Mogo, an asset financier in East Africa, has facilitated the acquisition of over 100,000 affordable, high-quality smartphones by Kenyans within just four months of introducing its new device-financing product.
In collaboration with Transsion brands, including TECNO, itel, and Infinix, Mogo offers flexible smartphone-financing plans that can be paid off over 12 months through small, daily installments.
The aim is to make quality smartphones accessible to more households, especially those unable to afford large upfront costs.
“The remarkable uptake indicates that Mogo is addressing a genuine market demand. Customers seek reliable, affordable smartphones to conduct their businesses online and stay connected with their families. We are proud to facilitate this,” stated Fred Muoka, Head of Sales – Device Financing, Mogo Kenya.
The strong uptake is also bolstered by Mogo’s expanding financial literacy program, delivered through boda boda chairpersons trained in responsible borrowing and loan management.
These chairpersons, in turn, educate their members, helping them maintain financial health.
In the past two months alone, Mogo has provided financial literacy training to over 300 boda boda chairpersons in the Coastal region. The financing process is quick and convenient.
From selecting a device to receiving approval, the entire process takes less than 23 minutes. Customers then use the Mogo App to monitor their repayment schedule and manage their accounts responsibly.
To qualify, customers simply select 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.
