MOGO Uganda Electrifies Boda Boda Industry, Empowering Riders and Driving Green Revolution

In a significant stride towards sustainable mobility and economic empowerment, MOGO Uganda, the nation’s leading electric vehicle (EV) financier, has disbursed 1,500 electric motorcycle loans within just one year, dramatically reshaping Uganda’s transport landscape. This remarkable achievement, as of May 2025, underscores MOGO’s pivotal role in bridging the access gap to electric vehicles for the country’s ubiquitous boda boda (motorcycle taxi) riders.

Boda bodas are the lifeblood of Uganda’s informal economy, providing essential transport for millions. However, rising fuel costs and growing environmental concerns have accelerated the shift towards electric alternatives. MOGO Uganda, a part of the global FinTech powerhouse Eleving Group, has positioned itself at the forefront of this transformation by making electric motorcycles affordable for operators who often face significant financial barriers.

Through strategic collaborations with prominent EV manufacturers such as Zembo, Spiro, and eBee, MOGO offers tailored financing solutions that put cutting-edge electric bikes, including models like the Zembo Thunder and Spiro Ekon, within reach of riders. “These partnerships are more than business deals; they’re a bridge to a cleaner, more inclusive future,” states a MOGO representative. “Without MOGO’s innovative financing, this rapid progress in Uganda’s e-mobility ecosystem simply wouldn’t be possible.”

The impact of MOGO’s initiative is evident in the burgeoning success stories of individual riders. Bashir Mutumba, a Kampala-based boda boda rider, exemplifies this transformation. Formerly burdened by the high fuel and maintenance costs of his petrol-powered bike, Bashir secured an electric bike loan from MOGO with a modest UGX 600,000 down payment and manageable weekly installments of UGX 77,000. This shift has enabled him to triple his previous income. The stark difference in running costs – approximately UGX 8,000 for 80 kilometers on an electric bike compared to UGX 10,000 for 70 kilometers on a fuel-powered one – has revolutionized his livelihood. Stories like Bashir’s are increasingly common, testament to MOGO’s unwavering commitment to financial inclusion.

MOGO’s financing model is meticulously designed to cater to Uganda’s informal sector. Loan applications are processed within 24 hours, and flexible credit reviews accommodate riders from diverse financial backgrounds. To mitigate theft concerns, a significant worry for riders, all MOGO-financed bikes are equipped with GPS tracking, providing peace of mind as riders repay their loans over flexible terms of 18 to 30 months. This accessibility has cemented MOGO’s dominance as Uganda’s largest EV financier, enabling riders to collectively travel over 2.5 million kilometers on clean energy.

A pivotal moment in MOGO’s journey occurred in September 2024, when it secured a substantial UGX 19 billion loan facility from Absa Bank Uganda. This strategic partnership has significantly bolstered MOGO’s capacity to scale its EV financing operations, with an initial UGX 5 billion tranche already disbursed. The funds are specifically earmarked for boda boda operators, aligning with Uganda’s national goal, as outlined by the World Bank, to reduce the informal sector’s contribution from 51% to 45% by 2025. By offering local currency loans, MOGO also shields riders from foreign exchange risks, ensuring more predictable and sustainable financing.

MOGO’s impact extends beyond economic empowerment, actively contributing to environmental sustainability. According to the United Nations Environment Programme (UNEP), Uganda’s transport sector accounts for roughly 50% of energy-related greenhouse gas emissions. Electric bikes, with their zero tailpipe emissions, represent a game-changer in this regard.

MOGO’s financing initiatives directly support UNEP’s Global Electric Mobility Programme, which champions Uganda’s e-mobility push. Through its partnerships with Zembo, Spiro, and eBee, MOGO ensures that riders have access to reliable, locally suited electric bikes, thereby significantly reducing noise and air pollution in bustling urban centers like Kampala.

MOGO’s leadership in the EV sector was prominently showcased during the E-Mobility Parade, organized by the Science, Technology, and Innovation (STI) Secretariat ahead of the National Science and Technology Week in 2024. The parade served as a platform to highlight Uganda’s burgeoning EV ecosystem, with MOGO proudly demonstrating its role as the country’s top EV financier. The event underscored MOGO’s dedication to innovation and sustainability, rallying stakeholders to accelerate the national shift to electric mobility.

While challenges such as persistent theft risks (even with GPS tracking) and the need for expanded charging infrastructure remain, MOGO’s progress is undeniable. MOGO Uganda is not merely financing bikes; it is fueling dreams and powering a greener future. By bridging the access gap for boda boda riders, MOGO is transforming individual lives and propelling Uganda towards a more sustainable tomorrow. For riders, it represents a ticket to economic freedom; for the nation, it marks a crucial step toward environmental responsibility. As MOGO continues its innovative trajectory, its unparalleled role in shaping Uganda’s EV ecosystem is set to grow further.