Watu Uganda reaches one million device financing milestone

What the report says

The Independent Uganda reported that Watu Uganda has financed one million devices through its Watu Simu smartphone financing service, a milestone the company marked at a Kampala event on July 20, 2026. The celebration also aligned with seven years since Watu Uganda entered the market in July 2019 and three years since Watu Simu was launched in July 2023.

According to the report, Watu Simu allows customers to obtain smartphones by paying a deposit and clearing the balance in instalments, rather than paying the full price at once. The company says this model has supported access for groups such as boda boda riders, traders, entrepreneurs and students who use smartphones for business communication, digital payments, stock management, market access and income generation.

The Independent cited Watu Uganda figures showing the company reached 500,000 financed devices in 2025 and doubled that number by July 2026, including more than 250,000 devices financed in the first half of 2026. Watu Uganda said its distribution network now includes 29 branches, more than 300 dealer partners, over 10,000 agents and 880 employees. The report also said more than 6,000 customers who had financed motorcycles through Watu later financed smartphones through Watu Simu.

The company reported that women make up 42% of Watu Simu’s one million customers and accounted for half of new customers as of June 2026. Watu Uganda said it is now targeting the next one million Watu Simu customers while continuing other asset-financing services, including motorcycles and electric motorcycles.