Akagera Business Group (ABG) and Ecobank have signed a partnership aimed at facilitating Rwandans who wish to own their dream cars with affordable financing services.
The partnership, which was signed at the Akagera Motors vehicle showroom, on June 6th, 2023, will see customers acquire up to 100% financing from Ecobank to buy any brand-new vehicle model from Akagera Motors.
Customers who qualify for the financing will benefit from vehicle financing, a discounted interest rate of 14% per annum for up to five years, a streamlined process, and dedicated relationship managers, among other benefits such as three years or 100,000 km warranty cover, first free service, one-year comprehensive insurance cover, and a full tank of fuel on delivery.
The only condition for this financing is to have one’s salary routed through Ecobank as collateral.
Speaking during the signing ceremony, Olivier Mpenzi, Head of Consumer Segments at Ecobank Rwanda, stated that the deal will give more Rwandans access to financing for their dream cars.
"At Ecobank, we understand that purchasing a car can be a significant financial burden, and that is why we are committed to enabling our customers to achieve their dreams through affordable financing, especially for those who may not have the immediate funds to make a full cash payment, by breaking down the cost into manageable installments, customers can comfortably budget and afford their desired vehicle. . This partnership with ABG and Akagera Motors is part of the bank’s drive to support the growth and development of its customers in Rwanda and across Africa,” he said.
Alexis Habimana, Sales Manager at Akagera Motors, also stated that this is intended to help customers who are hesitant to approach them due to financial limitations.
"Our goal is to make it easier for our customers to purchase their dream vehicles without financial constraints. However, because we are not in the financing business, Ecobank is a good partner to count on,” he said.
Akagera Business Group, the parent company of Akagera Motors, diversifies into nine different divisions dealing in automobiles, tires, batteries, lubricants, media, consumer goods, consumer electronics, car rentals, hardware, paints, design, construction, security, and safety systems. Akagera Motors is the exclusive distributor for top brands such as Mercedes-Benz, Nissan, Kia, Fuso, MCV, Foton, and Mahindra in Rwanda.
Ecobank Rwanda Plc is an affiliate of the Ecobank Group, the leading private pan-African banking group. At Ecobank Rwanda, we offer a comprehensive suite of financial services and solutions to our Consumer, Commercial, Corporate, and Investment Banking clients at 7 branches, 22 ATMs, and 857 Xpress Point agencies.
The Ecobank Group was established in 1985 to drive financial integration and socio-economic development in Africa. With a presence in 35 sub-Saharan African countries as well as in France, the UK, UAE, and China, we have unrivalled expertise and experience across Africa. Our pan-African platform provides a single gateway for payments, cash management, trade, and investment across Africa and beyond.
For further information on Ecobank Rwanda Plc please visit www.ecobank.com/rwanda or follow us on LinkedIn, Twitter, Facebook, and Instagram.