In a bold step toward a cleaner and more inclusive future, NOVA Microfinance has partnered with Spiro, a leading electric mobility company, to make electric motorbikes more affordable for Ugandans.
The partnership focuses on giving riders, especially in the boda boda (motorcycle taxi) sector, access to flexible and eco-friendly financing options.
Through this initiative, individuals and small business owners will be able to purchase electric motorbikes with small down payments and manageable weekly installments, helping them switch from fuel-powered bikes to environmentally friendly alternatives.
The boda boda sector is Uganda’s second-largest employer, supporting millions of riders and families. It plays a vital role in everyday transport, deliveries, and small-scale business operations across the country.
Under the new partnership, riders can now get an electric motorbike with an initial payment of just UGX 180,000, followed by flexible weekly repayments over 12 to 24 months. The program has already been rolled out in Kampala, Jinja, and Iganga, with plans to expand to more districts in the coming months.
Transport is one of the largest contributors to carbon emissions and high fuel costs in Uganda. By encouraging riders to shift to electric motorbikes, NOVA and Spiro aim to promote clean energy use, reduce fuel dependency, and cut emissions that harm the environment.
“We are excited to collaborate with Spiro to empower our customers with access to reliable and eco-friendly transport solutions,” said Precious Naluwu, Manager of Partnerships at NOVA Microfinance.
“By the end of 2026, we plan to finance at least 2,000 electric boda bodas, marking a significant milestone in reducing Uganda’s carbon footprint.”
Bruce Mucunguzi, Country Head of Spiro Uganda, emphasized that the collaboration is not just about selling electric bikes—it’s about financial inclusion and sustainability.
“Our partnership with NOVA Microfinance is about unlocking opportunities for every Ugandan who dreams of a cleaner, more profitable future,” Mucunguzi said. “Together, we’re helping riders move from fuel dependency to smart, sustainable mobility.”
Beyond e-mobility, NOVA Microfinance is also investing in other green finance projects, including clean energy, solar-powered irrigation systems, and sustainable farming. These programs reflect the institution’s broader goal of promoting climate resilience and economic empowerment in Uganda.
This partnership is more than a business deal—it’s a vision for a sustainable Uganda where transport is cleaner, cheaper, and accessible to everyone. For many riders, owning an electric bike means lower fuel expenses, more income, and a chance to contribute to protecting the environment.
With innovative financing and growing awareness of climate change, Uganda could soon become a regional leader in electric mobility.
Keywords: Uganda, NOVA Microfinance, Spiro, Electric Motorbikes, Clean Energy, Green Transport, Sustainable Development, Financial Inclusion
