M-Kopa buyers hit 250,000 in eastern Africa

Money Markets

 

Safaricom CEO Bob Collymore (left) and M-Kopa Solar MD Jesse Moore during the launch of the branded solar lighting product last year. PHOTO | FILE 

By GERALD ANDAE

M-Kopa Solar has supplied 250,000 households across Kenya, Uganda and Tanzania with cheap energy solutions since its inception in 2011, its promoters have said.

Managing director and co-founder Jesse Moore says the celebration of a quarter million customers is a major milestone for the firm.

“Last September, we celebrated when we achieved 100,000 customers, and a year later we are already at a quarter-million which is a great milestone in our activities,” said Mr Moore.

He said with hundreds of customers coming on board every day, the solar kit is helping East Africa to enjoy cheaper, cleaner and reliable solar power.

M-Kopa is a pay-as-you-go solar scheme where users begin using a solar kit by paying a Sh2,999 deposit, a daily fee of Sh40 via M-Pesa to access the solar-powered lamps and own the equipment after a year. This brings the overall payment to about Sh17,599.

The solar lamps are programmed in a way that they automatically switch off whenever customers default on the daily payments. The kit consists of a panel, three lamps, radio and mobile phone charging kit.

The kit has come in handy for households that are not connected to the power grid. “I purchased this system for my rural home where there is no access to electricity,” said Alex Nduati, a customer.