A 2024 study by GeoPoll, funded by Watu Credit, reveals how smartphone financing is reshaping East Africa’s economic landscape.
The findings indicate that 40% of customers using Watu’s payment plans to acquire Samsung smartphones saw increased earnings.
Moreover, 42% enhanced their digital skills, and 44% developed stronger financial habits, highlighting the socioeconomic benefits of accessible technology.In East Africa, where informal workers dominate the economy, traditional smartphone retail often excludes those without access to formal credit.
Watu’s solution allows customers to purchase Samsung devices through small, flexible payments via mobile money, aligning with the region’s irregular income patterns.
This model has gained significant traction in Kenya, where credit-based smartphone sales have surpassed cash purchases for the first time, marking a pivotal shift in the market.
The Samsung-Watu collaboration operates in Kenya, Uganda, Tanzania, and the Democratic Republic of Congo, each with distinct adoption trends. In Tanzania, users are transitioning from feature phones to smartphones, unlocking digital services like mobile money.
Uganda sees strong demand among gig workers and small business owners, while the DRC’s underserved urban areas benefit from Watu’s dealer-driven distribution.Smartphones are more than consumer devices for these users; they are essential tools for entrepreneurship. Customers use them to manage online businesses, process digital payments, track expenses, and create content for income.
Samsung’s feature-rich models, with robust storage and battery life, support the demands of informal-sector businesses.
The partnership’s success illustrates the power of inclusive financing in expanding technology access. Watu’s approach, which also covers mobility and digital tools, is helping underserved communities join East Africa’s digital economy.
