Kenya’s M-KOPA launches SOLAPESA to advance cash to its off-grid customers

M-KOPA, Kenyan-based pay-as-you-go off-grid solar lender has launched a new cash loan product, SOLAPESA in a move the firm says will upgrade its customers’ lives across the country using their repayments history as well as widen its revenue base.

The firm has been working on the cash loan product for a quiet a while and has now launched it to its customers allowing them to receive loans by either sending an SMS to 22624 or visiting an M-KOPA service center for details.

The new product expansion is also be due to that fact that there has been rapid expansion of the off-grid solar market initially driven by solar lanterns and basic solar home systems.  However, the growth of the solar home system segment was not just because there was a huge market but was largely been driven by pay-as-you-go model which allows customers to pay for the solar home systems in installments.

Source: TechMoran



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