Mogo, East Africa’s leading asset financier, has expanded into smartphone financing in Kenya to make quality mobile devices more accessible and affordable.
The new offering allows customers to acquire smartphones and pay in small daily installments spread over up to 12 months—easing the burden of high upfront costs that have traditionally limited access to digital services.
So far, Mogo has financed more than 45,000 devices from Transsion brands, including Tecno, Infinix, and Itel.
> “Through device financing, Mogo is enabling access to education, entrepreneurship, and financial inclusion. A reliable smartphone is now essential to participate in today’s digital economy,” said Fred Muoka, Head of Sales, Device Financing at Mogo Kenya.
“The entire process—from device selection to approval—takes less than 30 minutes, making it one of the fastest financing options available. Customers then download the Mogo app, which ensures responsible repayment.”
Customers select their preferred device from participating phone shops, present a national ID and six-month M-Pesa statement for verification, and once approved, pay a deposit of 23–35%. The remaining balance is spread into manageable daily repayments over a period of up to 12 months.
Demand for affordable smartphones continues to rise. Recent data from the Communications Authority of Kenya shows that the country now has over 42 million smartphone users, reflecting steady growth as more people transition from basic handsets to internet-enabled devices.
However, affordability remains a major barrier. According to the 2024 GSMA report “Barriers to Smartphone Adoption: Kenya Case Study,” more than half of Kenyan mobile users cite the cost of smartphones as the biggest obstacle to internet access—a challenge compounded by the rising global cost of devices.
Market analysis indicates that average smartphone prices in Kenya have nearly tripled since 2019, placing many new devices out of reach for households relying on daily income. As a result, “lipa mdogo mdogo” (pay-later) financing models have become essential for millions of Kenyans.
The 2024 Financial Access Survey by the Central Bank of Kenya shows that such financing accounts grew from about 580,000 in 2021 to more than 1.7 million in 2024, enabling more Kenyans to access quality handsets without large upfront payments.
Mogo’s entry into the smartphone financing market directly responds to this need while supporting Kenya’s broader digital inclusion goals.
> “We apply responsible lending measures—financing customers aged 21 and above and ensuring borrowers do not hold multiple overlapping obligations within the Mogo ecosystem. When customers face unforeseen challenges, we offer installment restructuring options so they can retain their device and maintain a manageable repayment plan,” added Mr. Muoka.