NAIROBI, Kenya, July 14 – Asset financier Watu Credit has financed over 3 million devices within the eight African nations that it operates in.
The agency’s Head of Growth, Kevin Michuki, instructed Capital FM Business throughout an interview that the corporate seeks to develop the quantity even increased.
“This quantity is a real testomony as a result of we’re barely scratching the floor, particularly when you think about that the smartphone penetration charge is simply over 70%, and means that there’s nonetheless room to ship extra numbers,” Michuki stated.
Watu, which was based in 2015 by a Latvian, Andris Kaneps, funds motorbikes and three-wheelers in addition to vehicles.
Since then, it has financed over 2 million loans and impacted 8 million lives.
“In Kenya alone, we’re current in 47 counties however there’s nonetheless numerous development projected in these areas spanning throughout East Africa and in our new markets as nicely throughout Africa,” he added.
Through the financing, the financier has been capable of attain people dwelling in underserved areas, nearly all of whom can’t afford to accumulate the devices.
Michuki acknowledged that low-income earners have been capable of afford smartphones by buying devices by its purchase now, pay later platform.
“We have really made it simpler now by offering a pay-as-you-go platform the place prospects are allowed to pay in line with their suitability, whether or not will probably be a each day fee or a weekly fee, it’s all based mostly on buyer developments.”
