steven maseka 
- Mogo enters smartphone financing market to expand access to quality gadgets in Kenya;
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 enables customers to acquire a smartphone and pay in small daily instalments spread over up to 12 months, easing the burden of high upfront costs that have traditionally limited access to digital services.
The company has already 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 that ensures responsible repayment.”
Customers select a preferred device from participating phone shops, present a national ID and a six-month M-Pesa statement for verification, and once approved, pay a deposit that typically ranges between 23 and 35 percent. The remaining balance is spread into manageable daily repayments over a period of up to twelve 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 shift 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 smart devices as the biggest obstacle to accessing the internet.
This challenge has been intensified by the rising global cost of smartphones.
Market analysis indicates that average smartphone prices in Kenya have nearly tripled since 2019, placing many new devices out of reach for households that rely on daily income. “Lipa mdogo mdogo” financing arrangements have therefore become essential for most Kenyans.
The 2024 Financial Access Survey by Central Bank of Kenya (CBK) shows that such accounts have grown from about 580,000 in 2021 to more than 1.7 million in 2024, helping millions of Kenyans access quality handsets without large upfront payments.
MOGO’s entry into the phone financing market responds directly to this need while supporting broader digital inclusion goals.
“The company also applies responsible lending measures, limiting financing to customers aged 21 and above and ensuring borrowers do not carry multiple overlapping obligations within the MOGO ecosystem.
When customers experience unforeseen challenges, MOGO offers options to restructure instalments so that they can keep their device and maintain a manageable repayment plan,” added Mr Muoka.
