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Women using boda loans to acquire wealth

Peter 11th Mar, 2025 Financial Services Business Edge Reporter
Women using boda loans to acquire wealth

Florence Namusisi, a female boda boda rider, waits for customers at her stage in Kamwokya. Women are gradually making inroads in the male dominated industry.


Countrywide, boda bodas have become an essential part of urban transportation, driving daily commutes and fueling economic activity. However, what was once a typically male-dominated industry is now undergoing a remarkable transformation, with women who once hesitated to join the trade, steering their way toward financial independence, thanks to the rise of motorcycle asset financing.

This financing model, which allows individuals to acquire motorcycles with a small down payment followed by manageable installments, has become a game-changer for women like Margaret Nabulime who presently owns a fleet of three motorcycles. Unlike traditional loans that require a large upfront payment, motorcycle asset financing enables these women to own the asset gradually, alleviating the financial strain that typically accompanies large lumpsum payments.

Nabulime says her journey into the motorcycle business began only last year, when her brother introduced her to Watu Uganda, a company offering asset financing, including motorcycle loans.

  • At the time, Nabulime was selling second-hand clothes, but her brother convinced her that owning a motorcycle would diversify her income. Little did she know that this decision would stabilise her business and transform her marriage.

"I can't ride a motorcycle but I employ a rider, and it's been working well. Barely a year since I got my first bike on loan, I now own three. It’s helped me to contribute to my home, and my husband respects me more. Men love women who add value, and now, I’m no longer a financial burden," she says.

For Irene Aturinda, owning a motorcycle was born out of necessity. In 2012, she was running a small retail shop in Luzira, on the outskirts of Kampala, but lacked the means to transport her goods.

  • "My husband is a salary earner, and I needed something to supplement our income," she recalls. Initially, Aturinda used an old motorcycle that her husband had bought for her, but as her business grew, she recognised the potential of expanding her fleet.

"I didn’t have the cash for a new one, but a friend told me about Watu Uganda. I paid UGX 800,000 as a deposit, and the rest is history. Now, I own three bikes and earn more than UGX40,000 daily. It’s been a huge relief for my husband too. We no longer worry about food or emergencies," she explains.

These women are not only improving their own lives but also making a positive impact in their communities. With the income generated from their motorcycle fleet, they’ve supported their families, invested in property, and even built homes. The ripple effect is evident - financial independence fosters stronger family ties and more stable households.

Despite the rewards, challenges remain. Both Nabulime and Aturinda highlight difficulties such as unreliable riders and delayed payments.

However, the positive outcomes far outweigh these challenges. According to Diana Wafula, the Watu Uganda Branch Manager in Lugogo, these women are breaking barriers in what has traditionally been a male-dominated industry.

  • "Women in Uganda face several challenges, from social pressures to limited access to finance, but we are addressing these challenges with tailored solutions. Through flexible financial arrangements and training, we’ve seen women start businesses and expand into multi-bike fleets," Wafula notes.
  • Moreover, she points out that women are increasingly taking on roles that were once considered unsuitable, such as managing motorcycle fleets and handling business finances. "We’ve seen more women take on leadership roles in their businesses. It’s not just about the bikes; it’s about building a legacy and gaining respect in the community," she notes.

The success of women in motorcycle asset financing underlines the importance of financial empowerment. When women contribute to household income, they reduce financial stress and improve family well-being. The benefits are far-reaching - they reduce gender-based violence, improve relationships, and foster balanced households.

Nabulime, who says her journey has been all about perseverance, growth, and empowerment, has some valuable advice for fellow women.

"If you want change, don’t wait for it to come. Get out there, work hard, and take the opportunities that come your way. The motorcycle business is not just about transport but a lifeline that can help you grow, thrive, and make a difference," she says.

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