Nova Microfinance, has teamed up with Simba Automotives Limited, to increase access to both fuel-powered and electric motorcycles for individuals, companies , and business owners across their 65 distribution points in the country.
Under this partnership, Nova Microfinance will offer flexible financing and repayment plans tailored to the needs of boda riders. Through the initiative, customers will own motorbikes with a down payment for as low as UGX 450,000 paid within 12 to 24 months.
“This partnership with Simba automotives gives our customers access to a wide range of motorbikes that are both fuel-powered and electric, accelerating the growth of the informal sectors and increase in employment opportunities,” said Precious Naluwu, the Partnerships Manager.
This initiative is premised to boost small business owners and Individual riders, as they can acquire a motorcycle with a manageable initial deposit of just Shs450,000.