Watu

Watu Credit Uganda Limited is a prominent asset financing company dedicated to enhancing financial inclusion and mobility for underserved populations in Uganda. Since its inception in 2019, Watu has provided over 130,000 boda boda (motorcycle taxi) loans, positively impacting more than half a million individuals across the country.

🚀 Services Offered by Watu Uganda

1. Boda Boda Financing

Watu offers accessible motorcycle loans tailored for entrepreneurs:

• Down Payment: Starting from UGX 1,000,000 for internal combustion engine (ICE) bikes and UGX 600,000 for electric bikes.

• Repayment Terms: Flexible plans up to 24 months.

• Loan Features: Includes free GPS tracking and quick processing—often within 2 hours.

• Requirements: National ID, mobile money account (MTN or Airtel), and two guarantors (not required for electric bikes).

2. Electric Mobility Initiatives

In partnership with GOGO, Watu has financed over 1,000 electric motorcycles in Uganda, promoting environmentally friendly transportation options.

3. Smartphone Financing (Watu Simu)

Watu Simu provides affordable financing for Samsung Galaxy smartphones:

• Loan Duration: 52 weeks with weekly payments.

• Eligibility: Applicants must be at least 18 years old, possess a National ID, have no active loans with Watu, and maintain an active mobile money account.

🌍 Social Impact and Recognition

• Client Protection Certification: Watu Uganda is among the few African financial institutions to receive this certification from Microfinanza Rating, highlighting its commitment to ethical lending practices.

• Youth and Rural Focus: Approximately 90% of Watu’s clients are young entrepreneurs aged between 20 and 28, with 70% residing in rural areas.

• Women Empowerment: In 2025, Watu launched its first women-only branch in Kampala to support female riders in acquiring motorcycles through tailored loan programs.

💼 Funding and Partnerships

• FMO Investment: The Dutch development bank FMO approved a $5 million loan to Watu Uganda to expand its micro, small, and medium enterprise (MSME) e-mobility portfolio, particularly focusing on youth and rural entrepreneurs.

• Verdant Capital Hybrid Fund: This fund invested $7 million in Watu Uganda to support the expansion of two-wheeler financing across the country.

📍 Branch Network

Watu operates multiple branches across Uganda, including in Kampala, Jinja, Mbale, and Mbarara. Customers can visit these branches to apply for loans and receive assistance from Watu’s team.