Launched in 2011, M-KOPA Solar is a “pay-as-you-go,” mobile phone–enabled home solar energy services for off-grid customers. The idea is mostly involved around the fact that more Africans are using mobile devices as their main form of payment.
The business model is extremely successful amongst Africans by selling solar panels to rural residents and providing them with credit. After paying a deposit of around $35, M-KOPA users are given a a solar panel, two LED bulbs, an LED flashlight, a rechargeable radio, and phone-charging adaptors to install at their homes. Daily payments are made through M-PESA, a mobile phone based money system on their cell phone, and the phone they use can vary whether it’s an older or newer device. [Read more…]