ED Ayebazibwe noted that boda boda riders alone are a sector that is the 2nd highest employer in Uganda after agriculture, making it an area for the bank to advance their goal of financial inclusion for Ugandans.<\/p>\n\n\n\n
\u201cUp to 20% of Uganda\u2019s population of 45.9 million depend on the boda boda industry. On average, a boda rider has a household of 5-9 members. If we support him or her in doing work, we reach up to 5 to 7 million Ugandans,\u201d Ayebazibwe said.<\/p>\n\n\n\n
She added, \u201cOur partnership with Boda Boda riders goes beyond finance; it\u2019s about creating jobs, supporting sustainable businesses, promoting affordable housing, and embracing eco-friendly solutions like electric motorcycles. At Housing Finance Bank, we are committed to building a future that benefits people, communities, and the environment.\u201d<\/p>\n\n\n\n Earlier, the Head of the Microfinance Department, Annet Nakidde Sebugwaawo, reaffirmed the bank\u2019s commitment to empowering the transport sector.<\/p>\n\n\n\n \u201cWe are proud to continue supporting riders and drivers with tailored financial solutions that foster decent living and economic growth. Together with the \u201cUnion\u201d, we believe we can transform the transport ecosystem and uplift communities,\u201d Nakidde Sebugwaawo said.<\/p>\n\n\n\n Senoga hailed<\/strong><\/p>\n\n\n\n Housing Finance officials hailed Fred Senoga, the Business Product Advisor of the \u201cUnion\u201d, for his efforts to unite the transport sector, by bringing together boda boda, bus and taxi drivers and having them use their numbers to improve their financial standings as a group.<\/p>\n\n\n\n \u201cThrough discipline, strong systems, and visionary leadership, we can unlock the full potential of Uganda\u2019s transport sector. Through organizing boda bodas, taxis, and buses, we will transform it into a powerful economic engine, creating new opportunities for thousands to build their futures,\u201d he said.<\/p>\n\n\n\n Senoga revealed that the \u201cUnion\u201d has resolved to work together with Housing Finance Bank to \u2018fuel\u2019 the transport ecosystem. He narrated the various milestones in the last 12 months, which have included bringing together boda, bus, and taxi drivers to chase the same vision and various pacesetting partnerships.<\/p>\n\n\n\n Numbers do not lie<\/strong><\/p>\n\n\n\n \u201cNumbers do not lie. In 90 days 10,000 EV bikes have been acquired,\u201d he said, showing the benefits of partnerships for \u201cUnion\u201d members.<\/p>\n\n\n\n Senoga revealed they intend to sell up to 100,000 EV bikes in the next year, 100,000 EV taxis and have a footprint in Uganda\u2019s 72,000 villages by creating basic \u201cUnion\u201d villages for housing in each of them.<\/p>\n\n\n\n Boda boda leaders across Uganda are encouraging riders to adopt electric motorcycles as a cost-saving and environmentally friendly alternative to petrol-powered bikes.<\/p>\n\n\n\n He said, the \u201cUnion\u201d has embraced collaboration as its greatest strength.<\/p>\n\n\n\n \u201cWe have built partnerships across Uganda\u2019s mobility, financial and ecosystem, including NSSF, to bridge the social security gap; Housing finance Ugnada for affordable housing projects; MTN Uganda for mobile money, device financing and connectivity; Next Media (NBS) for nationwide awareness; Spiro, Honda and Simba for bike supply; RZ Innovations for vehicle spare parts and supplies and Bleep for logistics and authentication technology,\u201d Senoga said ahead of today\u2019s MOU with HFB.<\/p>\n\n\n\n In the most recent partnership, the \u201cUnion\u201d launched a partnership with the National Social Security Fund (NSSF), targeting to mobilise up to UGX365 billion annually from one million boda boda riders and taxi drivers.<\/p>\n\n\n\n \u201cFor years, riders have struggled to save consistently despite earning daily income. We are targeting to recruit 1 million boda boda riders, saving UGX 1000 daily,\u201d Senoga said.<\/p>\n","protected":false},"excerpt":{"rendered":" Housing Finance Bank (HFB) has signed a Memorandum of Understanding with \u201cUnion\u201d \u2014the national boda riders cooperative\u2014in an initial step to strengthening and empowering riders, bus and taxi drivers, and in the future, women market vendors, with tailored financial solutions for a better livelihood. As a first step, officials of National Boda Boda, together with bus […]<\/p>\n","protected":false},"author":8864,"featured_media":41092,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_paywall_metabox":[],"jnews_override_counter":[],"footnotes":""},"categories":[101,98,103],"tags":[31,9211,109,119,9438],"class_list":["post-41091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","category-tech","tag-featured","tag-housing-finance-bank","tag-news","tag-uganda-news","tag-union-boda"],"yoast_head":"\n![\"\"](\"https:\/\/www.independent.co.ug\/wp-content\/uploads\/2025\/11\/housing-deal-bb.jpg\")
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<\/figure>\n\n\n\n