba, Lagos, the pay-as-you-go platform has unlocked ₦231 billion in credit for more than one million customers.

The company says this makes Nigeria its fastest-growing market and the quickest to reach that milestone. 

Since launching in 2019, M-KOPA has focused on flexible smartphone financing and digital financial tools designed around the realities of informal work. Its target market, described as “everyday earners”, includes traders, drivers, artisans and small shop owners who earn and spend in daily cycles.

According to the report, 77% of customers use their smartphones or digital loans to generate income. Three in four say they are earning more since joining the platform. Among long-term customers, 81% report improved household expenses.

In total, 290,000 Nigerians accessed a smartphone for the first time through M-KOPA’s financing model.

Babajide Duroshola, General Manager of M-KOPA Nigeria, said the country’s growth reflects pent-up demand for practical digital tools.

“Nigeria represents extraordinary potential, and we’re proud that it has become M-KOPA’s fastest-growing market. Our Impact Report shows that when Every Day Earners gain access to the right digital and financial tools, they use them to create stability and long-term progress for their families.

This is about access that unlocks opportunity and sustained prosperity.”

M-KOPA’s digital access as economic infrastructure

For many customers, a smartphone is not a lifestyle upgrade but working capital. The report reinforces a clear pattern: device finance is closely linked to income growth. Smartphones enable payments, supplier coordination, online marketing and access to credit.

In informal markets where visibility and speed matter, connectivity can mean the difference between subsistence and growth.

Suliyat, a rice seller, embodies that shift.

“When I found out the M-KOPA deposit was just NGN 40,000, I paid immediately. With the money I had been saving, I bought more rice for my business. Now, I can pay the kids’ school fees and grow my business. With my smartphone, I keep in contact with suppliers, manage my salesgirls, and even post TikTok videos of my food.”

Her story mirrors a broader trend. Across M-KOPA’s customer base, smartphones function as business tools rather than consumer luxuries. They anchor trade, customer engagement and cash flow management.

Nigeria’s strongest agent network

Distribution has been central to the company’s growth. Nigeria now leads all M-KOPA markets in agent network performance, with 11,000 active Direct Sales Agents and an exceptionally low turnover rate of 0.1%.

The income impact is significant. Ninety-nine per cent of agents report earning more through M-KOPA, while 56% say it was their first income opportunity.

Adewunmi’s journey highlights the career pathways the model can create. Shortly after giving birth in 2021, she joined as an agent and later rose to Sales Lead, managing 20 sales agents.

“Working with M-KOPA has truly empowered me. I can now manage daily expenses, handle emergencies, invest in my future, take care of my family, and pay my child’s school fees. I’ve learned how to attend to and communicate better with customers… My sales and negotiation skills have improved, I manage my time more effectively, and I’ve gained a lot more confidence.”

The combination of scale and retention strengthens trust at the community level. In markets where relationships drive adoption, that matters.

Closing the gender gap

The report also signals measurable progress on women’s inclusion. Female customer participation rose from 29% in 2024 to 33% in 2025. Women now account for 53% of active sales agents, representing a 42% increase.

More importantly, 52% of women customers accessed their first formal loan through M-KOPA. That shift narrows persistent gaps in financial access and credit history for women in Nigeria’s informal sector.

Also read: M-Kopa hits 1 million customers in Nigeria, its fastest country to reach that milestone

Strategic alliances have helped deepen impact. Partnerships with MTN Nigeria, Samsung and HMD bundle connectivity, device protection and trade-in options into financing plans. These collaborations embed real value into everyday usage, turning affordability into meaningful digital participation.

Behind the scenes, device security features and firmware-level controls help manage credit risk on financed handsets. That technical layer reduces losses and supports sustainable pricing. It is a reminder that product design and credit policy must evolve together in emerging markets.

Nigeria hosts one of Africa’s largest informal labour markets. Access to a productive asset, combined with structured repayment and digital financial services, addresses both affordability and inclusion.

Yet the model carries responsibility. Consumer education, transparent dispute resolution and robust data privacy frameworks will shape long-term trust. Growth alone is not enough; safeguards must scale alongside it.

Still, the ₦231 billion headline figure tells only part of the story. The deeper shift lies in behaviour. Millions are using smartphones as income tools. Thousands of agents are building stable livelihoods. This is a blueprint for accelerating digital inclusion across West Africa.

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