Browsing: financing

M-KOPA CEO Jesse Moore with staff in M-Kopa’s Kisumu office. www.theexchange.africa
  • M-KOPA enables underbanked customers in select African markets to access a broad range of products and services without collateral or a guarantor.
  • M-KOPA has raised $190 million over the past decade
  • M-KOPA is known majorly for its pay-as-you-go (PAYG) financing model that allows customers to build ownership of appliances over time by paying an initial deposit followed by flexible micro-payments
  • M-KOPA is looking to expand its flexible daily and weekly payments model by scaling financial services products such as health insurance, cash loans and BNPL merchant partnerships

M-KOPA began commercial sales in Kenya in October 2012 following 2 years of piloting and development.

The young startup expanded to Uganda a year later and commenced operations in Tanzania in late 2014. 

The company, led by co-founder and CEO Jesse Moore started with solar-power home systems targeted at lower-income and rural customers without electricity in Kenya, Tanzania and Uganda.

Known majorly for

Equity Bank Kenya and AGCO have signed a partnership agreement that will see their customers get up to 80 per cent financing.

AGCO is an American Company which owns the Massey Ferguson brand.

The credit is payable within 48 months on the Massey Ferguson tractors and accompanying implements.

Mechanising farmers

Equity Bank Kenya Associate Director- Credit, Sam Ndung’u, indicated that the Bank is partnering with AGCO, one of the biggest agricultural machinery companies globally to enable farmers mechanise affordably.

Through the sole franchise holder, FMD East Africa, financing will be provided to both businesses and individuals for Massey Ferguson tractors and complimenting implements.

“We share a common goal with AGCO which is to empower SMEs and especially those in the agribusiness value chain from farmers, to processors, with the aim of assisting in the achievement of food security on the continent,” said Ndung’u.

He added that this partnership will go …