Zembo Motorcycles, a Ugandan start-up specializing in electric motorcycles, has obtained $1 million in financing from the Dutch development bank FMO. According to information relayed by the local press, this investment is part of FMO's broader commitment to supporting green, inclusive and sustainable private sector growth in emerging countries

Founded with the ambition to reduce urban air pollution and dependence on fossil fuels, Zembo Motorcycles offers electric motorcycles to professional drivers (commonly known as boda boda operators), either directly or through third-party financial partners. The company operates on a battery as a service model, which allows drivers to exchange their discharged batteries for fully charged batteries at one of its 29 battery exchange stations strategically located in Uganda

This innovative model allows drivers to pay only for the electricity consumed, thus significantly reducing operating costs compared to traditional gas-powered motorcycles. It also eliminates long charging times, making electric mobility more convenient for professional drivers with high consumption.

Zembo currently employs 75 people, most of whom work within its central operations and battery exchange network. The recently approved FMO loan will be used specifically to purchase additional batteries and charging equipment, allowing the company to expand its fleet and battery exchange infrastructure to meet growing demand

This investment is part of FMO's broader commitment to supporting green, inclusive, and sustainable private sector growth in emerging markets. By supporting Zembo, FMO contributes to the development of infrastructure resilient to climate change and to the promotion of clean energy solutions in rapidly urbanizing African cities