Nigeria has emerged as the fastest-growing market for M-KOPA, with the company unlocking over N230 billion in credit for more than one million customers, its inaugural Nigeria Impact Report said.

The report shows that Nigeria is the quickest market within M-KOPA’s operations to reach the N230 billion credit milestone, reflecting rapid adoption of smartphone financing and digital financial tools among low-income and informal workers.

Since launching operations in Nigeria in 2019, the company has focused on addressing financial exclusion by aligning credit products with the irregular income patterns of everyday earners.

According to the report, 77 per cent of customers use smartphones or digital loans obtained through M-KOPA to generate income, while 75 per cent say their earnings have increased since joining the platform.

It also found that 81 per cent of long-term customers reported improvements in household expenses, pointing to a link between sustained digital access and financial stability.

M-KOPA said it has enabled about 290,000 Nigerians to become first-time smartphone users.

Commenting on the report, General Manager of M-KOPA Nigeria, Babajide Duroshola, said the figures demonstrate how access to digital and financial tools can translate into long-term economic progress.

He noted that customers are using smartphones not only for communication, but as essential tools to manage businesses, reach suppliers, coordinate workers and market products online.