As demand for cars grows, dfcu Bank bets on Japan link to fuel Uganda’s mobility
dfcu Bank Uganda officials and Japanese vehicle dealer World Navi president Yoshifumi Sawada (C) pose for a photo at the bank's headquarters in Kampala following the launch of a new car financing scheme on May 15, 2025. PHOTO/HANDOUT
What you need to know:
Japan’s World Navi enters Ugandan market with dfcu Bank in bid to cut unreliable car imports.
dfcu Bank Uganda has teamed up with Japanese vehicle dealer World Navi to roll out a new car financing initiative “aimed at making vehicle ownership more accessible in the East African country.”
Unveiled at dfcu Bank’s headquarters in Kampala, the scheme targets both individual and commercial clients and offers access to brand-new and used cars imported from Japan, backed by what the bank described as “flexible loan terms, warranties, and insurance coverage.”
World Navi President Yoshifumi Sawada said the partnership responds to concerns over the quality of imported vehicles, many of which arrive damaged or not as advertised.
“We understand the frustrations Ugandans face when buying cars online,” Sawada said. “Each vehicle undergoes a rigorous diagnostic inspection in Japan to ensure mechanical integrity. We promise transparency and reliability,” he pledged at Thursday’s launch.
dfcu Bank’s Senior Manager for Vehicle and Asset Finance, Gloria Ssuuna Namutebi, said the financing options reflect the bank’s broader goal of supporting asset acquisition.
“With World Navi, we are offering tailored vehicle loans and leasing options across all client categories,” she told Monitor.
She added: “The terms are flexible and designed to match Uganda’s economic realities.”
The package includes:
- Loan interest rates starting at 17% per annum
- Comprehensive insurance coverage from as low as 2.8%
- Repayment periods of up to seven years for new vehicles
- Five years for reconditioned models
- Four years for vehicles aged between 5 and 15 years
This publication understands that each car will come with a three-month warranty covering engine and transmission components, provided by World Navi.
“This warranty is designed to assure customers of mechanical integrity from the start,” dfcu Bank indicated.
World Navi President Yoshifumi Sawada (left) and dfcu Bank Head of Integrated Channels, Mathias Jumba, pose for a photo at the bank’s headquarters in Kampala on May 15, 2025, following the launch of a new vehicle financing scheme. PHOTO/HANDOUT
The bank said the collaboration is intended to go beyond basic financing. By improving access to reliable cars, the scheme seeks to lower transportation costs, improve logistics for small businesses, and enhance mobility for families across Uganda.
What you must know...How to apply
The financing solution goes live on May 15, 2025. Eligible dfcu Bank customers can apply through any branch or connect with a dfcu agent to explore options tailored to their personal or business needs.
Whether seeking a showroom-fresh import or a budget-friendly pre-owned model, the path to vehicle ownership, the bank said, “has never been clearer.”
Uganda, with a population exceeding 45.9 million people, has just over 2 million cars, according to official government data.
>>>Stay updated by following our WhatsApp and Telegram channels;Daily Monitor Telegram channel Daily Monitor WhatsApp Channel
