Buy Simu Technologies hosts star-studded event during its Android financing dinner launch

Startup Buy Simu Technologies hosted a star-studded event last Saturday to launch its Android funding program.
The dinner launch at Kempinski Nairobi was attended by notable celebrities including comedian Nick Bigfish, Eddie Butita, Nasra Yusuff, digital content creators Shornarwa, Diana Luvanda, Cera Imani, Diana Marua, actress Marya Okoth, Bushra Sakshi, rapper Wangechi, socialite Amber Ray who made to the long list of invite-only guests.

Launched a year ago, Buy Simu Technologies offers financing services for high-end electronics, particularly Apple products, which the majority of Kenyans have struggled to own due to the high prices of the devices.
“The whole idea behind Buy Simu is based on the perception that Kenyans have of Apple and Samsung products. For a long time, these products, more than any other, have been seen as premium and out of reach for the majority of Kenyans due to the prices, yet they are in demand. For many, the initial cost of these devices can be prohibitive. And with the digital economy now at the forefront of many Kenyans’ minds, that’s where we come in, offering affordable financing that allows our customers to own these premium devices while paying in manageable installments.” Lawrence Lagat, the Managing Director and Chief Finance Officer of Buy Simu Technologies told Nairobi News.

According to the latest data from the International Mobile Operators Association GSMA, the number of Kenyans who cite the high cost of smart electronics as the main barrier to owning the devices will rise to 51 percent and 52 percent in urban and rural areas respectively by 2023.
On Saturday, Mr. Lagat told Nairobi News that they will start financing Android devices in the next few weeks.
“We want to give our customers options. With the rise of content creation in this age and the high affinity for these expensive high-end devices, we want to make them accessible to every Kenyan through our ‘Beba Now Lipa later’ program,” said Mr Lagat.

So how does the facility work?
“To use the facility, all you need is your national identity card, a down payment, and Mpesa statements for the last three months, which are used to assess the customer’s affordability and tailor a product for them to ensure easy payment,” says Lagat.

He goes on to add;
“The way the facility works is that you have to make a down payment for the product you choose and then we structure it so that you can pay in manageable installments,”.
The startup also offers insurance services for the Apple and Samsung devices it finances, ranging from smartphones to iPads to laptops.
“In April this year, we launched an innovative insurance product that covers screen replacement, back glass replacement, and water damage. Since then, we have repaired over 150 phones and paid out over Ksh2.5 million to our customers,” added Mr. Lagat.

Actress Marya Okoth, one of the beneficiaries of the startup who recently split from her comedian boyfriend YY Comedian, praised Buy Simu for diversifying its services to include Android products.
“If I can speak for myself, this is a company I’ve been with since the beginning and I’m grateful for how the business is expanding and how the public is responding to their product. In this day and age, it’s quite impressive to have a financier who is making it possible for Kenyans to own these devices, which we all know don’t come cheap. The idea of LIPA Pole is a plus for many Kenyans who aspire to own such high-end gadgets,” Marya noted as she walked the red carpet.