Watu Credit, the Kenyan company famous for helping people buy motorcycles and “tuk-tuks” on credit, has reported a massive comeback. After a tough year in 2024, the company’s profits jumped 14 times higher in 2025.
The main reason for this huge success? A massive surge in their smartphone financing business, called “Simu.”
The Numbers: A Massive Turnaround
According to new financial reports, Watu’s growth has been record-breaking:
• Net Profit: Jumped from KES 157 million ($1.2 million) in 2024 to KES 4.8 billion ($37 million) in 2025.
• Total Revenue: Increased by nearly 93%, reaching KES 28.3 billion ($219.2 million).
This is a major recovery for the company. Just one year ago, Watu was struggling with high costs, bad loans, and currency problems in places like Nigeria.
From Motorcycles to Smartphones
While Watu started by helping “boda boda” (motorcycle taxi) riders buy their bikes, its Simu unit is now the star of the show.
How Simu works:
Instead of paying a huge amount of money at once for a smartphone, customers pay in small, affordable installments. This has become incredibly popular across Africa because it allows more people to get online and use digital services.
This shift to phones helped the company stay profitable even when its motorcycle and three wheeler business faced pressure.
Expanding Across Africa and Beyond
Watu has grown far beyond its home base in Nairobi. The company now operates in:
• Kenya and Uganda
• Tanzania and the DRC
• Nigeria and Sierra Leone
In 2024, the falling value of the Naira in Nigeria and loan issues in East Africa hurt the business. However, the company says its operations in these countries have now “stabilized” and are ready for even more growth.
What’s Next for Watu?
Watu isn’t stopping in Africa. The company has bold plans for the future:
1. New Markets: They are currently looking to expand into Latin America.
2. Big Revenue Goals: They are aiming to make $340 million in revenue by the end of 2026.
As investors look more closely at how African tech companies actually make money, Watu’s massive profit jump shows that asset financing helping people buy the tools they need for work and communication is a very powerful business model.
