The leading fintech aims to increase the availability of second-life devices, lower carbon emissions and reduce e-waste.
9 May, 2024. Accra, Ghana. M-KOPA, the leading fintech platform, today announced the launch of its ‘M-KOPA Phone Swap’ initiative in Ghana. This initiative aims to increase the affordability and accessibility of smartphones in the region with second-life devices, a focus which will also lower carbon emissions and reduce e-waste.
Building on the successful pilot in 2021 and the official market launch in Ghana two years later, M-KOPA becomes the first in the country to offer trade-in options for pre-owned Samsung Galaxy A series devices, starting with the A04e, A14 and A22, enabling customers to unlock value from older devices no longer in use.
‘M-KOPA Phone Swap’ is a simple process, completed in minutes. Customers can visit Samsung’s dealer store Franko Trading Ent, at participating locations across Accra, followed by Gafkwa Trading in the coming weeks. Trained agents at these stores will assess their eligible Samsung Galaxy phones for functionality and cosmetic condition. Based on the assessment, a trade-in value will be offered, which customers can use as a discount towards the purchase of a new Samsung device of their choice from the participating Samsung dealer. All traded-in phones will be refurbished by M-KOPA and made available to new customers through its affordable flexible financing options.
The ‘M-KOPA Phone Swap’ initiative represents a significant step in M-KOPA’s commitment to fostering sustainable practices across its markets, with a focus on reducing its carbon footprint by encouraging the public to consider second-life devices when purchasing a smartphone. The partnership aims to accelerate the circular economy by making second-life phones available at a greater scale. By extending the lifespan of existing devices, the refurbishments will contribute to the lowering of carbon emissions and reducing e-waste associated with the production of new phones.
According to a recent study by The French Environment and Energy Management Agency (ADEME), a single refurbished phone generates 89.02% less e-waste when compared to a new phone. This translates to a reduction of 178.2g of e-waste prevented through one second-life device.
Chioma Agogo, General Manager, M-KOPA Ghana says “We are incredibly proud to be driving positive social impact and digital inclusion with the launch of ‘M-KOPA Phone Swap’ alongside our partners Samsung. Our new initiative will unlock value in unused phones for many Ghanaians and offer others the chance to own an affordable second-life device at scale. This reaffirms our commitment to promoting sustainable practices within the industry and creating ways to improve the lives of everyday people.”
“At Samsung, we believe everyone deserves the opportunity to experience the power of technology. Our partnership with M-KOPA on their Galaxy A series trade-in initiative in Ghana is a fantastic example of making our innovative devices more accessible. This program not only allows Ghanaians the opportunity to access the benefits of the connected world with a reliable and affordable Samsung Galaxy device, but also supports the critical goal of digital inclusion. We’re thrilled to be a part of this initiative and look forward to empowering more Ghanaians with the tools they need to thrive in today’s digital age.” Says Lucas Lee, Managing Director Samsung Ghana.”
M-KOPA’s fintech platform, which has operations in Kenya, Uganda, Nigeria, Ghana and South Africa, combines the power of digital micropayments with the Internet of Things (IoT) to provide customers with access to productive assets. In markets where individuals have limited pre-existing financial identities and collateral, M-KOPA’s flexible credit model allows individuals to pay a small deposit and get instant access to everyday essentials, including smartphones, and digital financial services such as loans and health insurance.
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