ImpactAlpha, February 8 – Kampala-based Tugende offers lease-to-own financing on motorcycles for Uganda’s motorbike taxi, or “boda-boda,” drivers. Swiss impact investing firm PG Impact Investments has provided a $5 million loan to Tugende to expand its lending services.
Boda-bodas are a common mode of transportation in Kampala’s traffic-choked streets. Most drivers rent their bikes because they don’t have the ability to buy a motorcycle outright. Tugende’s mission is to improve asset ownership, boost drivers’ incomes, and improve road safety by offering driver safety instruction and insurance.