dfcu Bank has partnered with Double Q Company Limited to make it easier for Ugandan businesses and individuals to acquire commercial vehicles, construction equipment, passenger electric vehicles and forklifts through a comprehensive Vehicle and Asset Finance solution designed to remove one of the biggest barriers to growth: the high upfront cost of productive assets.
Launched today at the Double Q showroom in Bugolobi, Kampala, the partnership brings together dfcu Bank’s specialist asset financing capability, Double Q’s portfolio of globally recognised vehicle and equipment brands and insurance support from ICEA LION General Insurance. Alongside financing, customers will have access to a range of value-added ownership benefits designed to support the long-term performance and protection of their investment.
Many businesses depend on vehicles and equipment to expand operations, improve efficiency and pursue new opportunities. However, the upfront cost of acquiring these assets can place significant pressure on working capital, delaying investment and growth.
The partnership seeks to address that challenge by enabling customers to acquire the assets while spreading payments over time through structured financing solutions. With MSMEs accounting for approximately 90% of Uganda’s private sector production and employing more than 2.5 million people, access to productive assets remains a critical driver of business growth.
Under the partnership, subject to dfcu Bank’s, customers purchasing vehicles and equipment from Double Q can access financing of up to 90% for commercial assets, with repayment periods of up to five years. Selected passenger and electric vehicles are eligible for financing of up to 100% with repayment tenors of up to seven years. Customers can also access competitive insurance cover, dealership discounts, priority allocation on selected vehicles, maintenance support and extended warranty benefits.
Models available under the partnership include the GWM Tank 500, GWM P300 SX pickup and HAVAL H6 GT Plug-in Hybrid Electric Vehicle, alongside SINOTRUK commercial trucks, XCMG construction and mining equipment and Heli electric forklifts.
“Asset finance is not simply a loan product, it is a growth tool,” said Gloria Namutebi, Head of Vehicle and Asset Finance at dfcu Bank. “It allows a logistics company to add a truck, a contractor to acquire equipment, or an entrepreneur to purchase a reliable vehicle without draining the cash needed to keep the business running. This partnership with Double Q makes that option more accessible for customers looking at these specific brands. Secondly the partnership allows dfcu to offer green financing for electric /hybrid personal vehicles with the latest modern accessories.”
Kate Kiiza, Executive Director and Chief Corporate & Institutional Banking Officer at dfcu Bank, said the partnership reflects the bank’s commitment to financing productive sectors of the economy.
“When businesses can access the equipment, vehicles and machinery they need, they are able to serve more customers, create jobs and operate more efficiently. Productive assets are at the heart of competitiveness across logistics, construction, manufacturing, agriculture and trade. By bringing together financing, insurance and trusted equipment suppliers, we are helping businesses invest in growth while preserving the working capital they need to run their operations.”
Bruce Lin Yu, Managing Director of Double Q Company Limited, welcomed the partnership and its potential to accelerate business growth across multiple sectors.
“Modern commercial vehicles deliver measurable business value through improved fuel efficiency, enhanced safety, greater reliability and lower operating costs. Combined with our professional after-sales support, genuine spare parts and manufacturer-backed warranties, customers can maximise vehicle uptime and achieve stronger returns on investment. We are proud to partner with dfcu Bank and ICEA LION General Insurance to make these benefits more accessible to businesses across Uganda.”
As Uganda’s businesses continue to invest in logistics, construction, trade, manufacturing and transport, access to the right assets will increasingly determine their ability to compete and grow.
The launch comes at a time when businesses and individuals increasingly seek flexible ways to acquire vehicles and equipment without making large upfront capital commitments, allowing them to preserve working capital while investing in the assets required to grow and operate more efficiently.
