M-KOPA achieved an impressive CAGR of 42% for the 2020-23 period. The company has accelerated even faster since 2023, delivering over 65% year-over-year revenue growth in 2024.

The firm is continuing on the same profitable growth path in 2025 and is trending to surpass half a billion USD in annual revenue this year.

As fintech continues to scale across the African continent, M-KOPA exemplifies how purpose-driven businesses with sound fundamentals can be both profitable and impactful by serving traditionally overlooked “unbanked” consumers.

The company continues to be laser focused on financing progress for non-salaried every day earners, of which there will be over 1 billion adults across Africa by 2040.

M-KOPA finances smartphones to everyday earners (with more than half its customers accessing the internet for the first time) and then delivers tailored mobile financial services through the device. M-KOPA’s smart money platform has now issued millions of affordable credit, insurance, and subscription products. Its positive impact is independently measured by third party verification experts with the results published annually on the website. 

In 2023, M-KOPA opened East Africa’s first and largest smartphone assembly factory, which is now producing over 1m smartphones annually and has created over 300 new jobs.

In 2024, the firm then introduced its own range of branded smartphones which now account for over 20% of all smartphones sold in Kenya. In 2025, the company has continued its pan African expansion and now acquires more customers outside of Kenya than in, with fast customer growth across Nigeria, Ghana, Uganda, and South Africa.

Commenting on the recognition, Jesse Moore, CEO and co-founder of M-KOPA said:

“We are thrilled to make the FT Fastest Growing Companies in Africa list for the 4th year in a row. Our growth continues to accelerate, and we now onboard a new customer to M-KOPA every 9 seconds. Thanks to Africa’s digital payment rails, we now receive 15 payments per second, which in turn creates a unique and deep dataset to understand the financial needs of everyday earners.  We are still in the early stages of scaling, with an addressable market that will surpass 1 billion people in Africa by 2040.” 

Companies are increasingly adopting AI-powered credit risk rating solutions to enhance their decision-making processes and improve accuracy in assessing creditworthiness. AI technologies enable sophisticated data analysis, predictive modeling, and real-time risk assessment, offering deeper insights into borrowers’ financial stability and credit behaviour.

For instance, in October 2023, Fintrak Software Limited, a financial technology firm based in Lagos, established a new standard in Africa’s financial sector with the launch of its innovative AI-powered credit management software solution, “Fintrak Credit 360.”

These advancements allow financial institutions to better manage risk, reduce default rates, and streamline credit evaluation processes. AI-driven innovations also support dynamic risk modeling and adaptive learning, making credit risk rating systems more responsive to changing market conditions and emerging risks.

As businesses seek to stay competitive and compliant with evolving regulations, the integration of AI into credit risk rating software provides a strategic advantage.

This growing reliance on AI technology is fueling substantial growth in the credit risk rating software market, reflecting its critical role in modern financial management.

The overall Credit Risk Rating Software Industry is classified based on the deployment mode, organization size, end-use, software, and region.

As financial institutions seek to optimize their credit portfolios, advanced risk rating tools are crucial for assessing and managing credit risk effectively.

Credit portfolio management software integrates with risk rating systems to provide comprehensive insights into portfolio performance, identify potential risks, and support strategic decision-making.

By leveraging sophisticated analytics and real-time data, these solutions enhance risk assessment accuracy and enable better credit management.

The growing focus on optimizing credit portfolios and mitigating risks drives the expansion of the market, reflecting its importance in modern financial operations.

In terms of enterprise size, the SMEs segment will witness an appreciable growth from 2024 to 2032. SMEs, often facing limited resources and higher risk exposure, benefit from advanced risk rating tools that provide accurate assessments of creditworthiness and financial stability.

These software solutions help SMEs make informed lending decisions, optimize credit terms, and reduce default rates.

By offering sophisticated analytics and streamlined processes, credit risk rating software supports SMEs in navigating complex credit environments and securing favourable financing, driving significant growth in this market segment.

The European market will exhibit a notable CAGR from 2024 to 2032. European financial institutions are adopting advanced credit risk rating solutions to comply with regulations such as Basel III and GDPR and to enhance their credit assessment capabilities.

These systems provide accurate, real-time insights into borrowers’ creditworthiness, helping banks and lenders manage risk and improve decision-making.

The rising focus on regulatory compliance and financial stability in Europe fuels demand for sophisticated credit risk rating software, reflecting its crucial role in the region’s financial landscape.

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Technological upgrades enhance the efficiency and feasibility of these storage systems, making them more attractive for large-scale energy projects.

Additionally, the ability of pumped hydro storage to balance supply and demand, support renewable energy integration, and ensure a stable power supply during peak periods addresses critical grid stability issues, further fueling market expansion.

For instance, in July 2024, SSE and Gilkes Energy announced a 50:50 joint venture to advance the Loch Fearna pumped storage hydro project in Scotland’s Great Glen.

This collaboration highlights the growing investment and interest in renewable energy storage solutions, showcasing the potential for pumped hydro projects to enhance grid stability and support renewable energy integration.

As significant players commit to such projects, it underscores the increasing importance of sustainable energy storage, potentially driving further innovations and expansions in the global market.

The pumped hydro storage industry is bifurcated based on system type and region.

The closed loop segment will experience a notable surge by 2032, attributed to its ability to provide stable, long-term energy storage with minimal environmental impact.

Closed loop systems use two reservoirs located in a closed circuit, reducing the need for natural water sources and mitigating environmental concerns.

This setup ensures reliable energy storage and generation by allowing water to be recirculated within the system.

As demand for sustainable and efficient energy storage solutions grows, closed loop pumped hydro systems are increasingly favoured.

North America pumped hydro storage market will record a remarkable CAGR from 2024 to 2032, propelled by its substantial investments in renewable energy and advanced energy storage technologies.

The region’s well-established infrastructure, supportive regulatory environment, and increasing demand for reliable and sustainable energy solutions drive the adoption of pumped hydro storage systems.

With numerous projects underway and a strong focus on enhancing grid stability and integrating renewable sources, North America will stand out as a primary contributor to the growth and development of the pumped hydro storage industry.

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