Kenya: Rajeev Suri named as chairperson of M-KOPA

Fintech company M-KOPA has announced the appointment of Rajeev Suri as the new Chairperson of its Board, effective from December 1, 2024.

Rajeev Suri brings a wealth of experience, having previously served as the CEO of both Nokia and Inmarsat. He currently holds the role of Chairperson at Digicel and is a board director at Singtel.

“We are thrilled to welcome Rajeev to the board as we enter this next phase of growth for the business,” said Jesse Moore CEO & Co-Founder of M-KOPA. “His proven leadership in steering international companies through periods of rapid expansion will be invaluable.”

Commenting on his appointment Suri said “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. I am excited to join this team and look forward to driving impactful solutions together”

Outgoing board chair Elizabeth Littlefield will continue serving as an independent board director and chair of the ESG and Impact committee. Commenting on the outgoing chair Moore said, “We are deeply grateful to Elizabeth for her outstanding leadership over the past six years. She and the board have guided M-KOPA through significant transformation and remarkable growth. While she will be stepping down as chair, we are fortunate to have her continue with the board as an independent director.”

M-KOPA, a fintech company headquartered in the UK, specializes in providing affordable smartphones and digital financial services to emerging markets. The company operates in Nigeria, Ghana, Kenya, South Africa, and Uganda, offering financial inclusion to underserved populations.

With a unique financing model that involves daily repayments, M-KOPA enables millions of individuals who rely on daily earnings to access affordable smartphones. These devices are embedded with financial services that align with their cash flow, helping bridge the gap for those often excluded from traditional credit systems.

M-KOPA specializes in providing financed smartphones to underbanked individuals, helping them build a long-term financial relationship through its AI-driven credit analytics and smartphone app.

Suri’s appointment comes at a time when M-KOPA has achieved significant growth, boasting over 5 million customers and deploying more than US $1.5 billion in credit across five markets.