By Mark Kawalya
GOGO, and its financing partner Watu have recently marked a significant achievement. Through their partnership, the duo has celebrated the sale of the 1,000th electric motorcycle in Uganda. GOGO specializes in cutting-edge lithium-ion battery technology, that caters to various applications. These include electric motorcycles, agricultural equipment, and renewable energy storage.
Watu, an asset financing company focuses on driving financial inclusion across Africa. The firm is establishing a network that allows unbanked individuals to access mobility and connectivity tools. This will encourage digital literacy, economic growth, improved quality of life. Watu reports having facilitated over 1 million loans across seven countries, positively impacting the lives of more than 4 million people.
Partnerships like these, between electric motorcycle companies and financing players are crucial in expediting the adoption of electric mobility. This especially true, in sectors like Africa’s vibrant motorcycle taxi industry.
The strides made in the initial eight months of this collaboration are worth noting, highlighting the positive outcomes of the joint efforts between GOGO and Watu in Uganda. This collaboration demonstrates the untapped potential within the African electric vehicle (EV) market. It also showcases how innovative, locally tailored solutions, backed by accessible financing, can drive economic and environmental advancements.
Lithium-ion batteries used in electric boda bodas contribute to approximately 30% savings in comparison to traditional fuel costs. Formerly earning between UGX30,000 and UGX40,000 per day, riders now experience an increase in income, ranging from UGX70,000 to UGX90,000. With a battery swap costing 5,000 UGX, in contrast to 15,000 UGX for fuel, riders typically require just one swap per day. This leads to a substantial reduction in operational costs.
GOGO’s battery swap network is makes it easy for riders to conveniently recharge through battery swapping. GOGO, operating since 2019, has been a pioneering force in sustainable transportation solutions in East Africa.
