Mahama urges banks to offer long-term financing for locally assembled cars
President John Dramani Mahama has urged banks and other financial institutions to develop long-term vehicle financing schemes to enable more salaried Ghanaians to purchase locally assembled cars.
President John Dramani Mahama has called on banks and financial institutions to create long-term vehicle financing schemes, enabling more salaried Ghanaians to buy locally manufactured cars. Mahama emphasized the need for financing arrangements to make these vehicles affordable for workers who might otherwise find it difficult to pay for them upfront.
He made this statement on the commissioning of the third phase of the Zonda Tec Ghana Assembly Plant on Tuesday, September 15. Mahama noted that doctors, teachers, nurses, and various private-sector employees could benefit from suitable financing options that allow them to repay the cost of vehicles over time through monthly installments.
The government is willing to collaborate with banks, manufacturers, and other private sector stakeholders to develop hire-purchase and other credit facilities for employed Ghanaians to pay for vehicles using their monthly salaries.
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