Asset financier Mogo has financed more than 500,000 smartphones across East Africa in 14 months, reflecting growing demand for affordable digital credit and flexible payment options among consumers seeking easier access to mobile technology.
The company said its “lipa mdogo mdogo” payment model, which allows customers to acquire smartphones through small instalments, has helped reduce the financial pressure of paying for devices upfront.
In Kenya, Mogo has financed more than 200,000 smartphones within nine months, driven by rapid digital approvals, expanded retail partnerships and increasing adoption of instalment-based payment plans.
The milestone follows the company’s entry into smartphone financing in Kenya in August 2025 as it sought to expand beyond traditional asset financing.
Mogo has partnered with smartphone manufacturers including TECNO, Infinix, itel and Oppo to widen access to devices among low- and middle-income households.
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“Crossing half a million smartphones financed across East Africa tells you something important about where demand is heading,” said Mogo Kenya Sales Operations Manager Fred Muoka.
He said many consumers require smartphones for daily activities but cannot afford the full cost immediately.
“What sets Mogo apart is the speed and simplicity of our process. Customers walk into a shop, choose a device, complete a fully digital application and walk away with their phone within minutes,” Muoka said.
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The growth comes as smartphones become increasingly essential tools for communication, education, business operations and access to digital financial services.
Data from the Communications Authority of Kenya shows active mobile subscriptions rose by 7.4 percent in the third quarter of the 2025/26 financial year to reach 84.1 million, pushing mobile penetration to 157.7 percent.
Smartphone penetration has also climbed, with nearly 48.7 million smartphones actively connected to mobile networks, representing 92.9 percent penetration.
Mogo said it has made smartphone financing a key part of its growth strategy as consumers increasingly seek flexible ways to manage the rising cost of digital devices.
“Our aim is to ensure more people can access quality smartphones regardless of income level,” Muoka said.
The company has expanded its retail network to more than 2,000 dealers across the region, allowing customers in both urban and rural areas to access financed devices.
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Smartphone manufacturers have welcomed the partnership, saying affordable financing is helping accelerate digital inclusion.
TECNO Mobile Operations Manager Wycliffe Otieno said the collaboration was enabling more people to stay connected and access economic opportunities through technology.
“This partnership allows more people to own smartphones and stay connected to family, friends and economic opportunities,” he said.
Under the financing model, customers are required to provide a national identification document and a six-month M-Pesa statement. They pay an initial deposit ranging between 23 and 35 percent, with the remaining balance repaid through daily instalments of up to 12 months via the Mogo App.
Smartphone dealers say the model has attracted demand from small business owners, students and first-time smartphone users.
“Many customers who visit our shop want quality smartphones but struggle with the upfront cost,” said Nairobi-based dealer Morris Mwaura.
The expansion of smartphone financing highlights the growing role of alternative credit models in widening access to digital tools across East Africa, where consumers are increasingly turning to instalment payments to afford essential technology.
