Nova Microfinance, a provider of financial services, has teamed up with Simba Automotives Limited, one of Uganda’s largest motorbike companies 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. Thanks to this initiative, more people will be able to own motorbikes with a down payment as low as UGX 450,000 paid within 12 to 24 months.
The Boda Boda sector is Uganda’s second-largest employer, with millions of riders and millions more who depend on their services, such as support for small-scale commerce and essential transport options for many.
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 bikes without the burden of upfront costs.
“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.
Chitwan Dogra, CEO of Simba Automotives, highlighted that by leveraging Nova Microfinance and Simba’s extensive network of over 60 distribution points nationwide, motorcycles are being made accessible to everyone.
"This initiative is a major boost for small business owners and individual riders, as they can acquire a motorcycle with a manageable initial deposit of just shs450,000."
