Boda Boda Union Launches Asset Financing and Diversification Initiatives

The United Boda Boda Cooperative Union has unveiled a comprehensive program aimed at enhancing the welfare of its members.

This initiative introduces asset financing options, enabling riders to acquire motorcycles and land, thereby fostering economic empowerment and financial independence within the community.

In a strategic move to alleviate the financial challenges faced by riders, the union has introduced a financing model that allows boda boda stages to acquire motorcycles for as little as UGX 70,000.

These motorcycles are then leased out to trusted individuals within their communities, promoting local ownership and reducing dependency on exploitative loan schemes .

Additionally, the union has facilitated access to land loans in designated areas such as Karagi, Mukono, and Busunju along the Hoima road, empowering riders to invest in property and secure their futures.

“After making through research, we found that Bodaboda riders spend their lifetime in rentals and are even buried while still renting. We want to bring an end to that,” said Frank Mawejje, the Chairperson of the United Boda-boda Cooperative Union.

Expanding its diversification efforts, the union is set to launch its own bottled mineral water brand, ‘Union Water’ scheduled to hit the market by June 10th 2025.

This venture aims to provide riders with additional income streams and promote local entrepreneurship within the community.

To further support its members, the union’s mobile application will offer various benefits, including a savings program through the Union Welfare Bag and assistance with National Social Security Fund (NSSF) contributions.

The welfare fund will see the contributors cash in only Shs 500 per day.

At the event held in Kampala, the Bodaboda Union also unveiled their football and boxing teams that are comprised of exclusively bodaboda riders, in a bid to promote their talents.

Union Chairman Frank Mawejje also emphasised the organisations' dedication to supporting riders in expanding their income sources beyond the boda boda business.

He encouraged riders to join the union and utilise its official app to access these valuable benefits.

"We are committed to empowering our members and providing them with the tools they need to succeed," Mawejje bellowed.

With these initiatives, the United Boda Boda Cooperative Union is paving the way for a more sustainable and prosperous future for its members.

By offering access to affordable financing, promoting diversification through new business ventures, and providing digital tools for financial management, the union is fostering a supportive environment that encourages growth and development within the boda boda community.