dfcu Bank has today officially announced its partnership with World Navi Company Limited, a trusted motor vehicle dealership, to launch an innovative Vehicle and Asset Financing solution aimed at simplifying car ownership in Uganda. The official announcement took place at the dfcu Bank Headquarters in Nakasero.
This partnership aims to offer flexible and affordable financing options for individuals and businesses seeking to import high-quality vehicles from Japan. This segment is a credit product designed for all dfcu Bank customers across the business Segments (CIB, Commercial, Enterprise, and Personal) to facilitate the purchase of movable assets.
Speaking during the partnership unveiling, Yoshifumi Sawada, World Navi President, said, ‘’I am so excited that we have introduced our product together with dfcu Bank. We came to learn some of the challenges customers face when purchasing vehicles online, as these include receiving cars that are way different from what they ordered or worse, while some are damaged and tampered with. At World Navi, we want our customers to receive their cars, smile, and drive off with confidence and satisfaction. Additionally, we conduct thorough inspections using diagnostic systems to check every mechanical aspect to ensure everything works perfectly before the car leaves Japan. ‘’
Gloria Ssuuna Namutebi, Senior Manager of Vehicle & Asset Finance at dfcu Bank, said, “dfcu Bank has been a leader in leasing, and we want to maintain that position. That is why among the key pillars the bank is undertaking are partnerships. We do vacant asset financing, enabling our customers to acquire the assets they want, and we do this for our CIB, commercial enterprise, and personal clients. CIB is corporate and investment banking clients who are big corporate companies, as we give them assets that are easily identifiable, insurable, and durable, and can easily be taken to the market. That is why we take vehicle financing as a key product that we finance.”
‘’We have three solutions we offer to our clients. Majorly, we have the asset finance that best suits World Navi’s offering because we give customers, especially personal clients, vehicle loans so that they can purchase the cars. We also have the finance list that we normally give to our business clients, where we finance companies to acquire these vehicles for a particular period or time frame’’, she added.
Mathias Jumba, Head – Integrated Channels, dfcu Bank, reaffirmed that through this partnership, dfcu Bank is launching a vehicle asset financing solution designed to empower Ugandans with dignified and affordable access to reliable vehicles.
He said, ‘’As dfcu Bank, we aim to make vehicle ownership more accessible, affordable, and sustainable. Whether you are an aspiring entrepreneur, a growing family, or a seasoned professional, this offering has been designed considering you all in mind.
Through this partnership, dfcu Bank will fully finance vehicle purchases with highly competitive lending rates starting from as low as 17% per annum, making car ownership more accessible than ever before. The offer is extended to both personal and commercial vehicles, recognizing the key role of mobility in Uganda’s socio-economic development.
Centenary Group and Service Cops Sign Strategic Partnership to Accelerate Digital Financial InclusionIn addition to the attractive financing terms, each vehicle will come with a three-month engine and transmission warranty, provided by WorldEnergy, reaffirming the bank’s commitment to quality assurance. Recognizing the unpredictable nature of the road, the vehicles under this plan will also be covered by comprehensive insurance starting at a rate as low as 2.8%, ensuring peace of mind for new car owners.
As part of its mission, dfcu understands that vehicle and asset financing is a strategic lever for national development, enabling individuals and businesses to acquire important assets without straining their cash flows. This support is intended to strengthen long-term growth and productivity among Ugandan households and entrepreneurs.
This product starts from the 15th May 2025, as dfcu Bank customers are invited to own their dream car courtesy of the partnership. All they have to do is walk into any dfcu Bank branch or speak to agents and let the bank power their dreams.
This partnership with WorldNavi is another achievement for the bank’s purpose to transform lives and businesses in Uganda through inclusive, innovative, and sustainable financial solutions.
Tenor Periods for Greater Flexibility
Dfcu Bank and World Navi Company Ltd have revised their financing terms to accommodate various customer needs for private use vehicles, including:
- Max tenor of up to 7 years financing for brand new vehicles, providing long-term affordability.
- 1 to 5 years for pre-conditioned or used vehicles, reducing the financial burden while ensuring reliable mobility.
- For vehicles aged between 6 to 15 years, the tenor has been extended to 4 years, recognizing the significant demand for second-hand vehicles in Uganda.
