African digital credit company M-Kopa signs $255 mln in new funding
AFRICAN financing platform M-Kopa has signed a total of $255 million in new debt and equity from Standard Bank and Sumitomo Corporation among others to fund its expansion in Sub-Saharan Africa, M-Kopa said on Monday. Founded in 2011, M-Kopa started its operations in Kenya and has expanded to Uganda, Nigeria and Ghana and says it has to date it has helped 3 million customers to access over $1 billion in credit to buy items like smartphones, solar power systems and health insurance. M-Kopa said Standard Bank led and arranged $200 million in sustainability-linked debt financing, while Sumitomo had injected $36.5 million in…