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Angaza partners NuovoPay to launch lease-to-own smartphone purchase programs in Africa

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Angaza, a software tech firm serving last-mile distribution businesses to increase smartphone accessibility in Africa has partnered with NuovoPay, a cloud-based product remote locking tech firm to enable more carriers, device financing companies and financial institutions and resellers to build a sustainable device leasing model.
The deal will see Angaza embed NuovoPay’s remote device locking technology to enable them to safely lease devices and collect installment payments without the pain of non-payments or theft. Angaza already distributes solar home systems, feature-rich smartphones among others on an installment payment basis to help mitigate up-front product costs for distributors, expanding access to life-changing devices that are in high-demand within last-mile and emerging markets.

By partnering with NuovoPay, Angaza can now lower last-mile distributors’ risk of selling smartphones on the pay-as-you-go financing model. NuovoPay’s remote locking technology for smartphones enables distributors on the Angaza sales solution to monitor payments and take action accordingly, helping them de-risk device financing. By providing opportunities for distributors to confidently lease smartphones, low-income individuals in emerging markets can access smartphone technology at lower upfront costs.

The deal will see smartphone distributor lease out Android smartphones to end-users without the need for an underlying credit score or banking history. End users are also able to use their leased Android smartphones by paying a monthly fee.

Angaza’s partner distributors can send out payment reminders to Android smartphones and keep track of upcoming payments on the Angaza platform. If the end-user misses their monthly payment, access to the smartphone is remotely blocked using NuovoPay’s remote locking technology. This serves as a remote recovery mechanism for leased devices. End users can continue using the smartphone after the payment is completed.

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The two aim to further their mission to increase accessibility of smartphone technology in emerging markets, while emphasizing financial inclusion for low-income consumers who lack access to a conventional credit system.

The global market for affordable smartphones is steadily expanding, with Africa observing a large spike in demand for smartphone devices in late 2020. Nearly 22.9 million smartphones shipped to Africa in Q3 2020 alone despite COVID-19 restrictions, according to research from Global Market Intelligence firm, IDC. The demand for affordable technology in Africa, most notably for smartphones, is colossal and can be largely attributed to growing e-learning needs.

Such a partnership is welcome as smartphones are used for a myriad of activities including trade, banking, finance, education and communication. However, due to costs, an average household in Africa does not have access to multiple digital devices, and affordable smartphones are often the most cost-effective way to access the internet and enable e-learning. The partnership will enable distributors to make devices available and affordable in a majority of last-mile and remote markets as low-income individuals can purchase a smartphone on an installment program.

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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