Kampala, Uganda | THE INDEPENDENT | In Uganda’s bustling cities, boda boda riders weave by traffic, the heartbeat of the nation’s informal financial system. These bike taxis are more than merely a mode of transport—they’re a lifeline for tens of millions. Nonetheless with rising gasoline expenses and rising environmental considerations, the shift to electric autos (EVs) is gaining momentum.
At the forefront of this transformation is MOGO Uganda, the country’s main electric automobile (EV) financier, which has made excellent strides in bridging the receive admission to hole to sustainable mobility. By May possibly perhaps also 2025, merely one one year into its keen push for electric bikes, MOGO had issued 1,500 electric automobile loans, empowering riders and reshaping Uganda’s transport landscape.
MOGO Uganda, segment of the realm FinTech firm Eleving Neighborhood, has carved out a distinct segment by making electric motorcycles cheap for boda boda operators, who progressively face monetary barriers. Through strategic partnerships with EV producers cherish Zembo, Spiro, and eBee, MOGO offers tailored financing that brings cutting-edge electric bikes—cherish the Zembo Verbalize or Spiro Ekon —nearby.
These partnerships are more than enterprise offers; they’re a bridge to a cleaner, more inclusive future. With out MOGO’s modern financing, this rapid growth in Uganda’s e-mobility ecosystem merely wouldn’t be doable.
Rob Bashir Mutumba, a Kampala-essentially based mostly boda boda rider. Sooner than MOGO, he struggled with the high gasoline and repairs expenses of his petrol-powered bike. After securing an electrical bike mortgage with a modest UGX 600,000 down cost and weekly installments of UGX 77,000, Bashir now earns triple his earlier earnings. The electric bike’s low running expenses—about UGX 8,000 for 80 kilometers when in contrast with UGX 10,000 for 70 kilometers on gasoline—personal transformed his livelihood. Reviews cherish Bashir’s are multiplying, attributable to MOGO’s dedication to monetary inclusion.
MOGO’s financing mannequin is designed with Uganda’s informal sector in mind. Loans are processed interior 24 hours, and flexible credit score reports accommodate riders with varied monetary backgrounds.
To tackle theft considerations—a accurate terror for riders—MOGO equips bikes with GPS monitoring, making sure peace of mind while riders repay their loans over 18 to 30 months.
This accessibility has fueled MOGO’s dominance as Uganda’s most practical EV financier enabling riders to lope over 2.5 million kilometers on trim energy.
A key milestone in MOGO’s lope came in September 2024, when it secured a UGX 19 billion mortgage facility from Absa Bank Uganda. This partnership has supercharged MOGO’s skill to scale EV financing, with an preliminary UGX 5 billion tranche already disbursed.
The funds target boda boda operators, aligning with Uganda’s blueprint to gash wait on the informal sector from 51% to forty five% by 2025, as outlined by the World Bank. By providing local forex loans, MOGO also shields riders from foreign alternate dangers, making financing more predictable and sustainable.
MOGO’s impression goes beyond economics—it’s using environmental trade. Uganda’s transport sector accounts for roughly 50% of energy-associated greenhouse gas emissions, fixed with the United Nations Ambiance Programme (UNEP). Electric bikes, with zero tailpipe emissions, are a sport-changer.
MOGO’s financing supports UNEP’s Global Electric Mobility Programme, which backs Uganda’s e-mobility push. By partnering with Zembo, Spiro, and eBee, MOGO ensures riders personal receive admission to to dependable, within the community suited electric bikes, reducing noise and air pollution in cities cherish Kampala.
MOGO’s management was once on beefy convey at some level of the E-Mobility Parade, organized by the Science, Skills, and Innovation (STI) Secretariat sooner than the Nationwide Science and Skills Week in 2024.
The parade showcased Uganda’s rising EV ecosystem, with MOGO proudly highlighting its characteristic as the country’s prime EV financier. The occasion underscored MOGO’s dedication to innovation and sustainability, rallying stakeholders to tempo up the shift to electric mobility.
Yet, challenges stay. Theft dangers persist, even with GPS monitoring, and riders must navigate mortgage repayments if bikes are stolen. Charging infrastructure also needs growth to toughen frequent EV adoption. Despite these hurdles, MOGO’s growth is undeniable.
MOGO Uganda isn’t merely financing bikes—it’s fueling needs and powering a greener future. By bridging the receive admission to hole for boda boda riders, MOGO is transforming lives, one electric bike at a time. For riders, it’s a worth to financial freedom; for Uganda, it’s a step toward sustainability.
As MOGO continues to innovate, its characteristic in shaping the nation’s EV ecosystem remains unmatched.
