Kenya, June 29, 2026 - Kenya's growing appetite for affordable smartphones is fuelling a boom in asset financing, with digital lender Mogo saying it has financed more than 200,000 smartphones in the country within just nine months as consumers increasingly turn to flexible payment plans to cope with the high cost of devices.
The company said the Kenyan milestone forms part of more than 500,000 smartphones financed across East Africa in the last 14 months, underlining the rapid uptake of "lipa mdogo mdogo" financing models that are widening access to digital services.
The growth comes at a time when smartphones have become indispensable for accessing mobile banking, e-commerce, education, government services and digital jobs, even as rising living costs continue to put quality devices beyond the reach of many households.
Mogo entered Kenya's smartphone financing market in August 2025 and has since partnered with leading handset manufacturers, including TECNO, Infinix, itel and Oppo, to offer customers affordable repayment plans.
"Crossing half a million smartphones financed across East Africa in 14 months tells you something important about where demand is heading. In Kenya, we have surpassed 200,000 devices financed, driven by customers who need quality smartphones but cannot absorb the full cost upfront. Our process and product remove that barrier," said Mogo Kenya Sales Operations Manager Fred Muoka.
He attributed the rapid growth to a fully digital approval process that enables customers to walk into a retail outlet, choose a phone, complete an application and leave with the device within minutes.
"What sets Mogo apart is the speed and simplicity of our process. Customers walk into a shop, choose a device, complete a fully digital application and walk away with their phone within minutes," Muoka said.
He noted that smartphone financing has now become one of the company's key growth areas as demand for flexible credit solutions continues to rise.
"Our aim is to ensure more people can access quality smartphones regardless of income level. Many customers are unable to afford upfront payments, and our model helps ease that burden," he said.
The company has also expanded its distribution network to more than 2,000 dealers across East Africa, enabling customers in both urban and rural areas to access financed devices.