Kampala, Uganda — Mogo, East Africa's leading asset financier, has financed more than 500,000 smartphones across the region in just 14 months, underscoring growing demand for affordable digital credit and flexible payment plans that are helping consumers cope with rising economic pressures, it said on June 15 in a media release.
Uganda has emerged as one of the company's strongest markets, accounting for more than half of all smartphones financed during the period. The growth has been driven by Mogo's fast digital approval process, an expanding retail network, and affordable repayment plans that enable customers to acquire smartphones through small daily installments.
To expand access to quality devices, Mogo has partnered with Transsion brands TECNO, Infinix and itel, as well as Airtel Uganda, making smartphones more accessible to low- and middle-income households across the country.
"We're thrilled to have funded more than 500,000 smartphones across East Africa in such a short time," said Brian Nyanga, head of sales - device financing at Mogo Uganda.
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"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."
Nyanga said the company's success is largely driven by the simplicity and speed of its financing process.
"What really makes Mogo stand out is the speed and simplicity of our process. Customers simply walk into a store, pick their device, complete a quick digital application, and leave with their new phone within minutes," he said.
The milestone comes amid rising smartphone demand across East Africa, where mobile devices have become essential tools for communication, education, business and access to digital financial services.
Mogo is now targeting one million customers across the region while expanding partnerships with smartphone manufacturers and distributors to increase device availability and consumer choice.
"Our goal is to make quality smartphones accessible to more people, regardless of their income level," Nyanga said, "Many customers cannot afford to pay the full price upfront, so our financing model helps remove that barrier and make ownership easier."
The company has also expanded its retail footprint, partnering with more than 500 outlets and dealers across East Africa to improve access to smartphones in both urban and rural communities.
"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," he added.
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Industry data indicates that smartphone affordability remains a challenge for many consumers. Current market listings show average smartphone prices of approximately Shs 825,000 for TECNO devices, Shs 750,000 for Infinix smartphones and Shs 350,000 for itel handsets. These estimates are based on pricing data from Mobile57 Uganda and product listings on Jumia Uganda.
To qualify for a Mogo smartphone loan, customers are required to present a national identification card and pay an initial deposit of between 25 and 32% of the device value. The remaining balance is then repaid through daily installments for up to 12 months using the MyMogo App.
