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44% of East Africans Improve Financial Habits with Smartphone Financing, Study Reveals
East Africa’s informal economy, where most workers lack traditional credit options, creates barriers to smartphone ownership.
A 2024 GeoPoll study, supported by Watu Credit, underscores the economic benefits of smartphone financing in East Africa.
The research reveals that 40% of customers who purchased Samsung smartphones through Watu’s flexible payment plans reported higher incomes.
Additionally, 42% improved their digital proficiency, and 44% adopted better financial practices, demonstrating the far-reaching impact of affordable technology access.
East Africa’s informal economy, where most workers lack traditional credit options, creates barriers to smartphone ownership. Watu’s financing model addresses this by offering Samsung devices through manageable daily or weekly mobile money payments, designed to match the income patterns of informal workers.
In Kenya, this approach has led to a historic shift, with credit-based smartphone sales overtaking cash transactions for the first time. The Watu-Samsung partnership spans four key markets: Kenya, Uganda, Tanzania, and the Democratic Republic of Congo.
Each market reflects unique adoption patterns. In Tanzania, users are moving directly from feature phones to smartphones, gaining access to digital services like mobile money. Uganda’s gig workers and entrepreneurs are embracing smartphones to fuel their businesses, while the DRC’s urban underserved areas benefit from Watu’s dealer-led distribution network.
For these customers, smartphones are vital business tools, enabling digital payments, e-commerce management, expense tracking, and content creation for income. Samsung’s popular models, with enhanced storage, battery life, and multitasking capabilities, meet the needs of entrepreneurs in the informal sector.
Watu’s financing model extends beyond smartphones to include mobility solutions and digital tools, fostering greater inclusion in East Africa’s digital economy.