Double Q Company Limited has partnered with dfcu Bank and ICEA LION General Insurance to make new commercial vehicles and equipment more accessible to Ugandan businesses, combining vehicle supply, asset financing and insurance under a single mobility solution.
The partnership targets businesses, fleet owners, entrepreneurs and transport operators seeking to modernise their fleets without tying up significant amounts of working capital.
Under the arrangement, dfcu Bank will finance between 80% and 100% of the value of eligible commercial vehicles and equipment, substantially reducing the upfront capital required by customers.
ICEA LION General Insurance will provide comprehensive motor insurance covering risks including accidents, theft, fire and third-party liability, completing what the partners describe as an end-to-end solution for acquiring and protecting commercial assets.
The partnership comes as Uganda’s vehicle market remains dominated by used imports, with industry estimates indicating that about 85% of vehicles entering the country are second-hand, compared with 15% that are new.
While lower acquisition costs have traditionally driven demand for used vehicles, businesses are increasingly considering new commercial fleets because of their potential for better fuel efficiency, lower maintenance costs, improved reliability, enhanced safety and higher productivity.
Double Q Head of Marketing Richard Musani said access to affordable financing remains one of the biggest barriers preventing businesses from investing in new commercial vehicles.
“At Double Q, our mission is to let our customers succeed. We understand that access to affordable financing has been one of the biggest barriers preventing many businesses from investing in new commercial vehicles,” Musani said.
He said the partnership with dfcu Bank and ICEA LION General Insurance would allow customers to acquire vehicles while simultaneously accessing financing and insurance protection.
“This partnership empowers businesses to invest in productivity today while positioning themselves for long-term growth,” he said.
Musani also highlighted Double Q’s growing focus on electric and alternative mobility solutions as businesses contend with higher fuel costs.
The company has expanded its electric vehicle offering across several product categories, including XCMG earth-moving equipment, Sinotruk light and heavy commercial trucks, GWM passenger vehicles and Heli material-handling equipment.
Customers can access the GWM Tank 500 and Haval H6 as plug-in hybrid electric vehicles, while the HOWO NX Tractor Truck, XCMG Wheel Loader and Heli 5-tonne Forklift are available in electric versions.
“We recognise that fuel costs are an important consideration for our customers, and we are responding by expanding access to practical alternative mobility solutions across our product range,” Musani said.
Double Q Managing Director Lin Yu said the acquisition of a new commercial vehicle should be viewed as a strategic investment rather than simply a purchase.
“Modern commercial vehicles deliver measurable business value through improved fuel efficiency, enhanced safety, greater reliability and lower operating costs,” Lin said.
He added that Double Q’s after-sales services, genuine spare parts, technical support and manufacturer-backed warranties are designed to help customers maximise vehicle uptime and improve returns on their investments.
“We are proud to partner with dfcu Bank and ICEA LION General Insurance to make these benefits more accessible to businesses across Uganda,” Lin said.
For dfcu Bank, the partnership provides an opportunity to deepen support for productive investment by businesses.
Kate K. Kiiza, Executive Director and Chief Corporate and Institutional Banking Officer at dfcu Bank, said access to finance can play a critical role in helping enterprises expand their productive capacity.
“At dfcu Bank, we believe access to finance should unlock opportunities for businesses to grow and compete effectively,” Kiiza said.
She said eligible customers can finance up to 100% of the purchase price of commercial vehicles and equipment, allowing businesses to preserve working capital while acquiring productive assets.
“We are delighted to partner with Double Q and ICEA LION General Insurance to provide a financing solution that supports enterprise growth, job creation and Uganda’s economic development,” she said.
ICEA LION General Insurance Chief Executive Officer Ambrose Kibuuka said insurance was equally important in protecting businesses against risks associated with commercial vehicle ownership.
“Every commercial vehicle represents a significant investment, and protecting that investment is critical to business continuity,” Kibuuka said.
He said the insurer would provide comprehensive motor insurance solutions to protect customers’ assets against unforeseen risks.
“Together with Double Q and dfcu Bank, we are delivering a seamless end-to-end mobility solution that enables customers to acquire, finance and protect their vehicles with confidence,” he said.
The partnership is expected to benefit businesses operating in logistics, construction, agriculture, manufacturing, mining, distribution and public transportation.
Beyond financing and insurance, customers will have access to Double Q’s after-sales support network, including servicing, genuine spare parts, technical assistance and manufacturer-backed warranties.
The initiative also carries an environmental dimension as businesses increasingly seek to reduce fuel consumption and operating costs.
The partners argue that newer vehicle technologies, including hybrid and electric models, can support the gradual modernisation of Uganda’s commercial fleet while reducing emissions compared with ageing vehicles.
Easier access to new commercial vehicles could have implications beyond individual businesses Double Q Company Limited has partnered with dfcu Bank and ICEA LION General Insurance to make new commercial vehicles and equipment more accessible to Ugandan businesses, combining vehicle supply, asset financing and insurance under a single mobility solution.
