Sales of smartphone assembly parts for Africa

Improving incomes and creating a prosperous society for low-income groups in Africa through financing M-KOPA, a Fintech company in Africa

Sumitomo Corporation has invested in M-KOPA Holdings Limited (“M-KOPA”), which provides digital financial services utilising mobile money by leveraging data to underbanked individuals in Africa who have limited access to financial service due to a lack of payroll or steady income source. M-KOPA’s digital finacial service provides access to life improving productive assets like smartphones contributing to improving customers’ quality of life and increasing their incomes.

To expand its business, M-KOPA is aiming for new capital investments, expanding into new countries, and launching new services, which requires substantial funding. Therefore, we are providing financing for M-KOPA Kenya’s import transactions of SKD parts for smartphone devices. Specifically, by extending M-KOPA’s payment terms, we are helping to reduce M-KOPA’s working capital needs and support its business expansion.

Business expansion leveraging our expertise in trade finance

New Products & New Partners

We had no prior experience handling smartphone devices. Additionally, not only was M-KOPA a new client, but their supplier, HMD, was also a first-time trading partner for us. Initially, differences in business practice and culture led to misunderstandings in the preparation of contracts, shipping documents, and other business processes. Through face-to-face meetings and frequent phone calls, we maintained close communication, understood each other’s perspectives and backgrounds, and ultimately reached agreements that satisfied all parties involved.

 

 

Contributing to sustained prosperity in Africa through stable trade and the development of new infrastructure projects

We will continue to provide stable trade finance to M-KOPA, contributing to the expansion of M-KOPA’s business and the prosperity of Africa. Furthermore, we aim to develop new infrastructure projects in Africa to broaden our contributions to the region’s prosperity.