steven maseka 
Branton Mutea,Deputy Country Manager,.Mogo Kenya.
- MOGO surpasses 150,000 loan milestone, injects KES 25 billion into Kenya’s economy;
MOGO, East Africa’s leading asset financier, has reached a significant milestone, issuing its 150,000th loan.
Over the past six years, the company has invested KES 25 billion into the Kenyan economy, empowering thousands of individuals and businesses with accessible financing solutions.
The company attributes its rapid growth to a deep understanding of customer needs, allowing it to tailor financial products that provide real value.
By leveraging advanced technology, MOGO has streamlined loan processing, ensuring approvals in under two hours.
Strategic collaborations with automotive dealers, boda boda and tuk-tuk vendors, and other key partners have strengthened its market presence and expanded its reach.
“This milestone is a testament to the trust our customers place in us and reflects our unwavering commitment to providing accessible, responsible, and sustainable financial solutions,” said Branton Mutea, Deputy Country Manager of MOGO Kenya.
MOGO’s financing options have played a crucial role in bridging financial gaps, particularly for those who struggle to access mainstream banking services.
By providing vehicle financing and logbook loans, the company empowers entrepreneurs and vehicle owners to access funds without relinquishing their assets.
Beyond business, MOGO’s financial support has helped individuals invest in essential needs such as education and healthcare, ultimately improving their quality of life.
As part of its expansion strategy, the company is set to introduce new financial products, including savings accounts, insurance, and digital payment solutions.
“Our vision is to expand financial inclusion by reaching more underserved regions and offering innovative financial solutions that unlock economic opportunities,” added Mutea.
According to the Kenya National Bureau of Statistics, Kenya has 7.4 million MSMEs.
However, a 2022 report by the Central Bank of Kenya revealed that only 1.18 million MSMEs had active bank loan accounts, accounting for just 16% of the sector.
This demonstrates the crucial role alternative financiers like MOGO play in supporting underserved entrepreneurs.
FinAccess Household Survey 2022 by the Central Bank of Kenya indicates that 11.6% of the adult population remains excluded from both formal and informal financial services.
Expanding its presence in underserved regions and driving innovation, MOGO is well-positioned to enhance financial inclusion and create new economic opportunities for Kenyans.
