Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

  • Lagos, Nigeria
  • Info@bhluemountain.com
  • Office Hours: 8:00 AM – 5:00 PM Mon - Fri
  • October 14 2024

M-KOPA appoints former Nokia CEO Rajeev Suri as new board chairman

M-KOPA Holding, a Kenyan startup that offers financing for smartphones and solar systems, has appointed former Nokia CEO Rajeev Suri as its new board chair. He resumes on December 1, 2024, and will replace Elizabeth Littlefield. “We are thrilled to welcome Rajeev to the board as we enter this next phase of growth for the business,” said Jesse Moore, M-KOPA CEO and co-founder.“His proven leadership in steering international companies through periods of rapid expansion will be invaluable.”  Suri also served as CEO of Inmarsat, a UK-based satellite communication firm. He chairs the board at Digicel, a Jamaican telco, and is a director at Singtel, a Singaporean telco. He joins M-KOPA as it expands its footprint after raising $255 million in 2023. The company also faces millions of dollars in back taxes following a ruling by a Kenyan tax tribunal. In September 2024, M-KOPA claimed it reached five million users and disbursed over $1.5 billion in credit across its five markets, including Kenya, Uganda, Ghana, Nigeria, and South Africa. “M-KOPA represents one of the most exciting fintech propositions, not only in Africa but globally. Their use of leading-edge technologies and AI to solve the critical challenge of digital and financial inclusion is compelling and has the potential to change the way we think about consumers in emerging markets,” said Suri. Founded in 2010, M-KOPA offers solar power systems, smartphones, and electric bikes, which users pay for in small installments. The company has enjoyed an impressive growth in the past year, adding two million customers in the last 15 months.  The fintech is working to hold its lead in PAYGO as more entrants, like D.Light, Sun King, and Aspira, move to capture the sector that targets low-income earners. The company has raised over $590 million in venture funding across seven rounds, with the latest being a $51 million debt financing in May 2024.

Read More