- Website: www.m-kopa.com
- Sector: Renewable Energy
- Countries of operations: Kenya, Uganda and Tanzania
The average African household that’s not connected to the electricity grid spends around $200 a year on kerosene, a big outlay for homes that might have an income of $2 a day. Now, thanks to M-KOPA Solar, thousands of homes across the continent have been able to switch to an alternative: solar power.
Jesse Moore, Co-founder and CEO, says: “We knew there was an opportunity to provide a better energy solution at a comparable or cheaper price. The big opportunity is to provide a first step on the energy ladder for millions of off-grid homes.” M-KOPA Solar provides solar home systems via an annual payment plan, with a deposit of $35 followed by 365 daily payments of 50 cents, paid via a mobile money service. For an extra charge, customers can use the systems to charge mobile phones or watch movies.
“Affordable energy is transformational for low-income households”
“Thanks to the sun’s rays and mobile technology, our customers can light up their homes, charge their phones and tune into the radio and TV,” says Jesse. “Affordable energy is massively transformational for low-income households as it allows better productivity, better lifestyles and the ability to power a range of productive assets.”
To date, M-KOPA Solar has helped more than 400,000 homes across East Africa replace kerosene with solar power. Since launching solar-powered digital TVs in February, more than 25,000 of the company’s customers have been tuning in to news and entertainment for the first time.
- 400,000+ homes throughout East Africa have switched to solar power thanks to M-KOPA Solar
“Our focus is on providing life-changing products and services to low-income homes, and using mobile money and affordable financing to do this,” says Jesse. “There is clearly a huge need for energy in these homes, but where mobile money is gaining ground, it opens up other areas, including entertainment, education and agribusiness.”