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M-KOPA Makes Africa’s Fastest Growing Companies List for Fourth Time

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M-Kopa

By Adedapo Adesanya

M-KOPA, a pan African fintech company headquartered in the United Kingdom, has made the Financial Times’ Africa’s Fastest Growing Companies rankings for the fourth consecutive year.

M-KOPA, operating in Nigeria, Ghana, Kenya, South Africa, and Uganda, has  reached over 6 million customers to date achieving an impressive CAGR of 42 per cent for the 2020-23 period.

The company has accelerated even faster since 2023, delivering over 65 per cent  year-over-year revenue growth in 2024. M-KOPA is continuing on the same profitable growth path in 2025 and is trending to surpass half a billion USD in annual revenue this year.

According to a statement announcing the milestone, the firm said as fintech continues to scale across the African continent, it exemplifies how purpose-driven businesses with sound fundamentals can be both profitable and impactful by serving traditionally overlooked “unbanked” consumers.

“The company continues to be laser focused on financing progress for non-salaried every day earners, of which there will be over 1 billion adults across Africa by 2040,” it said.

M-KOPA finances smartphones to everyday earners (with more than half its customers accessing the internet for the first time) and then delivers tailored mobile financial services through the device.

M-KOPA’s smart money platform has now issued millions of affordable credit, insurance, and subscription products. Its positive impact is independently measured by third party verification experts with the results published annually on the company website www.m-kopa.com/impact

In 2023, M-KOPA opened East Africa’s first and largest smartphone assembly factory, which is now producing over 1m smartphones annually and has created over 300 new jobs.

The next year, it then introduced its own range of branded smartphones which now account for over 20 per cent of all smartphones sold in Kenya.

In 2025, the organisation continued its pan African expansion and now acquires more customers outside of Kenya than in, with fast customer growth across Nigeria, Ghana, Uganda, and South Africa.

Commenting on the recognition, Mr Jesse Moore, CEO and Co-Founder of M-KOPA said: “We are thrilled to make the FT Fastest Growing Companies in Africa list for the 4th year in a row. Our growth continues to accelerate, and we now onboard a new customer to M-KOPA every 9 seconds.

“Thanks to Africa’s digital payment rails, we now receive 15 payments per second, which in turn creates a unique and deep dataset to understand the financial needs of everyday earners. We are still in the early stages of scaling, with an addressable market that will surpass 1 billion people in Africa by 2040.”

Business Post reports that six Nigerian startups, including Moniepoint, PalmPay, Paga, OmniRetail, Remedial Health, and Termii, made the list.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Benue Killings: Tinubu Orders Service Chiefs, IGP to Arrest Perpetrators

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tinubu in benue

By Adedapo Adesanya

President Bola Tinubu has mandated the country’s service chiefs and the Inspector General of Police (IGP, Mr Kayode Egbetokun, to go after those behind the dastardly killings in Benue State, which have left over 200 people dead.

President Tinubu issued the order on Wednesday during his visit to Benue State following the renewed attacks in the North-Central State.

“Police, I hope your men are on alert to listen to information. How come no arrest has been made? I expect there should be an arrest of those criminals,” Mr Tinubu said at the Benue Government House in Makurdi, the capital, during a stakeholders meeting, monitored by Business Post.

“Christopher (the Chief of Defence Staff), you have given much. I watch your comments, you can’t be tired of staying in the bush. Oloyede (the Chief of Army Staff) and the Air Marshal, we thank all of you, but we need to keep our ears to the ground, let’s get those criminals, let’s get them out. DG NIA, DG SSS, retool your information channels and let’s have tangible intelligence so that this will not occur again,” he said.

During his speech, the Tor Tiv V, Mr James Ayatse, dismissed claims that the killings in Benue State are the results of clashes between herders and farmers, arguing that the killings are a calculated, well-planned, full-scale genocidal invasion and land-grabbing campaign in the state by “herder terrorists and bandits” that had been on for decades.

He said, “We do have grave concerns about the misinformation and misrepresentation of the security crisis in Benue State. Your Excellency, it’s not headers-farmers clashes, it’s not communal clashes, it’s not reprisal attacks or skirmishes.

“It is this misinformation that has led to suggestions such as ‘remain tolerant, negotiate for peace, learn to live with your neighbours’.”

“What we are dealing with here in Benue is a calculated, well-planned, full-scale genocidal invasion and land grabbing campaign by header terrorists and bandits, which has been going on for decades and is worsening every year.

“Wrong diagnosis will always lead to wrong treatment. So, we are dealing with something far more sinister than we think about. It’s not learning to live with your neighbors; it is dealing with the war,” the traditional ruler added.

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UK Reaffirms Support for Inclusive Growth in Manufacturing, Agribusiness, Nutrition

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UK Nigeria Commission

By Adedapo Adesanya

The British Deputy High Commissioner, Mr Jonny Baxter, has reaffirmed the United Kingdom’s commitment to supporting inclusive economic growth and sustainable development across Nigeria as the country navigates rising energy costs and the growing urgency of the climate crisis.

