Pay-As-You-Go (PAYG); how Asset Financer's New Feature is Bleeding Low-Income Households

  A report by the Communications Authority of Kenya (CA) in the 2020/2021 financial year reported that as of September 30, 2021, the country had 64.9 million active mobile subscriptions. Additionally, the penetration level of feature phones and smartphones was 67.9% and 53.4%, respectively. The report highlighted that one out of every two Kenyans owned a smartphone. This article discusses the motivation behind the increased uptake of PAYG electronics like Smartphones, Televisions, and Solar Panels.