There’s something satisfying about walking out of a shop with the phone of your dreams, without paying the full price upfront. You get the gadget, and all you owe is a “small” amount every month. What’s not to love?
That’s the illusion of Buy Now, Pay Later (BNPL) services in Kenya. Companies like M-KOPA, Aspira, and others have perfected the art of making debt look like a favor.
But behind the low daily payments and zero-down offers is a system quietly bleeding your future income and financial freedom.
It’s Not Really “Lipa Polepole”
Let’s break it down with a simple example.
Say you want to get the latest Samsung A15, priced at KES 25,000. With a service like M-KOPA, you might pay KES 4,000 upfront and then KES 100 daily for the next year. Sounds manageable, right?
Except when you do the math:
KES 100/day × 365 days = KES 36,500
Add your deposit = KES 40,500 total.
You just paid over KES 15,000 in interest and fees for something you could have bought in cash within 3–4 months if you saved just KES 7,000–8,000/month. That’s over 60% markup for the convenience of “polepole.”
And that’s before considering what happens when you miss a payment.
Miss a Payment, Lose the Product
Unlike traditional loans, these companies are ruthless when it comes to enforcement.
M-KOPA will lock your phone remotely. No calls, no texts, no MPESA. Aspira can blacklist you with CRB for even minor defaults.
Lipa Later charges steep penalties and may repossess your gadget—yes, even your used laptop or fridge. If they can overcome their troubles to stay afloat in the market.
In short, they don’t care about your reasons. Your phone doesn’t work? Pay up. You lost your job? Pay up. That flashy device you wanted to show off in town becomes a daily source of anxiety.
The Subtle Psychological Trap
These companies know you’re not doing the math. They bank on it.
They anchor you to daily or weekly payments because “KES 100/day” feels painless. But over time, you stop noticing how these small bites are draining your wallet. It’s death by a thousand deductions.
Meanwhile, you’re juggling multiple BNPL accounts—phone from M-KOPA, TV from Lipa Later, blender from Aspira—each eating away at your income before you even touch it.
Eventually, your salary feels like it disappears on arrival. You’re not broke because you earn too little. You’re broke because your future income is already spent.
You Don’t Own It Until You REALLY Overpay
Think about this, you don’t truly own that phone, laptop, or TV until the very last payment. Until then, it’s not yours, it’s a rental. One missed payment, and poof, it’s gone or locked.
This is the exact opposite of building wealth. You’re not buying assets, you’re renting liabilities.
Meanwhile, the company already made its profit. You’re the one left with stress.
The Smarter Option? Save First, Buy Later
Instead of jumping into these “zero deposit” traps, try this:
- Pick your item and set a timeline—say three months.
- Divide the total cost by 3 and save that amount monthly.
- Use mobile banking, SACCOs, or lock savings accounts to stay disciplined.
For instance, saving KES 8,500/month for three months gives you KES 25,500—enough to buy that Samsung A15 in cash, with no debt, no pressure, and possibly even a discount.
Plus, you’ll feel proud knowing you own it outright. No one can lock or take it from you.
BNPL Is Not Always Evil—But It’s Rarely Wise
Sure, BNPL can be helpful in emergencies. Maybe you’re a boda rider who needs a phone to earn daily, or a student who urgently needs a laptop. But for most people, it’s not an emergency—it’s impatience dressed up as opportunity.
If your monthly income is already strained, adding new fixed expenses is financial sabotage.
Debt is not your enemy. Undisciplined debt is.
Avoid Getting Trapped
BNPL services in Kenya are growing fast, and they’re targeting people like you—tech lovers, hustlers, dreamers. They know you want that upgrade, that status, that convenience.
But remember—their business thrives when you’re too broke to fight back. Don’t give them that power. Learn to wait. Save for what you want. Own it proudly.
Because peace of mind is worth more than a quick dopamine hit from a new gadget.
