The Boda Boda sector is Uganda’s second largest employer with millions of riders
In a move to advance sustainable mobility and economic empowerment, NOVA Microfinance, a leading provider of inclusive and green financial services, has partnered with Spiro, a pioneer in electric mobility solutions.
The partnership aims to make electric motorbikes more accessible and affordable for individuals and small business owners across Uganda, by offering flexible financing and repayment options tailored to the needs of riders.
The Boda Boda sector is Uganda’s second largest employer with millions of riders and millions more that depend on their services like the support to small scale commerce and essential transport options for many.
The Boda Boda loans have already been rolled out in Kampala, Jinja and Iganga for an initial down payment of Ugshs 180,000 followed by weekly repayments for twelve (12) to twenty-four (24) months.
With transport being a critical link in economic productivity, especially for delivery riders, small traders, and commuters, this initiative will enable more people to own electric bikes without the burden of upfront costs. This is a strategic partnership because it aligns to our strategic objective of reducing carbon emissions, cutting fuel costs, and promoting a cleaner environment for the generations to come.
“We are excited to collaborate with Spiro to empower our customers with access to reliable and eco-friendly transport solutions,” said Precious Naluwu, Manager, Partnerships, NOVA Microfinance. “By end of 2026, we aim to have finainced a minmum of 2000 electric boda bodas, which we believe is a good start in reducing the carbon print in Kampala city and other towns of Uganda.”
Bruce Mucunguzi, Country Head, Spiro Uganda added, “Our partnership with Nova Microfinance is more than just about access to electric motorcycles- its about unlocking financial insclusion for every Ugandan who wants to ride into a cleaner, more profitable future. Together, we’re accelerating the shift from fuel dependency to smart, sustainable mobility.”
NOVA is not only financing e-mobility but is involved in other green financing initiatives such as clean energy, sustainable farming that includes the use of solar irrigations, pumps among others
