Mogo crosses 100,000 Handset Financing in 4 Months

• Mogo crosses 100,000 handset financings within 4 months of market entry;

Mogo, East Africa’s leading asset financier, has enabled Kenyans to acquire more than 100,000 affordable, high-quality smartphones within just four months of launching its new device-financing product.

Through a partnership with Transsion brands;  TECNO, itel and Infinix, Mogo is offering flexible smartphone-financing plans payable over 12 months through small, daily instalments.

The goal is to make quality smartphones accessible to more households, particularly those unable to afford large upfront payments.

“The impressive uptake shows that Mogo is meeting a real market need. Customers want reliable, affordable smartphones that allow them to run their businesses online and stay connected with their families.

We are proud to make this possible,” said Fred Muoka, Head of Sales – Device Financing, Mogo Kenya.

The strong uptake has also been supported by Mogo’s expanding financial literacy programme, delivered through boda boda chairpersons who are trained on responsible borrowing and loan management.

These chairpersons, in turn, train their members, helping them understand how to remain financially healthy.

In the past two months alone, Mogo has provided financial literacy training to more than 300 boda boda chairpersons in the Coastal region.

The financing process is fast and convenient.From selecting a device to receiving approval, the entire process takes less than 23 minutes.

Customers then use the Mogo App to track their repayment schedule and manage their accounts responsibly.

To qualify, customers simply choose a smartphone from participating shops, present their national ID and a six-month M-Pesa statement for verification, and pay a deposit of 23% to 35%.

The remaining balance is spread across manageable daily repayments for up to 12 months.