Innovation in Motion: Volkswagen and NCBA join efforts to redefine automotive finance in Rwanda

Volkswagen Rwanda and NCBA Rwanda have unveiled a partnership that will facilitate vehicle ownership in Rwanda.

"Today, we embark on a journey to enable individuals and businesses to access reliable and sustainable transportation by offering cars acquired through affordable monthly payments," Volkswagen Move CEO, Serge Kamuhinda, announced.

"We intend to provide both CFAO Motors and NCBA clients the option of more affordable finance to access a wide range of vehicles from CFAO Motors Rwanda Limited. Srinivas Cheruvu, Chief Operating Officer CFAO Motors Rwanda said, the purpose of partnership is to provide convenient financing solutions to mutual clients through the relationship with NCBA.”

NCBA, the region's leader in asset finance, sees this collaboration as a culmination of the bank's 60-year legacy in providing meaningful finance that is quickly accessible (48 hours) and empowers ordinary people and businesses to acquire assets and build wealth.

"We believe in creating avenues that open doors to new possibilities for our customers", Lina Higiro, the NCBA Rwanda CEO, commented.

Volkswagen aims to shape mobility in Rwanda for generation to come by providing a fleet of new and used vehicles tailored to the diverse needs of Rwandans.

From eco-friendly urban commute vehicles to robust utility vehicles and luxury SUVs, the collaboration aims to offer a range of options for every customer at the most reasonable monthly payments.

The partnership also aims to galvanize both entities' commitment to Environmental, Social, and Governance (ESG) practices. During the event, Volkswagen shared plans to introduce more Electronic Vehicles (EVs) in the Rwandan market in the coming year (2024) while NCBA’s Lina Higiro also announced plans to install Electric Vehicle (EV) charging stations at all NCBA Rwanda branches.

"As a collective, our shared vision is a greener and more prosperous Rwanda, and we intend to take the lead both in financing and acting as a catalyst for green transportation across the value-chain" she concluded.