Uganda Central Cooperative Financial Services (UCCFS) has signed a groundbreaking Green Asset Financing Agreement with Spiro Uganda, marking a historic milestone in Uganda’s journey toward clean energy and cooperative financial empowerment. The partnership combines Spiro Uganda’s world-class electric motorcycle technology with UCCFS’s extensive national financial network to deploy thousands of e-bikes across Uganda’s cooperative sector.
A New Era for Uganda’s Cooperatives
The agreement represents a fundamental shift in how Uganda’s cooperatives approach both transportation and financial services. Under the framework, SACCO members and staff can now own a Spiro electric motorcycle from as low as UGX 400,000, with flexible repayment terms structured around their earnings. The initiative targets SACCOs, Agricultural Cooperative Enterprises (ACEs), and Rural Producer Organizations (RPOs) nationwide, transforming them from ordinary financial hubs into what the partnership calls “Green Energy Hubs.”
Each participating SACCO will host a battery-swapping station, bringing clean energy infrastructure directly to members’ doorsteps and eliminating one of the biggest barriers to electric mobility adoption in rural and semi-urban Uganda.
What Makes This Partnership Different
Unlike conventional vehicle financing arrangements, UCCFS and Spiro have designed a first-of-its-kind Green Asset Finance Framework built with strong protections for cooperative members. Key features of the agreement include:
— Flexible, income-based repayment plans starting from UGX 400,000 — Decentralized battery-swapping stations hosted at SACCO branches — Buy-back guarantees and portfolio run-off protections to secure members’ capital — A carbon credit-linked model that leverages the environmental value of the electric fleet to enhance financial affordability for members — A self-sustaining ecosystem where green energy directly fuels cooperative financial growth
Leaders Speak on the Vision
UCCFS Chief Executive Officer Patrick Bakunda described the agreement as a turning point for the organization’s mission. “Today, we move from being just lenders to being Green Asset Financiers. We are empowering our SACCOs, ACEs, and RPOs to lead Uganda’s energy transition while securing their financial future,” he said.
Spiro Uganda Country Lead Bruce Mucunguzi echoed the sentiment, emphasizing the partnership’s potential as a continental model. “By bringing our swapping infrastructure directly to the SACCO doorstep, we are removing the barriers to electric mobility. This partnership is the blueprint for how Africa can transition to green energy through the power of cooperatives.”
UCCFS representative added that the framework was deliberately designed to go beyond a simple vendor-buyer relationship. “We are proving that sustainability and profitability are the twin engines of the modern cooperative movement. We aren’t just funding the transition to green energy — we are leading it.”
Why Electric Motorcycles?
Motorcycles, known locally as boda bodas, are the backbone of Uganda’s last-mile transport and a primary source of income for thousands of cooperative members. Conventional fuel-powered motorcycles present significant operating costs and environmental impact. Spiro’s electric motorcycles offer 100% electric performance with rock-solid reliability, advanced security features, and serious income potential — making every ride work harder for the rider while costing less to run.
By financing these assets through the cooperative network, UCCFS ensures that the financial benefits of Uganda’s green energy transition remain within the cooperative movement rather than flowing to outside commercial interests.
A Blueprint for Africa
The UCCFS-Spiro partnership has drawn attention beyond Uganda’s borders, with support from development partners including the Embassy of Norway and IFAD Uganda, reflecting international confidence in the cooperative-led green finance model. Industry bodies including ARCAFIM have also recognized the framework as a potential blueprint for how African cooperative movements can lead — rather than follow — the continent’s clean energy transition.
For UCCFS, this agreement is the latest demonstration of its commitment to innovative, member-centered financial solutions that deliver both economic and environmental returns.
How to Get Your Spiro E-Bike Through UCCFS
SACCO members and staff interested in acquiring a Spiro electric motorcycle through the Green Asset Financing Agreement can contact their nearest UCCFS-affiliated SACCO branch for details on eligibility, deposit requirements, and repayment options.
For more information, visit us at our offices or reach out through our official communication channels.
