The app currently supports M-KOPA customers in financing Samsung and Nokia phones through a Pay-As-You-Go model. Through the app, you can make payments to unlock your device, check your account balance, and easily contact M-KOPA for assistance.
To access the app, you must be an M-KOPA customer. If you’re interested in learning how M-KOPA can help you acquire a phone, please visit our website: www.m-kopa.com.
Please note: We are not yet offering in-app cash loans in Ghana, but stay tuned—cash loans are planned to be available in 2024. Here’s a preview of the representative terms:
- Loan Amount: GH₵ 1000
- Repayment Period: 18 weeks
- Monthly Interest Rate: 4.8%
- Annual Interest Rate (APR): 58%
- No Fees, No Late Penalties
Example: If you borrow GH₵ 1000, the total interest would be GH₵ 200, to be repaid over 18 weeks. The total repayment amount will be GH₵ 1200, with GH₵ 1000 as the principal and GH₵ 200 as the interest. The interest is fixed and will not increase, even if you fall behind on payments or take longer than 18 weeks to repay. There are no additional fees or penalties—interest is the only cost of the loan.