Asset financing firm, M-Kopa has broken new records after selling over one million pieces of its branded phones last year.
This number accounts for 20.9 percent of the total 4.8 million smartphones that the Communications Authority of Kenya reportedly sold to Kenyans in the year ending last September.
This achievement also means M-Kopa utilized about 69.4 percent of its production capacity, which stands at 5,000 devices produced each day. The smartphones are available through a hire purchase plan which makes them a favored option for many.
M-Kopa began local phone assembly operations in 2023 after the government imposed a 10 percent excise duty on imported smartphones and an additional 25 percent on import duty.
It is one of two firms assembling phones in Kenya, the other being East Africa Device Assembly Kenya. It is owned by a conglomerate comprising Safaricom, a Chinese phone manufacturer, Jamii Telecom and the Industrial Technology Training Company Limited.
In addition, M-Kopa announced that it has reached the milestone of providing free health insurance coverage to one million customers.
This program, introduced a year ago in partnership with Turaco Insurance, provides patients who buy an M-Kopa smartphone with complimentary inpatient health cover.
For each night spent in a registered hospital, whether public or private, the insurance pays out Sh1,000.
“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.
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