President Barack Obama talks with June Muli, head of Customer Care at M-Kopa, about solar power during the Power Africa Innovation Fair, an initiative to increase the number of people with access to power in sub-Saharan Africa.
What a chance for young entrepreneurs!
by Kevin D. Reeder, M-Kopa, Head of Business Analytics
In Kenya, where around 77% of the population has no access to electricity, M-Kopa’s pay-as-you-go solar-power machines require no installation and not even a bank account. Since M-Kopa launched in 2013, about 250,000 households in East Africa have leased its devices, paying minimal amounts daily for power (often via smartphone through M-Pesa) and junking other, more toxic power sources like kerosene burners. The model is “eminently scalable,” co-founder Jesse Moore said recently. “We’re really just getting started.”
M-Kopa # 27. ( http://www.m-kopa.com )
About Fortune's first "Change the World" list.
For Fortune’s first “Change the World” list, we’ve found 51 companies that have made a sizable impact on major global social or environmental problems as part of their competitive strategy. This list is not meant to be a ranking of the overall “goodness” of companies or of their “social responsibility.” Big corporations are complex operations that affect the world in myriad ways. The goal here is simply to shine a spotlight on instances where companies are doing good as part of their profit-making strategy, and to shed new light on the power of capitalism to improve the human condition.
To assemble our list, the editors of Fortune and FSG, a nonprofit social-impact consulting firm, reached out to dozens of business, academic, and nonprofit experts around the world, asking for their recommendations. Fortune and a joint team from FSG and the Shared Value Initiative then vetted more than 200 nominees. In our evaluation, we considered four criteria: the degree of business innovation involved, the measurable impact at scale on an important social challenge, the contribution of the shared-value activities to the company’s profitability and competitive advantage, and the significance of the shared value effort to the overall business. A team of journalists from Fortune then further vetted each of the nominees and reported on their impact. The final list of 51 was selected and ranked by the editors of Fortune based on the magazine’s own reporting and by the analysis provided.