Smartphone Financing Raises Incomes For 40% Of East African Users

A 2024 GeoPoll study commissioned by Watu Credit revealed the economic impact of smartphone financing across East Africa, with 40% of customers reporting an increase in income after accessing Samsung devices through Watu’s flexible financing model.

The study also found that 42% improved their digital skills while 44% developed better financial management habits, demonstrating the broader socioeconomic effects of making premium technology accessible through micro-payment models.

Traditional smartphone retail models often fall short in East Africa’s diverse economic landscape, where most workers operate in the informal economy without access to conventional credit.

Watu’s financing model addresses this gap by enabling customers to acquire Samsung devices through daily or weekly mobile money payments, aligning with how people actually earn their income. This approach has proven particularly effective in Kenya, where smartphone sales through credit facilities now surpass cash transactions for the first time.

The Samsung-Watu partnership operates across four strategic markets: Kenya, Uganda, Tanzania, and the Democratic Republic of Congo, each showing distinct adoption patterns. In Tanzania, customers are transitioning directly from feature phones to smartphones, unlocking mobile money and digital services for the first time. Uganda’s market demonstrates strong uptake among gig workers and entrepreneurs, while the DRC benefits from Watu’s dealer-led distribution model reaching underserved urban areas.

For customers, these devices function as business infrastructure rather than consumer electronics. Users leverage smartphones to accept digital payments, manage online shops, track expenses, and create content for income generation. Popular models offer the greater storage capacity, longer battery life, and multitasking capabilities essential for customers building businesses in the informal economy.

This partnership demonstrates how accessible financing can transform technology access across emerging markets. Beyond smartphones, Watu’s financing approach extends to mobility and digital tools, enabling underserved communities across East Africa to join the digital economy.

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