Watu Simu, a subsidiary of Pan-African asset finance provider Watu, has achieved a landmark success by selling over one million smartphones in Kenya—a significant stride in bridging the digital divide in East Africa.

Partnering with prominent device manufacturers, including Samsung Mobile, the firm financed its millionth mobile device purchase at the close of October, just 23 months after entering Kenya’s mobile asset finance market.

Reflecting on this milestone, Kevin Michuki, Head of Growth at Watu Simu, highlighted the increasing demand for accessible financing models as a major factor driving their success.

“At Watu Simu, we are celebrating this millionth customer milestone as it confirms the growing demand for sustainable financing models such as Buy Now, Pay Later products in the race to bridge the digital divide,” he said.

Michuki further elaborated on Watu Simu’s clientele, noting that over 70 per cent of customers use the smartphones for economic ventures in areas like ride-hailing, digital delivery services, and e-marketplaces, where smartphones are essential for smooth operations.

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He emphasised the firm’s commitment to empowering clients, remarking that "our customer base data confirms that most devices acquired have been deployed in active economic production sectors.”

Watu Simu’s achievement underscores a broader digital shift, as smartphone use in Kenya has spurred economic transformation.

A recent GSMA report, Driving Digital Transformation of the Economy in Kenya, projects that the country’s digital economy will add Sh662 billion to GDP by 2028, driven largely by increased smartphone usage and policy reforms to enhance digital adoption.

The report also forecasts the creation of 300,000 jobs and a tax revenue boost of Sh150 billion, spurred by digital advancements in sectors such as agriculture, manufacturing, and transport.

In line with this growth, the Communications Authority of Kenya’s (CA) latest statistics reveal a surge in mobile phone adoption, which has significantly transformed the telecommunications landscape.

The CA’s Fourth Quarter Sector Statistics Report for 2023/2024, covering April to June, shows that mobile device connections in Kenya reached 66.1 million, with a penetration rate of 128.3 per cent.

Smartphones accounted for 68.3 per cent, while feature phones trailed at 59.9 per cent, reflecting a progressive shift towards digital-ready devices.

During this period, smartphone acquisitions grew to 35.2 million, a notable increase from 34.1 million, whereas feature phone numbers declined from 31.2 million to 30.9 million, underscoring a nationwide trend toward smartphone preference.

Watu Credit, the parent company of Watu Simu, has reached over 1.5 million mobile device customers Beyond Kenya and Tanzania, making it the fastest-growing smartphone financier in sub-Saharan Africa.

By providing clients with flexible financing options on premium smartphones—often priced between Sh45,000 and Sh80,000—Watu Simu enables consumers to acquire technology essential for economic growth, marking a significant step in narrowing the digital access gap across the region.