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A recent GeoPoll study, commissioned by Watu Credit in 2024, highlights the transformative impact of smartphone financing on East African economies.
The research shows that 40% of customers who accessed Samsung smartphones through Watu’s flexible payment plans reported higher incomes. Additionally, 42% of users improved their digital literacy, while 44% adopted better financial management practices, underscoring the ripple effects of affordable technology access in the region.
East Africa’s informal economy, where most workers lack access to traditional credit, poses challenges for conventional smartphone retail. Watu’s innovative model bridges this gap by offering Samsung devices through affordable daily or weekly mobile money payments tailored to irregular income patterns.
In Kenya, this approach has led to a milestone: credit-based smartphone purchases now outnumber cash transactions, signaling a shift in how consumers access technology.The Watu-Samsung partnership spans Kenya, Uganda, Tanzania, and the Democratic Republic of Congo, with each market showing unique trends.
Tanzanian users are leapfrogging from basic feature phones to smartphones, gaining access to mobile money and digital services. In Uganda, gig workers and small entrepreneurs are driving demand, while the DRC’s urban underserved communities benefit from Watu’s dealer-led distribution.For many, smartphones serve as critical business tools rather than luxury goods.
Users rely on these devices to process digital payments, manage e-commerce platforms, track finances, and create income-generating content. Samsung’s popular models, equipped with ample storage, long battery life, and multitasking features, cater to the needs of entrepreneurs navigating the informal economy.
Watu’s financing model extends beyond smartphones to include mobility and digital tools, fostering broader participation in East Africa’s digital economy. The collaboration with Samsung demonstrates how inclusive financing can unlock technology access, empower underserved communities, and drive regional economic growth.
