Mark Muyobo, CEO of NCBA shares a moment with Florence Ssempebwa Makada (Right), Managing Director of Motorcare Uganda after launching the “DRIVE YOUR DREAM TODAY” campaign
NCBA Bank has teamed up with Motorcare Uganda, the franchise dealer for Nissan vehicles to launch an exclusive asset financing program for customers over the next three months, dubbed “DRIVE YOUR DREAM TODAY”. The initiative is designed to enable both individuals and businesses to own brand-new, zero-mileage vehicles at discounted prices, with financing covering up to 100% of the vehicle cost.
According to Mark Muyobo, CEO of NCBA, customers can access up to 100% financing or only contribute 10% of the vehicle’s invoice value as equity, with the remaining amount financed at a competitive interest rate for both UGX and USD facilities. The program offers customers a two-month repayment holiday to ease financial strain, allowing them to comfortably transition into their new financial commitment. To promote EV adoption, reduced financing rates are being offered for electric vehicles.
Key features of the partnership include discounted prices through Motorcare Uganda, making it easier for customers to acquire brand new vehicles at competitive rates. The program offers flexible repayment options, with terms extending up to six years, tailored to align with customers’ cash flow needs.
Additionally, customers do not pay any processing fees further reducing the financial burden, while comprehensive insurance for the vehicles is provided at subsidized rates ensures additional savings. The vehicles themselves also serve as collateral, reducing the need for additional security.
The promotion targets income earners with a monthly income of UGX 5 million or more, catering to individuals who want to upgrade their lifestyle or businesses looking to expand their fleets. According to Muyobo, NCBA aims to finance more than 100 vehicles during the promotion period, with a focus on driving increased uptake of asset financing in Uganda.
“We are excited to offer this opportunity to our clients, designed to make vehicle ownership more accessible without draining your cash flows. This is a win-win for customers—they get a high-quality vehicle at a discounted price, benefit from manageable installment payments, and enjoy zero processing fees along with a repayment holiday,” said Muyobo.
The Asset Finance campaign forms a critical part of NCBA’s broader strategy to establish itself as the leader in asset financing in Uganda. The bank aims to achieve substantial market awareness, targeting over 80% top-of-mind recognition and a 50% increase in green financing to accelerate EV adoption in Uganda.
“The partnership with Motorcare Uganda signals our commitment to fostering growth in Uganda’s vehicle ownership market. We believe this collaboration will not only provide substantial benefits to individual customers and businesses but also stimulate local investment contributing to the broader economy,” Muyobo added.
The campaign is expected to stimulate demand for new vehicles, boost local dealership and insurance activity, and further entrench NCBA’s position as a key player in Uganda’s banking and finance ecosystem.
Florence Ssempebwa Makada, Managing Director of Motorcare Uganda, highlighted the environmental and economic rationale behind the campaign.
She said out of the 22,000 vehicles sold annually in Uganda, only about 3,000 are brand new. That means 19,000 high-mileage used cars are hitting our roads, contributing significantly to pollution. She said the goal of the campaign is to convert just 30% of that segment—around 7,000 customers—to choose brand new, cleaner vehicles.
“We’re offering something compelling, and the prices are competitive. Additionally, we give 100,000 km of free service, and unmatched reliability. If you’re spending Shs100 million on a used car, why not get a brand-new one instead—backed by a service guarantee and zero mileage? “She asked.
