• Equity Bank plans a financing scheme to enable smartphone purchases through installment payments.
• About 92% of the population did not own a smartphone in 2024, according to GSMA.
• Entry-level smartphones cost around $30, exceeding half of monthly income per capita.

Equity Bank proposed a smartphone financing program in the DRC, as it aims to enable subscribers to acquire devices at lower upfront cost through installment payments. The initiative seeks to accelerate smartphone adoption and expand access to digital services across the country.

The bank presented the project last week to Digital Economy Minister Augustin Kibassa Maliba during a ministerial roundtable in Washington focused on payment digitalization and domestic revenue mobilization. The proposal aligns with Equity Bank’s strategy to establish a strategic partnership with the ministry to support the country’s digital transformation.

Willy Mulamba, Chief Executive Officer of Equity BCDC, the Congolese subsidiary of Equity Group, said, “Imagine offering the Congolese people low-cost financed phones, with affordable internet access, enabling them to open bank accounts or access public services and government programs more easily,” without providing further details.

This initiative comes as affordability remains a key barrier to internet adoption in Africa. GSMA data shows that only 8% of the Congolese population owned a smartphone in 2024, while mobile internet penetration reached 13%.

In its report “Accelerating Smartphone Adoption in Africa,” published in December 2025, GSMA said the median price of an entry-level smartphone stands at about $30, which exceeds half of the monthly income per capita in the DRC. For households in the bottom 20% to 40% income bracket, the cost exceeds total monthly income, making upfront purchases nearly impossible without financing solutions.

Mobile operators and ecosystem players have already introduced financing options in the DRC. KaiOS Technologies, in partnership with Mobihive Lab, offers a 4G smartphone financing solution targeting new users and those upgrading from 2G. Telecom operators Vodacom, Airtel, and Africell also provide bundled offers that include installment payments, along with airtime credit and/or initial data packages.

However, despite the availability of such offers, most consumers still rely on upfront payments to purchase smartphones. GSMA attributes this trend to limited awareness of financing solutions and concerns about default risks, which could lead to device repossession and loss of prior payments.

This article was initially published in French by Isaac K. Kassouwi

Adapted in English by Ange J.A de Berry Quenum