M-KOPA Solar the pioneer in Africa’s pay as you go solar energy space, with over 750,000 customers in Africa, kicked off operations in Nigeria in May and is closing out a great year with the launch of it’s 100 square feet shop in Ikotun, Alimosho.
To date, M-KOPA has served hundreds of customers in Lagos during a Pilot partly funded by UK Department for International Development’s Solar Nigeria Grant. Leveraging on its “end to end’ sales and distribution model to serve last mile customers, M-KOPA is using fin-tech and solar technology to reduce Nigerians reliance on the popular “better pass my neighbor” 1-2 KVA generators.
Rolake Rosiji, the Nigeria Country Manager, noted at the event “this Solar Home Set enables the every day Nigerian without stable electricity to enjoy 24 hour power using solar energy”.
She further added “I’m so pleased our customers are benefitting from our customer referral scheme. Five customers in Alimosho have earned over N25,000 each by referring friends and family to buy the product in the last three weeks alone.”
As part of its mission to build a community with its customers, M-KOPA is honoring its first 300’customers and referral agents at the shop launch event with free solar radios and solar torches.
The company is also making giant strides with strategic partnerships. On Thursday, 19th December, the company launched a partnership with Quickteller through a training event for over 200 Quickteller Paypoint agents. The partnership will ensure customers can pay easily at Quickteller paypoints and also using USSD. M-KOPA are also trialling a number of other payment solutions to make it easy and convenient for our customers to pay.
Till date, M-KOPA has raised over $130m in both equity and debt funding. Recently the company was awarded funding from the Rural Electrifcation Agency’s (REA) output based finance fund of $60million in partnership with the World Bank. M-KOPA was identified by the esteemed REA as one of companies best equipped to give Nigerians access to affordable power.
M-KOPA’s flagship product in Nigeria is a solar home system which includes a 32” TV, 16” fan, fluorescent lights for only a 10% commitment fee and repayment of the remainder over two years. The system can be locked if customers do not pay using IoT technology. M-KOPA also offers an upgrade service where customers can purchase fridges, phones and even receive cash loans after completing payment on their first purchase. Please contact 09011000002 or 09030009822 for more information.
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