He made this statement at the second edition of W.O.M.A.N by Alitheia, a high-level forum for Women in Manufacturing, Agribusiness, and Nutrition and key stakeholders, hosted by Alitheia Capital, a pioneer in gender-lens impact investing private equity firm, in collaboration with Manufacturing Africa, a UK government programme focused on attracting Foreign Direct Investment into the manufacturing sector, at his residence in Lagos.

“We recognise the indispensable role of women in this transition and are committed to expanding access to capital and capability to ensure sustainable growth. This event reflects our shared vision for inclusive and transformative development, and we are committed to supporting this journey through targeted investments and strategic private partnerships,” he said.

The event themed Scaling Sustainable Manufacturing & Energy Transition for Women-led SMEs in Africa,” featured a mix of industry leaders, women entrepreneurs, investors, policymakers, and energy solution providers to explore the pivotal role of women-led businesses in Africa’s sustainable industrial transformation.

The discussions addressed the acute pressures SMEs face amid surging fuel prices and electricity tariffs – conditions that have made sustainable energy adoption both an environmental and economic imperative. Insights from Alitheia’s own portfolio reveals that adopting renewable energy can cut operational costs by as much as 60%, underscoring the financial viability of clean energy for scaling women-led businesses.

Participants examined practical pathways for women entrepreneurs to access clean energy solutions, scale sustainable manufacturing practices, and contribute meaningfully to Africa’s green economy.

Also speaking, the Co-Founder and Managing Partner at Alitheia Capital, Mrs Tokunboh Ishmael said, “We are no longer just talking about sustainability as a nice-to-have. It’s an economic imperative, especially for women entrepreneurs at the heart of Nigeria’s industrial transformation and through W.O.M.A.N by Alitheia, we’re not only spotlighting solutions—we’re scaling them.”

“In our own portfolio, we’ve seen up to a 60 per cent reduction in energy costs among businesses that have adopted clean energy. This is proof that green transition is not only possible but profitable,” she added.

The event also featured keynote addresses and panel discussions with industry leaders including Yemisi Iranloye (CEO, Psaltry), Affiong Williams (CEO, ReelFruit), Temilola Adepetun (Managing Director, SKLD), James Fabola (CFO, Arnergy Solar), Bukola Badmos (Executive Director & CFO, Starsight Energy), and Sarah Ogbewey, (Head, Strategic Partnerships, Renewable Energy & Mobility, Sterling Bank).

Alitheia Capital also launched Nzinga, its SME capacity-building platform designed to equip entrepreneurs with tools for scaling their businesses sustainably.

In parallel, Manufacturing Africa unveiled its Green Business Building (GBB) accelerator, which will drive the growth of green businesses through strategic support on core business problems, leading to the development of an ecosystem for green manufacturing and green jobs in Nigeria.

There was also an ESG (Environmental, Social, and Governance) knowledge session, exhibitions from green energy and manufacturing solution providers, and a resounding call to action: expand access to capital, strengthen ecosystems, and enable policy that supports inclusive green industrialization.

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Lafarge Africa Champions Sustainable Practices for Cleaner Environment

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Lafarge Africa Substainable Practices

By Modupe Gbadeyanka

A notable cement maker in Nigeria, Lafarge Africa Plc, has scaled up action to beat plastic pollution through circular economy.

The company, in commemoration of World Environment Day 2025, reaffirmed its commitment to tackling Nigeria’s plastic waste crisis.

In a statement, Lafarge Africa said one of its strategies of addressing the waste pollution is by adopting scalable and circular economy practices across its host communities in Lagos, Sagamu, Ewekoro, Ashaka and Mfamosing.

Another is by designing impactful initiatives and engaging in vital awareness campaigns on waste segregation and PET bottle recycling, demonstrating how plastic waste can be recycled and transformed into useful items.

During this year’s World Environment Day themed Beat Plastic Pollution, the cement miller held environmental sensitization campaigns at its Ashaka and Ewekoro factories.

It also carried out tree planting activities in communities like Lapeleke in Ogun State and Mfamosing in Cross River State to support ecosystem restoration and climate action efforts, as well as a clean-up exercise at the community markets.

“At Lafarge Africa, we have never believed in doing business at the expense of the environment. We continue to rethink our processes, invest in innovation, and ensure that sustainability remains at the core of our strategy.

“I am proud to say that we continue to lead the way in circular economy solutions through Geocycle,” the chief executive of Lafarge Africa, Mr Lolu Alade-Akinyemi, said.

On her part, the Director of Health, Safety and Environment at Lafarge Africa, Ms Rachael Ezembakwe, said, “We are focused on minimizing our footprint and ensuring that our operations do not become a burden to the communities we serve.”

“Let us all remember that we are protecting the environment not just for ourselves, but for the future of our children,” she said.

Delivering the keynote address, the Special Adviser to the Lagos State Governor on Climate Change and Circular Economy, Ms Titilayo Oshodi, noted that while Lagos State government continues to drive waste reforms through education, behavioural change and recycling incentives, partnerships with companies like Lafarge Africa are essential to scaling impact.

In the same vein, the Commissioner for Environment in Cross River State, Mr Moses Osogi, expressed gratitude to Lafarge Africa for its continued commitment to protecting the environment; acknowledging the company’s numerous initiatives to help create healthier, more resilient communities for present and future generations.

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