Financier ups competition with 100,000 handset financings in four months

Mogo Head of Sales, Fred Muoka, with Mogo customer, Nancy Matiko, during an onboarding session. [Courtesy]

Mobile money has become a vital tool for vulnerable populations in low- and middle-income countries, revolutionising how they save, invest, spend and manage their financial lives. According to the GSMA's State of the Industry Report on Mobile Money (2024), it has also driven progress towards the UN's Sustainable Development Goals (SDGs), enabling households to lift themselves out of poverty.

While mobile money can be accessed through basic feature phones, its true potential lies in the advanced functionalities offered by smartphones. Smartphone device financing is one way to bridge this gap and promote financial inclusion. By offering smartphone financing options, individuals previously excluded from the digital revolution can participate and benefit from all the opportunities mobile money offers.