Mogo, a prominent asset financier in East Africa, has reported financing over 500,000 smartphones in the region within 14 months, indicating a significant demand for affordable digital credit and flexible payment options. Notably, Uganda accounts for more than half of these financed smartphones during the same timeframe.

Absa Bank Kenya and Unilever Kenya have entered into a KSh 4 billion financing agreement aimed at improving access to working capital for distributors and retailers. This initiative is intended to enhance Kenya's consumer goods value chain and support the growth of small and medium-sized enterprises (SMEs).

M-KOPA Uganda has unlocked over Shs1 trillion in cumulative credit for more than one million customers since its inception in 2013. This milestone highlights the company's efforts to enhance access to smartphones and digital financial services for Ugandans who are typically excluded from traditional banking systems. The announcement also includes the launch of new upgrade benefits for customers.

The Uganda Communications Commission (UCC) allocated spectrum for commercial 5G services in 2023, highlighting that the technology's potential extends beyond faster internet. However, businesses in Uganda have yet to fully leverage the capabilities of 5G, which could transform various sectors. The article explores the reasons behind this underutilization.

The rebranding of Credable to _able highlights the importance of credit infrastructure in Africa, according to TechTrends KE. While consumers typically interact with familiar financial service brands like banks and fintechs, the underlying infrastructure remains largely unseen. The Dubai-based company believes that enhancing this infrastructure presents a significant opportunity for growth in the African financial services market.

Fintech firm Avenews is enhancing farmers' access to credit in Kenya by utilizing technology and transaction data to assess creditworthiness. According to Avenews Group CEO Jonathan Tseloon, the company analyzes business records such as M-Pesa statements and bank statements, moving away from traditional security methods to improve agricultural financing.