Financial Institution, Access Bank Ghana Plc, says it is committed to tackle the issue of cost financing in addressing transportation demands and mobility needs in the country.

Ghana’s interest rate stands in excess of 35% despite the central bank’s recent reduction of the monetary policy rate to 29%. This high cost of interest to many remains a harbinger in the cost of doing business.

Speaking on the sidelines of an official partnership signing between the Bank, Mac Autos & Spare Parts Ltd and MG Ghana Limited, Group Head, Business Banking at Access Bank Ghana Plc Kafui Bimpe says the partnership is expected to offer Ghanalans a safer, swifter, and more economical mode of transportation.

“For Access Bank we have always promised beyond banking. Our objective is to reduce the challenges that are faced by this mobility sector and we are entering into this partnership because we believe we will be able to negotiate a good deal for customers”, he told the media.

“This collaboration transcends the realm of automobiles; it is about empowering individuals, fortifying families, and catalyzing the growth of the Ghanaian economy. We envision a future wherein the convenience of owning a vehicle is within grasp for a broader spectrum of Ghanaians, propelling progress and prosperity,” he added.

Kafui Bimpe also adds his outfit aims to address the issue of financial constraints by providing cheaper financing.

“We are going to give them competitive rates. We know that interests’ rates have moved to 40%, but we are hoping to give much lower interest rates. We will also get discount that customers may not able to on their own,” he concluded.

Country Head, Mac Autos is hopeful the partnership will help bridge the existing gaps in vehicle financing.

“A lot of people in this country want to buy a car, but due to unavailability of finance, they are not able to do so and this will open lot of lot of windows and lot of lot of opportunities for our Ghanaian friends and national to become the proud car owner,” he told journalists.

Source: Ghana/ Kojo