Climate love review

COP28 UAE President-Designate visits award-winning Kenyan fintech leader M-KOPA.

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Tabitha Kimani

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M-KOPA

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M-KOPA, one of the fastest growing companies in Africa, is one of 106 past winners of the Zayed Sustainability Prize, the UAE’s pioneering award that recognizes groundbreaking contributions across the fields of health, food, energy, water and climate action.
During a visit to M-KOPA, one of Africa’s leading fintech platforms, COP28 President-Designate and UAE Minister of Industry and Advanced Technology, Dr. Sultan Ahmed Al Jaber, highlighted the importance of small and medium-sized enterprises in creating technologies that create lasting positive change in vulnerable and remote communities, while helping to meet our climate ambitions and keep 1.5C within reach.
The moment also shined a spotlight on the work of M-KOPA and other past winners of the Zayed Sustainability Prize, which have been addressing climate-related challenges in vulnerable countries around the world. In line with the UAE’s own priorities, they have been taking important steps to reform land use, transform food systems and ensure a pragmatic energy transition.
Since its founding in 2010, M-KOPA has reduced more than 2 million tonnes of carbon dioxide emissions, connected 400,000 first-time Internet users, and served over 3 million customers across sub-Saharan Africa. To achieve this, the company has built one of the world’s most advanced connected financing platforms, deploying US $1 billion in credit to the financially excluded. The company has also provided extensive training and employment, generating more than US $180 million in extra income for its sales agents.
M-KOPA’s flexible credit model allows individuals to pay a small deposit and get instant access to everyday essentials, including electric motorcycles, solar power systems, smartphones and then graduate to digital financial services such as loans and health insurance. Most recently, the company successfully closed over $200m in sustainability-linked debt financing to to drive women’s financial inclusion and reduce greenhouse gas emissions in its East African markets by further developing its solar products offering, making a meaningful contribution to fighting climate change.
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https://www.howwemadeitinafrica.com/cop28-uae-president-designate-visits-award-winning-kenyan-fintech-leader-m-kopa/155058/



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