Africa-Press – Uganda. NCBA Bank Uganda Limited and Motorcare Uganda, the authorized dealer for Nissan vehicles, unveiled a collaborative asset financing program aimed at significantly increasing affordable access to brand-new vehicles for both individual and corporate clients.
The three-month initiative, branded “Drive Your Dream Today,” empowers customers to acquire zero-mileage vehicles under advantageous financial terms.
This strategic alliance enables eligible customers to access financing up to 100% of the vehicle cost, with the option of a minimum 10% equity contribution.
Competitive interest rates are offered for both Uganda Shillings (Shs) and United States Dollar (USD) facilities. The program includes a two-month repayment holiday, easing the initial financial transition for new vehicle owners. Demonstrating a commitment to sustainability, reduced financing rates are available for electric vehicles (EVs).
Key benefits include discounted vehicle prices from Motorcare Uganda, flexible repayment options of up to six years tailored to cash flow, and the elimination of processing fees.
Subsidised comprehensive vehicle insurance further reduces costs. The financed vehicles serve as collateral, negating the need for additional security.
Targeting individuals with a minimum monthly income of Shs 5 million and businesses seeking fleet expansion, NCBA Bank aims to finance over 100 vehicles during the campaign, driving asset financing adoption in Uganda.
Mark Muyobo, CEO of NCBA Bank Uganda Limited, stated, “This partnership with Motorcare Uganda is designed to make vehicle ownership more accessible without straining cash flow. Customers benefit from discounted prices, manageable instalments, zero processing fees, and a repayment holiday.”
This campaign is integral to NCBA’s strategy to lead Uganda’s asset financing sector, aiming for over 80% top-of-mind awareness and a 50% increase in green financing to accelerate EV adoption.
“Our collaboration with Motorcare Uganda underscores our commitment to fostering growth in Uganda’s vehicle ownership market, benefiting individuals, businesses, and the broader economy,” added Mr. Muyobo.
The initiative is expected to boost new vehicle demand, local dealerships, and insurance activity, strengthening NCBA’s position in Uganda’s financial ecosystem.
Florence Ssempebwa Makada, Managing Director of Motorcare Uganda, highlighted the environmental and economic rationale. “Only about 3,000 of the 22,000 vehicles sold annually in Uganda are new, leading to increased pollution from used cars. Our goal is to convert just 30% of that segment to brand-new, cleaner vehicles.”
“We offer compelling prices, 100,000 km of free service, and unmatched reliability,” Ms. Makada noted. “Why spend Shs 100 million on a used car when you can get a brand-new one with a service guarantee and zero mileage?”
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