The partnership targets businesses, fleet owners, entrepreneurs and transport operators seeking to modernise their fleets without tying up significant amounts of working capital.
Under the arrangement, dfcu Bank will finance between 80% and 100% of the value of eligible commercial vehicles and equipment, substantially reducing the upfront capital required by customers.
ICEA LION General Insurance will provide comprehensive motor insurance covering risks including accidents, theft, fire and third-party liability, completing what the partners describe as an end-to-end solution for acquiring and protecting commercial assets.
The partnership comes as Uganda’s vehicle market remains dominated by used imports, with industry estimates indicating that about 85% of vehicles entering the country are second-hand, compared with 15% that are new.
While lower acquisition costs have traditionally driven demand for used vehicles, businesses are increasingly considering new commercial fleets because of their potential for better fuel efficiency, lower maintenance costs, improved reliability, enhanced safety and higher productivity.
Double Q Head of Marketing Richard Musani said access to affordable financing remains one of the biggest barriers preventing businesses from investing in new commercial vehicles.
“At Double Q, our mission is to let our customers succeed. We understand that access to affordable financing has been one of the biggest barriers preventing many businesses from investing in new commercial vehicles,” Musani said.
He said the partnership with dfcu Bank and ICEA LION General Insurance would allow customers to acquire vehicles while simultaneously accessing financing and insurance protection.
“This partnership empowers businesses to invest in productivity today while positioning themselves for long-term growth,” he said.
Musani also highlighted Double Q’s growing focus on electric and alternative mobility solutions as businesses contend with higher fuel costs.
The company has expanded its electric vehicle offering across several product categories, including XCMG earth-moving equipment, Sinotruk light and heavy commercial trucks, GWM passenger vehicles and Heli material-handling equipment.
Customers can access the GWM Tank 500 and Haval H6 as plug-in hybrid electric vehicles, while the HOWO NX Tractor Truck, XCMG Wheel Loader and Heli 5-tonne Forklift are available in electric versions.
“We recognise that fuel costs are an important consideration for our customers, and we are responding by expanding access to practical alternative mobility solutions across our product range,” Musani said.
Double Q Managing Director Lin Yu said the acquisition of a new commercial vehicle should be viewed as a strategic investment rather than simply a purchase.
“Modern commercial vehicles deliver measurable business value through improved fuel efficiency, enhanced safety, greater reliability and lower operating costs,” Lin said.
He added that Double Q’s after-sales services, genuine spare parts, technical support and manufacturer-backed warranties are designed to help customers maximise vehicle uptime and improve returns on their investments.
“We are proud to partner with dfcu Bank and ICEA LION General Insurance to make these benefits more accessible to businesses across Uganda,” Lin said.
For dfcu Bank, the partnership provides an opportunity to deepen support for productive investment by businesses.
Kate K. Kiiza, Executive Director and Chief Corporate and Institutional Banking Officer at dfcu Bank, said access to finance can play a critical role in helping enterprises expand their productive capacity.
“At dfcu Bank, we believe access to finance should unlock opportunities for businesses to grow and compete effectively,” Kiiza said.
She said eligible customers can finance up to 100% of the purchase price of commercial vehicles and equipment, allowing businesses to preserve working capital while acquiring productive assets.
“We are delighted to partner with Double Q and ICEA LION General Insurance to provide a financing solution that supports enterprise growth, job creation and Uganda’s economic development,” she said.
ICEA LION General Insurance Chief Executive Officer Ambrose Kibuuka said insurance was equally important in protecting businesses against risks associated with commercial vehicle ownership.
“Every commercial vehicle represents a significant investment, and protecting that investment is critical to business continuity,” Kibuuka said.
He said the insurer would provide comprehensive motor insurance solutions to protect customers’ assets against unforeseen risks.
“Together with Double Q and dfcu Bank, we are delivering a seamless end-to-end mobility solution that enables customers to acquire, finance and protect their vehicles with confidence,” he said.
The partnership is expected to benefit businesses operating in logistics, construction, agriculture, manufacturing, mining, distribution and public transportation.
Beyond financing and insurance, customers will have access to Double Q’s after-sales support network, including servicing, genuine spare parts, technical assistance and manufacturer-backed warranties.
The initiative also carries an environmental dimension as businesses increasingly seek to reduce fuel consumption and operating costs. The partners argue that newer vehicle technologies, including hybrid and electric models, can support the gradual modernisation of Uganda’s commercial fleet while reducing emissions compared with ageing vehicles.
Easier access to new commercial vehicles could have implications beyond individual businesses. Modern fleets can improve logistics efficiency, reduce vehicle downtime and support productivity across sectors that depend heavily on transport and machinery.
The partnership therefore positions vehicle financing not simply as a consumer lending product, but as a mechanism for productive investment, enabling businesses to acquire assets that can generate revenue while preserving cash for day-to-day operations and expansion.
Customers interested in the financing and insurance package can visit Double Q showrooms or dfcu Bank branches across Uganda for information on eligible vehicle models, financing terms and available insurance solutions.