Mogo has financed more than 500,000 smartphones across East Africa in just 14 months, underscoring the growing demand for affordable digital credit and flexible payment solutions in the region. The milestone, announced by the company, reflects the increasing role of device financing in expanding access to smartphones and supporting digital inclusion among underserved consumers.
In Uganda alone, Mogo financed more than 250,000 smartphones during the same period, accounting for over half of the company’s regional total. The growth has been driven by fast digital loan approvals, an expanding network of retail partners, and increasing demand for affordable financing options that enable customers to acquire smartphones through manageable daily instalments.
“We’re thrilled to have funded more than 500,000 smartphones across East Africa in such a short time,” Brian Nyanga, Head of Sales, Device Financing at Mogo Uganda, said in a press statement. “In both Kenya and Uganda, we’ve already crossed the 200,000 milestone, which clearly shows the strong market demand for affordable and flexible smartphone financing options.”
“What really makes Mogo stand out is the speed and simplicity of our process,” adds Nyanga. “Customers simply walk into a store, pick their device, complete a quick digital application, and leave with their new phone within minutes.”
Also read: MOGO Uganda launches a smartphone loan service to boost penetration in the country
Mogo in Uganda has partnered with Transsion’s smartphone brands, including TECNO, Infinix, and itel, as well as Airtel Uganda, to expand access to affordable, quality devices across low and middle-income households.
The strong performance reflects rising demand for smartphones, which have become essential tools for communication, business, education, and access to financial services. Mogo is now targeting one million customers across East Africa while continuing to expand partnerships with original equipment manufacturers (OEMs) to widen device choice for consumers.
“Our goal is to make smartphones accessible to more people, regardless of their income level,” said Nyanga. “Many customers cannot afford to pay the full price upfront, so our financing model helps remove that barrier and make ownership easier.”
The Asset Financier has also expanded its retail network, working with more than 500 outlets and multiple dealers across the region to improve access to devices in both urban and rural markets.
“We are continuing to expand our reach by working with partners who connect with customers across various market segments. Our core focus is to ensure smartphones are widely available and affordable for everyone,” said Nyanga.
Under Mogo’s smartphone financing programme, customers can access a device by presenting a valid National ID and making an upfront deposit of between 25% and 32%. The outstanding balance is then repaid through manageable daily instalments over a period of up to 12 months via the MyMogo App.
