PROJECTS

Tugende

Finances income-generating assets for proven entrepreneurs. It invests in giving a chance to customers generally unable to access traditional credit providers, including most micro-finance institutions—often due to a lack of existing collateral

Business description

TUGENDE provides asset financing for bodas (motorcycle taxis) and gives its customer safety, financial literacy training and a customized bundle of insurance products (life, health, and liability). At the end of the lease, the riders double their income, have a stable source on earning money and own an asset.

Social Challenges addressed

Tugende directly improves the livelihoods of its customers by:

Boda drivers’ income roughly doubles from $5/day before ownership to $10/day afterwards.
Tugende provides a stable source of income for the rider and his family.
Allowing them to own a valuable, productive asset at the end of the financing period.
Drivers receive several other benefits as insurance and driving permits for their bikes.
Tugende offers an employment to usually young people in Uganda where there is a high unemployment rate, and even higher for young people.