Stanbic Bank Ghana and TATA Africa Holdings Limited have entered into a partnership to make the acquisition of vehicles easy and convenient for potential car owners and businesses.
The partnership was announced at a short ceremony on Tuesday, February 15 at the Stanbic Incubator Hub, Airport City in Accra.
Speaking at the ceremony, Chief Executive at Stanbic Bank Kwamina Asomaning said the partnership is in line with the Bank’s promise of helping find ways of making dreams possible.
He noted that “Ghana is our home; and driving her growth is our guiding principle. Stanbic Bank has been driving this growth over the past 23 years anchored around financial solutions to individuals and businesses as well as investments in critical sectors such as commerce, energy, power, agribusiness, transportation, mining and telecoms, and infrastructure. Our gathering this afternoon is to affirm a partnership that will make the life of the business community less stressful. As a bank, we believe that dreams matter and we are here to help find new ways to make these dreams possible.”
“This collaboration with TATA is the latest among many partnerships that we hope would create mutually beneficially relationships for our clients, partners, and ourselves. We want to support businesses to meet their fleet requirements through their flexible terms and seamless processes that this partnership brings on board. Businesspeople and all clients for that matter, should be enabled to focus on growing their businesses and for the individuals to own their dream vehicles.
“Our clients will therefore have a chance to obtain their vehicles together with an insurance package already bundled as one offer by this arrangement,” he added.
Under the agreement, customers will be able to acquire Tata, Daewoo, Jaguar and Land Rover units through Stanbic Bank offering up to 90% financing up to a five-year repayment period and having the flexibility of paying for insurance in instalment for a period of one year making it easier for clients to pay, especially when the vehicle/truck has not yet started generating income.
This partnership targets individuals, Small Medium Size companies and large commercial businesses for easy and attractive loan up to 90%-100% of the asset cost.