MOGO Uganda has reached a remarkable milestone, financing over 100,000 smartphones in just 200 days since the launch of its smartphone-loans product in April 2025. This achievement marks one of the fastest growth trajectories in the company’s history and reinforces its commitment to driving digital inclusion across Uganda. The success reflects the nation’s strong demand for affordable digital access and aligns with MOGO’s parent company, Eleving Vehicle Finance’s, pan-African vision of enabling economic mobility through smart and inclusive financing solutions.
The smartphone-loans programme was launched to address a critical gap in the Ugandan market: affordability. While smartphones are essential tools for communication, education, and commerce, many Ugandans remain unable to afford one upfront. MOGO’s innovative model enables customers to acquire a smartphone with an initial deposit as low as UGX 80,000, followed by flexible daily, weekly, or monthly instalments starting from just UGX 848. The process is entirely collateral-free and requires only a national ID and a mobile-money-registered SIM card, with approvals often completed in under 15 minutes. Through strategic partnerships with TECNO, Infinix, and itel (under Transsion Holdings), and Airtel Uganda, MOGO ensures reliable device quality and seamless connectivity for every customer.
Since its inception, the programme has experienced extraordinary growth, underscoring the strong market response. Beginning with 284 smartphones financed in April, the numbers rose exponentially—up 736% in May to 2,375 units, nearly doubling again in June with a 97% increase to 4,682 units, and surging by 125% in July to over 10,500 devices. By August, the figures more than doubled once more, reaching 24,206 units, and continued climbing in September with over 30,000 financed smartphones. Overall, MOGO Uganda recorded a growth rate exceeding 10,500% in just five months, an exceptional performance that validates the company’s customer-first approach and the practicality of its affordable financing structure.
According to Mikhail Vydryn, CEO of MOGO Uganda, “This milestone demonstrates that when we combine affordable financing, reliable smartphones, and seamless connectivity, we unlock massive social and economic impact. Reaching 100,000 smartphones financed in 200 days is not just a commercial performance marker—it is proof that digital inclusion at scale is possible.” Each financed smartphone represents more than a transaction; it symbolizes empowerment—enabling individuals to access mobile banking, digital education, online marketplaces, and social connectivity. With Airtel Uganda providing onboarding data bundles, customers are digitally enabled from the moment they receive their devices.
Looking ahead, MOGO Uganda plans to expand its smartphone-loans programme to more districts nationwide while deepening partnerships with key ecosystem players. With an approach built on accessibility, affordability, and efficiency, MOGO Uganda is helping bridge the digital divide and fostering a more connected economy. Its continued growth is a testament to how financial innovation can transform lives and create lasting social impact across Uganda.
