Watu Simu hits one million smartphone milestone

DAR ES SALAAM: Watu Tanzania has reached one million smartphones financed via Watu Simu, its pay-as-you-go connectivity product aimed at expanding access to digital tools and promoting financial inclusivity.

Watu is a licensed and regulated asset financing company under the Bank of Tanzania, providing loans for income-generating assets such as motorcycles for boda boda riders and smartphones to facilitate participation in the digital economy.

Speaking on the milestone, Rumisho Shikonyi, Country Manager of Watu Tanzania, said: “Smartphones are no longer consumer luxuries; they are essential tools for everyday economic activity.

Reaching one million smartphones financed through Watu Simu reflects our consistent execution and role in enabling access to assets that support productivity, livelihoods, and economic participation.”

As Watu approaches five years of operations in Tanzania, this milestone highlights the scale Watu Simu has achieved over the past three years in response to growing demand for digital access.

In Tanzania, where smartphones increasingly serve as the primary gateway to payments, services, communication, and income generation, financing one million devices marks a significant expansion of digital participation.

At this scale, Watu Simu is not enabling marginal access but supporting a substantial share of new and active engagement with the country’s digital economy.

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Smartphone access has become a key determinant of participation in the modern economy.

Watu Simu complements Watu’s established motorcycle financing business, recognising that mobility and connectivity together drive income generation: motorcycles provide physical access to work, while smartphones enable coordination, payments, communication, and access to digital platforms.

According to the Tanzania Communications Regulatory Authority (TCRA), smartphone penetration continues to grow nationally, highlighting the increasing importance of device ownership in economic participation.

Operating in 26 regions, Watu Simu has expanded smartphone access to individuals, households, and small businesses in urban and regional markets alike.

Supported by transparent repayment structures, technology-enabled systems, and strong local teams, Watu scales responsibly while maintaining regulatory compliance, protecting customers, and building long-term trust.

As Tanzania advances its digital transformation, Watu remains focused on financing the assets that enable participation in the digital economy and support sustainable livelihoods.