KAMPALA, Uganda — Asset financier Mogo has financed more than 500,000 smartphones across East Africa within the past 14 months, driven by consumer demand for flexible payment plans.
Uganda accounted for more than half of the financed devices during this period. The company attributed the growth to automated digital approvals, expanding retail partnerships, and a payment model allowing consumers to buy smartphones through daily installments.
To expand device access for low- and middle-income households, the company partnered with Airtel Uganda and Transsion smartphone brands, which include Tecno, Infinix, and Itel.
Brian Nyanga, head of sales for device financing at Mogo Uganda, said the company has surpassed the 200,000 financed devices milestone in both Kenya and Uganda, underscoring the demand for flexible financing options.
Nyanga said the company relies on a streamlined point-of-sale process where customers select a device, complete a digital application, and receive approval within minutes.
The growth reflects a broader regional reliance on smartphones as essential tools for commerce, education, communication, and digital financial services. Looking ahead, Mogo plans to reach 1 million customers across East Africa by expanding its partnerships with original equipment manufacturers to offer a wider selection of devices.
The financier has built a retail network of more than 500 outlets and independent dealers across East Africa to penetrate both urban and rural markets.
To qualify for the smartphone financing program, applicants must present a national identification card and make a down payment of between 25 percent and 32 percent of the total device cost. Borrowers repay the remaining balance over a period of up to 12 months through daily installments managed via the MyMogo mobile application.
