Double Q Company Limited has announced a strategic partnership with DFCU Bank and ICEA LION General Insurance to make brand-new commercial vehicles more accessible to businesses, fleet owners, entrepreneurs, and transport operators across Uganda.
The partnership brings together Double Q’s broad portfolio of automotive solutions, including heavy commercial trucks, passenger vehicles, road construction equipment, and mining equipment, with DFCU Bank’s customer-focused asset financing solutions and ICEA LION General Insurance’s comprehensive motor insurance products. Together, they deliver an integrated mobility solution that combines vehicle supply, flexible financing, and insurance protection.
Under the partnership, DFCU Bank will provide financing of between 80% and 100% of the value of eligible commercial vehicles and equipment, significantly reducing the upfront capital required by businesses to invest in modern fleets while preserving working capital for growth.
ICEA LION General Insurance, on the other hand, completes the offering by providing comprehensive motor insurance solutions that protect customers against risks such as accidents, theft, fire and third-party liability, giving businesses confidence throughout their ownership journey.
“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,” said Kate Kiiza, Executive Director and Chief Corporate and Institutional Banking Officer at DFCU Bank, while emphasizing that the bank believes access to finance should unlock opportunities for businesses to grow and compete effectively.
Kiiza further said, “Through our asset financing solutions, eligible customers can finance up to 100% of the purchase price of commercial vehicles and equipment, allowing them to preserve working capital while investing in productive assets.”
According to industry assessments, Uganda’s automotive market remains heavily dependent on imported used vehicles, with an estimated 85% of vehicles entering the country being second-hand and only 15% being new.
Although affordability has traditionally driven this trend, the commercial vehicle segment is steadily shifting towards new purchases as businesses increasingly recognise the long-term value of improved fuel efficiency, lower maintenance costs, higher reliability and greater productivity.
Through this partnership, Double Q, DFCU Bank and ICEA LION General Insurance aim to accelerate this transition by making new commercial vehicles more affordable and accessible to Ugandan businesses.
Richard Musani, Head of Marketing at Double Q Company Limited, said, “We understand that access to affordable financing has been one of the biggest barriers preventing many businesses from investing in new commercial vehicles. By partnering with DFCU Bank and ICEA LION General Insurance, we are removing that barrier and providing customers with an end-to-end solution that combines world-class vehicles, flexible financing and comprehensive insurance protection.” Adding, “This partnership empowers businesses to invest in productivity today while positioning themselves for long-term growth.”
Lin Yu, Managing Director of Double Q Company Limited, noted that investing in new commercial vehicles should be viewed as a strategic business decision rather than simply a purchase.
“Modern commercial vehicles deliver measurable business value through improved fuel efficiency, enhanced safety, greater reliability and lower operating costs,” he said. “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.”
With the company’s partnership with DFCU Bank and ICEA LION General Insurance, Lin Yu said they will make these benefits more accessible to businesses across Uganda.
Beyond the economic advantages, the partnership also supports Uganda’s environmental sustainability agenda by encouraging the adoption of cleaner and more fuel-efficient vehicle technologies. New-generation commercial vehicles produce significantly lower emissions than ageing imported fleets, contributing to improved air quality and greener transport solutions.
The partnership is expected to benefit businesses across logistics, construction, agriculture, manufacturing, mining, distribution and public transportation. Customers will also enjoy Double Q’s comprehensive after-sales support, including professional servicing, genuine spare parts, technical support and manufacturer-backed warranties.
Musani also highlighted Double Q’s response to recent increases in fuel prices and the growing need for alternative mobility options. He noted that Double Q has ventured into a robust introduction of electric vehicle (EV) mobility solutions across its portfolio, covering XCMG earth-moving equipment, Sinotruk light and heavy commercial trucks, GWM passenger vehicles and Heli material handling solutions. Customers across these brand product lines now have opportunities to purchase EV products.
Also read:Â Double Q unveils Heli electric forklifts as Uganda goes green
“The Tank 500, Haval H6, HOWO NX Tractor Truck, XCMG Wheel Loader, and the Heli 5-tonne Forklift are all available in EV,” noted Musani. “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.”
Highlighting the importance of protecting business investments, Ambrose Kibuuka, Chief Executive Officer of ICEA LION General Insurance, said insurance is an essential component of sustainable fleet management.
“Every commercial vehicle represents a significant investment, and protecting that investment is critical to business continuity,” he said. “Through this partnership, ICEA LION General Insurance will provide comprehensive motor insurance solutions that give businesses peace of mind while safeguarding their assets against unforeseen risks.” Concluding that, “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.”
As Uganda’s demand for efficient transport solutions continues to grow, the three organisations believe easier access to financing and comprehensive insurance will play a critical role in modernising commercial fleets, improving business productivity and accelerating economic development.
The partnership reflects the shared commitment of Double Q, DFCU Bank, and ICEA LION General Insurance to support entrepreneurship, stimulate business growth, create employment opportunities and promote sustainable transport solutions that benefit businesses, communities and the environment.
Interested customers are encouraged to visit any Double Q showroom or DFCU Bank branch nationwide to learn more about available vehicle models and financing options.
Also read:Â Double Q launches Heli electric forklifts and opens new showroom
