In a bid to promote sustainable mobility and foster economic empowerment, NOVA Microfinance, a leading provider of inclusive and eco-friendly financial services, has teamed up with Spiro, an innovator in electric mobility solutions.
This collaboration aims to increase the accessibility and affordability of electric motorbikes for individuals and small business owners across Uganda by offering flexible financing options tailored to the needs of riders. The Boda Boda sector, Uganda’s second-largest employer, provides vital services, supporting small-scale commerce and offering essential transport options to millions of riders and commuters.
The Boda Boda loan program has already been launched in Kampala, Jinja, and Iganga, with an initial down payment of Ugshs 180,000 and flexible weekly repayments over 12 to 24 months. Given the critical role transport plays in economic productivity, especially for delivery riders, small traders, and commuters, this initiative will help more people transition to electric bikes without the burden of hefty upfront costs.
“This strategic partnership aligns with our goal of reducing carbon emissions, lowering fuel costs, and creating a cleaner environment for future generations,” said Precious Naluwu, Manager of Partnerships at NOVA Microfinance.
By the end of 2026, the partnership aims to finance at least 2,000 electric Boda Bodas, a key step toward reducing Kampala's carbon footprint and promoting cleaner transport across Uganda.
Bruce Mucunguzi, Country Head of Spiro Uganda, added, “Our partnership with NOVA Microfinance is about more than just providing access to electric motorcycles. It’s about creating financial inclusion for every Ugandan who wants to transition to a cleaner, more profitable future. Together, we are driving the shift from fuel dependency to sustainable, smart mobility.”
In addition to financing e-mobility, NOVA Microfinance is also committed to other green financing initiatives, including clean energy projects and sustainable farming, which incorporate solar-powered irrigation systems and pumps.