Asaak Financial Services
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Founded Date January 1, 1900
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Sectors Finance
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Posted Jobs 1
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Viewed 12
Company Description
Asaak Financial Services is a technology-driven asset financing company headquartered in Kampala, Uganda, that specializes in providing credit to the “informal” transport sector. Founded in 2016, the company initially began as a traditional microfinance lender in Soroti before pivoting to a tech-enabled model focused on helping boda-boda (motorcycle taxi) riders and small business owners acquire income-generating assets. Their primary goal is to foster financial inclusion for individuals who typically lack the formal credit history required by commercial banks.
The company’s core product is asset financing, which allows riders to acquire brand-new motorcycles through a hire-purchase arrangement. Asaak utilizes a proprietary credit scoring system that analyzes non-traditional data, such as a rider’s activity on digital platforms (like ride-hailing apps) and their repayment behavior, to determine eligibility. This digital approach allows for rapid loan approvals, sometimes within a few hours, helping riders transition from renting a motorcycle to becoming owners, which significantly increases their daily take-home income.
As of early 2026, Asaak has expanded its services beyond motorcycles to include financing for smartphones, fuel, and repair services, creating a comprehensive ecosystem for the gig economy. The company has also established strategic partnerships with major fuel providers and motorcycle manufacturers to offer discounted rates to its clients. Under its current leadership, the firm has scaled its operations across Uganda and into neighbouring markets, positioning itself as a key driver of economic mobility and digital transformation for East Africa’s informal workforce.
- Motorcycle Financing: Providing flexible loan terms for riders to acquire motorcycles, which serve as their primary source of livelihood.
- Digital Credit Scoring: Using technology to assess the risk of borrowers who do not have formal bank accounts or traditional collateral.
- Smartphone Loans: Enabling operators to purchase high-quality smartphones, which are essential for accessing digital work and financial services.
- Value-Added Services: Offering financing for essential operational costs like fuel, insurance, and maintenance to keep businesses running smoothly.
- Financial Literacy: Conducting orientation and training for borrowers on debt management and the long-term benefits of asset ownership.
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Active Jobs From Asaak Financial Services
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3 Credit Officers
- @ Asaak Financial Services
- Kampala District
- Finance