Airtel Money, in partnership with Spiro Uganda and gnuGrid CRB have launched Uganda’s first AI-powered electric motorcycle loan on the market. The ground breaking initiative, unveiled at Four Points Kampala, aims to revolutionize mobility and financial access in Uganda.
The big picture of the launch is to strengthen the good behavior of people with Mobile Money to build a good credit score and borrowing. When this happens, it reduces the cost of borrowing. If there are more good payers, the cost of borrowing decreases.
Gaurav Anand, Managing Director of Spiro Uganda, described the launch as a transformative moment for Africa. “We are automating bike purchasing—from the down payment to the final transaction—making ownership easier,” he stated.
Bruce Mucunguzi, Deputy Managing Director of Spiro Uganda, highlighted Spiro’s role in reducing greenhouse gas emissions by 21,000 tones through its electric mobility solutions. “This initiative expands access to electric transport and financial services, eliminating barriers to ownership,” he said.
Opio Obwangamoi David, Executive Director of gnuGrid CRB, emphasized Uganda’s financial gap, noting that nearly 22 million Ugandans remain unbanked. “With only 2.5 million people served by traditional banks, alternative financial solutions are essential. This innovation enables individuals to access loans through Airtel Money,” he said.
Japhet ARITHO, Managing Director of Airtel Money, stressed the impact of digital connectivity on credit accessibility. “Telecom data now allows us to assess customers’ ability to pay, eliminating the need for collateral and making loans more accessible,” he explained.
Kaushik Burman, Group CEO of Spiro Uganda, highlighted the initiative’s potential to transform livelihoods. “Without mobility, financial inclusion remains out of reach. This partnership ensures more people can access affordable transport and credit,” he said.
Additionally, Spiro Uganda has introduced fast-charging battery swap stations and home charging kits, further simplifying electric motorcycle ownership.
The Airtel Money Spiro partnership demonstrates how financial technology and electric mobility can drive sustainable development. With affordable loans, reduced emissions, and expanded job opportunities, this initiative sets a new benchmark for Uganda’s transport and financial sectors.