In a major step toward advancing sustainable mobility and economic inclusion, NOVA Microfinance, a leading provider of inclusive and green financial services, has partnered with Spiro, a regional pioneer in electric mobility, to increase access to affordable electric motorbikes for Ugandans.
The partnership seeks to make electric motorbikes (e-bodas) more accessible and affordable for individuals and small business owners through flexible financing and repayment plans designed to suit the needs of riders.
The Boda Boda sector, Uganda’s second-largest employer, provides livelihoods to millions and supports small-scale commerce, deliveries, and essential transport across the country. Recognizing its importance, NOVA and Spiro are introducing tailored e-mobility financing solutions to help riders transition from fuel-powered to electric motorcycles.
Under the new scheme, Boda Boda loans have been rolled out in Kampala, Jinja, and Iganga, requiring an initial down payment of Shs 180,000, followed by weekly repayments over a period of 12 to 24 months.
Speaking about the partnership, Precious Naluwu, Manager of Partnerships at NOVA Microfinance, said the collaboration aligns with NOVA’s mission to promote environmental sustainability and economic empowerment.
“We are excited to collaborate with Spiro to empower our customers with access to reliable and eco-friendly transport solutions. By the end of 2026, we aim to have financed a minimum of 2,000 electric boda bodas, which we believe is a solid start toward reducing the carbon footprint in Kampala and other towns across Uganda,” Naluwu said.
Bruce Mucunguzi, Country Head of Spiro Uganda, emphasized that the partnership represents more than just affordable transport — it’s about inclusive financial empowerment and sustainability.
“Our partnership with NOVA Microfinance is more than just about access to electric motorcycles — it’s about unlocking financial inclusion 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,” Mucunguzi stated.
The initiative comes at a time when the cost of fuel continues to rise and environmental concerns grow. Electric motorcycles are viewed as a cost-efficient and climate-friendly alternative, significantly cutting daily fuel expenses and reducing carbon emissions in major towns and cities.
Beyond e-mobility, NOVA Microfinance is also investing in other green financing initiatives, including clean energy projects and sustainable agriculture, such as financing solar irrigation systems and pumps to support smallholder farmers.
Through this partnership, NOVA and Spiro aim to accelerate Uganda’s transition to clean energy mobility while supporting livelihoods and driving inclusive economic growth.
