Telecom giants, Airtel Uganda have partnered with financial technology company, Mogo to help drive smartphone penetration in the country.
Speaking during the partnership launch at Four Points By Sheraton Hotel in Kampala, the Managing Director of Airtel Uganda Soumendra Sahu said as part of the partnership, members of the public will be required to pay a deposit of only 28% of the price of the phone and take it on loan.
He noted that smartphones have become part of everyone’s life and driving their penetration is meant to serve a greater purpose.
“If you see in today’s environment, the smartphone is a gateway to opportunities , a bridge to education,a platform for innovation and above all, a tool for economic empowerment. Therefore, such partnerships are important for strengthening gains that we have already made in increasing digital and financial inclusion,” he said.
“This is all part of our broader strategy to democratize access to digital tools and extend meaningful connectivity to every corner of the country.”
Japhet Aritho, Managing Director Airtel Mobile Commerce Uganda Limited said Airtel Money will make it easy for customers to use their mobile wallet to repay the smartphone loans from wherever they are.
“You only need to have money on your wallet and you will be able to make that payment easily. This is the reason we are not going to stop business or such partnerships until we get everyone financially included,” Aritho said.
He said this is part of the company’s efforts to ensure financial inclusion in Uganda.
“Financial inclusion is not only about money transfer and savings. It is also access to credit. What we are doing today is making sure every customer has access to credit so that they can afford that right and this will change their lives,” Soumendra said.
Modestus Sudnuius the CEO of Eleving Group which owns Mogo Uganda said smartphones have moved away from being only an item of luxury to a necessity, noting that offering the gadgets on credit is aimed at driving penetration.
“Uganda is a market that develops so fast but also most of its population is young. Therefore, when you have access to a smartphone, you can as well be in the US since you are getting access to the same information and will have access to the same technology. The fact that with a smartphone, everyone has access to that technology , it will enhance the development of Uganda as an economy , way faster than we think,” Sudnuius said.