Nova Microfinance joins Spiro on electric bike drive
NOVA Microfinance and Spiro have joined forces to expand the ownership of electric motorbikes among Ugandan riders and small business operators. The program launched in Kampala, Jinja, and Iganga requires an initial payment of 180,000 shillings, followed by weekly installments over 12 to 24 months. Transportation plays a vital role for delivery workers, traders, and commuters who face steep upfront costs when purchasing vehicles.
Precious Naluwu from NOVA Microfinance said the company aims to finance 2,000 electric motorcycles by late 2026 to reduce carbon emissions in Kampala and other urban centers. Bruce Mucunguzi of Spiro Uganda described the collaboration as a pathway toward financial access for Ugandans seeking cleaner transport alternatives. The boda boda industry ranks as the country’s second-largest employer, with millions of riders serving communities through commerce, support, and essential travel services.
NOVA extends its environmental commitment beyond electric mobility to include clean energy projects and sustainable agricultural methods, such as solar irrigation systems.
