Locally assembled vehicles will remain out of reach for salaried workers unless financial institutions introduce extended payment plans, according to President John Dramani Mahama. Speaking on Tuesday, September 15, at the launch of the Zonda Tech Ghana Assembly Plant’s third phase, he stressed that expanding domestic automotive plants must be paired with accessible credit arrangements.
President Mahama highlighted that public and private sector employees—such as teachers, doctors, and nurses—could easily afford new, home-assembled cars if given flexible purchase terms.
“It’s good to have these assembly plants producing cars locally, but we must create the instruments for Ghanaians to be able to purchase these cars. And this is where the banking sector comes in,” he said.
He urged commercial banks to design long-term hire-purchase options, allowing employees to settle vehicle costs through manageable monthly payroll deductions.
“Government is ready to collaborate with the private sector, we’re ready to collaborate with the manufacturers, we’re ready to sit down with the banks and come out with financing instruments that allow people who are employed and engaged and receive an income to be able to take a car of their choice and pay monthly over a certain period until they have defrayed the cost of the vehicle,” President Mahama said.
By: Rainbowradioonline.com/Ghana
