After nearly two decades of providing off-grid solar solutions, Sun King has officially launched a smartphone financing model in Nigeria.
Announced on Tuesday, December 23, the initiative applies the successful “Pay-As-You-Go” (PayGo) solar framework of the company to mobile devices, allowing customers to bypass high upfront costs through small, periodic installments.
We are now extending the same approach as solar to smartphones… making it easier for people to stay connected and participate fully in the digital economy – Omoyemi Tuga, VP for PayGo Sales (West & Central Africa), Sun King
Sun King, formerly called Greenlight Planet, has been a leader in the off-grid sector since 2007, and has extended over $1.4 billion in solar loans globally. The company aims to reach the informal sector including traders, students, and farmers, who lack access to traditional banking credit, by leveraging its existing network of community-based agents across all 36 Nigerian states.
This mirrors models used by competitors like M-KOPA and EasyBuy, where the device is digitally locked if payments are missed and unlocked upon completion of the contract.
The financing is available through Sun King’s network of field agents and retail shops in every state and the FCT, in order to ensure grassroots reach.
The model covers popular mid-range and entry-level brands, including Samsung (A-series), Tecno (Pop/Spark series), and Infinix (Smart/Hot series).
Customers can take a device home the same day after a quick onboarding process and an initial deposit, with no requirement for formal collateral or proof of income.
