This funding is set to power Zembo’s expansion as it works to offer affordable, zero-emission transport solutions across the country.

Founded to tackle the twin challenges of urban air pollution and high fuel costs, Zembo is transforming the way boda boda riders operate. The company offers electric motorbikes through direct purchase or partner financing. Riders benefit from Zembo’s battery-swap model - instead of waiting to charge, they simply exchange a used battery for a fully charged one at one of 29 battery-swap stations spread across Uganda.

This model is both affordable and practical for high-usage riders. It reduces daily fuel expenses, eliminates the need for long charging waits, and significantly lowers overall maintenance costs.

"The funding will help us scale our in-house battery assembly and charging infrastructure, expanding access to affordable, zero-emission transport for more commercial riders across the country," Zembo said in a statement.

Zembo currently employs 75 staff members, many of whom manage its fast-growing operations and battery network. The new funds will allow the company to scale up local battery production and charging systems, helping more boda riders transition to electric vehicles.

The investment aligns with FMO’s mission to promote green growth and social inclusion in developing countries. FMO officially labelled this deal as 100% Green and Reducing Inequalities, recognising the dual environmental and social benefits Zembo brings.

By backing Zembo, FMO joins the push toward a cleaner, smarter transport future in Uganda—one where boda bodas don’t just get people from point A to B, but also power economic opportunity and climate action.

Zembo has joined forces with MAMIDECOT, a Savings and Credit Cooperative (SACCO) in the Greater Masaka Region and Vision Fund to offer cheap credit to customers who want to acquire our electric motorcycles. Masaka is a key coffee-growing and transport region in southern Uganda, where boda-bodas are essential for moving people and goods. With fuel prices above UGX 5,000 per litre (well above the global average) and motorcycles making up over 50% of motorised traffic in Uganda (GiZ/Changing Transport, 2022), scaling e-mobility here is strategic.

Zembo already serves the Masaka community with around 100 active riders and six battery-swapping stations in the region.

Impact for Uganda:

  •  E-boda bodas cut harmful exhaust pollution and help fight climate change.

  •  Even without resale value, they save riders money through lower fuel and maintenance costs.

  • Zembo retains battery ownership, ensuring proper second-life use and responsible recycling.

  •  The business supports green jobs, clean air and healthier urban living, and higher earnings for riders.