Rajeev Suri, the former CEO of Inmarsat and Nokia, has been appointed the new board chairman of M-KOPA, a fintech company focused on emerging markets. He will officially resume his duties on December 1, 2024.
Mr Suri is recognised as a leading figure in technology and telecommunications, bringing extensive experience to M-KOPA. He also serves as a board director for Singtel, a major Singaporean telecom company, and as chairman of Digicel, a telecom provider in Jamaica.
This strategic appointment aligns with M-KOPA’s mission to expand its footprint in emerging regions. The company is known for providing affordable smartphones and digital financial services to underserved consumers.
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M-KOPA reports that it has disbursed over $1.5 billion in credits to more than 5 million customers across five African countries: Nigeria, Ghana, Kenya, South Africa, and Uganda.
Rajeev Suri’s appointment will drive expansion: M-KOPA CEO
Jesse Moore, CEO and co-founder of M-KOPA, described the appointment of Mr Suri as a key executive to bolster the company’s growth across Africa. Mr Moore praised Suri’s proven track record in leading global business expansions, expressing confidence that he will replicate similar success at M-KOPA.
“As we enter this next phase of growth for the business, we are thrilled to welcome Rajeev to the board,” said Jesse Moore, CEO and co-founder of M-KOPA. “It will be really helpful to have someone with his demonstrated ability to lead global businesses through times of fast expansion.”
Mr Moore’s remarks align with M-KOPA’s goals of expanding its operations and services throughout the continent to maintain its position as the industry leader.
In his new position, Suri will collaborate with the leadership team, providing strategies and insights aimed at reinventing M-KOPA’s offerings.
His expertise is expected to play a crucial role as M-KOPA seeks new partnerships and improves its AI-powered credit analytics platform to better serve underbanked communities.
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Rajeev Suri’s remarks
Mr Suri said M-KOPA wass a leading fintech using AI tonsillectomy critical challenges.
“M-KOPA represents one of the most exciting fintech propositions, not only in Africa but globally. Their use of leading-edge technologies and AI to solve the critical challenge of digital and financial inclusion is compelling and has the potential to change the way we think about consumers in emerging markets,” the new executive said.
The company’s pay-as-you-go smartphone financing concept is based on giving low-income customers access to smart devices.
M-KOPA provides digital loans, affordable data subscriptions, insurance services through AI-driven data analytics to create long-term financial relationships with clients.
Mr Suri succeeds Elizabeth Littlefield, who will continue as an independent board director and chair of the ESG and Impact Committee.
Under Me Suri’s leadership, the business, which raised $250 million in 2023 to support its growth in its major countries, intends to look for chances to extend its reach into new areas.
However, the company faces a significant challenge, as the Kenyan Tax Appeals Tribunal recently ruled that M-KOPA must pay millions in back taxes.
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