NOVA Microfinance has partnered with Spiro to offer flexible financing and repayment options that will make electric motorbikes more accessible and affordable for individuals and small business owners across Uganda.
The Boda Boda sector is among Uganda’s largest employers with a number of businesses that depend on their services.
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.
The strategic partnership aligns to Nova’s 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.”