KAMPALA, UGANDA – MOGO Uganda, a leading electric vehicle (EV) financier, has significantly expanded access to sustainable transportation in Uganda by providing affordable loans for electric motorcycles, primarily to the nation’s vital boda boda riders. As of May 2025, MOGO had issued 1,500 EV loans, empowering riders and contributing to the growing shift toward electric mobility.

A part of the global FinTech company Eleving Group, MOGO Uganda focuses on making electric motorcycles affordable for boda boda operators, who often face financial hurdles. Through partnerships with EV manufacturers like Zembo, Spiro, and eBee, MOGO offers tailored financing solutions for cutting-edge electric bikes such as the Zembo Thunder and Spiro Ekon.

“Without MOGO’s innovative financing, this rapid progress in Uganda’s e-mobility ecosystem simply wouldn’t be possible,” the company stated.

Bashir Mutumba, a Kampala-based boda boda rider, exemplifies the impact of MOGO’s financing. Struggling with high fuel and maintenance costs for his petrol-powered bike, Mutumba secured an electric bike loan with a down payment of UGX 600,000 and weekly installments of UGX 77,000. He now reports tripling his previous income, benefiting from the electric bike’s lower running costs—approximately UGX 8,000 for 80 kilometers compared to UGX 10,000 for 70 kilometers on fuel.

MOGO’s financing model is tailored for Uganda’s informal sector, offering loan processing within 24 hours and flexible credit reviews. To mitigate theft concerns, bikes are equipped with GPS tracking, providing peace of mind for riders repaying loans over 18 to 30 months. This accessibility has contributed to MOGO’s position as Uganda’s largest EV financier, enabling riders to cover over 2.5 million kilometers on clean energy.

A significant milestone for MOGO occurred in September 2024 when it secured a UGX 19 billion loan facility from Absa Bank Uganda, with an initial UGX 5 billion tranche already disbursed. These funds target boda boda operators, aligning with Uganda’s goal, as outlined by the World Bank, to reduce the informal sector from 51% to 45% by 2025. By offering local currency loans, MOGO also protects riders from foreign exchange risks.

Beyond economic benefits, MOGO’s efforts contribute to environmental change. Uganda’s transport sector accounts for roughly 50% of energy-related greenhouse gas emissions, according to the United Nations Environment Programme (UNEP). Electric bikes, with zero tailpipe emissions, offer a solution by reducing noise and air pollution in cities like Kampala. MOGO’s financing supports UNEP’s Global Electric Mobility Programme and Uganda’s e-mobility push through its partnerships with reliable local EV manufacturers.

MOGO’s leadership was recognized during the E-Mobility Parade, organized by the Science, Technology, and Innovation (STI) Secretariat ahead of the National Science and Technology Week in 2024, where it was highlighted as Uganda’s top EV financier.

Despite challenges such as persistent theft risks and the need for expanded charging infrastructure, MOGO’s progress in bridging the access gap for boda boda riders is transforming lives and supporting Uganda’s move toward a greener future.