Mogo Uganda, part of the global Eleving Group, has announced a major milestone — financing over 100,000 smartphones within just 200 days since the launch of its smartphone loan product in April 2025.
The milestone underscores Mogo’s rapid growth and its expanding role in promoting digital inclusion and financial accessibility across Uganda.
At the product’s launch earlier this year, Tomas Sudnius, Regional CEO for Eleving Group’s Asia and Africa hub, emphasized the company’s mission to enhance economic mobility through innovative and inclusive financing solutions.
“Uganda’s potential is vast, driven by a young and rapidly developing population where many still lack access to smartphones,” Sudnius said. “Access to a smartphone means access to global information and technology — empowering Ugandans and accelerating national development.”
Since its rollout, Mogo’s smartphone financing product has experienced exponential growth — from 284 smartphones financed in April to over 30,000 by September, marking a 10,500% increase in just five months.
Monthly growth surged by 736% in May, 97% in June, and over 100% in both July and August, reflecting the strong nationwide demand for affordable smartphone ownership.
“This milestone demonstrates that when we combine affordable financing, reliable smartphones, and seamless connectivity, we unlock massive social and economic impact,” said Mikhail Vydryn, CEO of Mogo Uganda. “Reaching 100,000 smartphones in 200 days is proof of progress and momentum in the right direction.”
Mogo’s smartphone loan product allows customers to own a device with an initial deposit starting at UGX 80,000, followed by flexible repayment options — daily, weekly, or monthly — from as low as UGX 848 per day.
To qualify, customers need only a national ID and a mobile-registered Airtel SIM card, ensuring inclusivity and accessibility for all Ugandans, including those without traditional banking access.
The success of the program is driven by key partnerships with Transsion Holdings — the parent company of Tecno, Infinix, and itel — for smartphone supply, and Airtel Uganda, which provides 3 GB of free data per month for three months to every new Mogo smartphone customer.
Mogo Uganda says it now operates in all districts nationwide, with product launches in every major city. Each financed smartphone, the company notes, represents a Ugandan gaining access to education, digital tools for business, and financial inclusion.
