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.
Office
UGANDA
53 Chwa II Rd.
Kampala, Uganda
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