Ecobank Rwanda Inks Vehicle Financing Deal With Cfao Motors Rwanda Ltd

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Kigali, 10 th February 2022 – Ecobank Rwanda, has signed a partnership agreement with CFAO Motors Rwanda Ltd, the sole distributor of Volkswagen products in Rwanda, to offer up to 100% Motor Vehicle Financing to customers seeking to buy cars.

Alice Kilonzo-Zulu, Managing Director, Ecobank Rwanda said: “Our new partnership with CFAO Motors Rwanda ltd will allow our customers and the general public to acquire new vehicles through affordable loans. We will provide 100% loan financing for new vehicles and 80% for used vehicles at discounted interest rates. Our customers will also have a
longer repayment period since loans for both used and new cars have been capped at five years.”

She noted that the Bank had deployed well trained Relationship Managers to walk the customers through the vehicle financing journey until they acquire vehicles of their choice. This complements Rwanda’s Made in Rwanda initiative which aims to promote the industrialisation of Rwanda and furthers Ecobank’s strategy of meeting the credit
needs of consumers in Rwanda and across Africa.

The partnership agreement enables new, existing CFAO and Ecobank customers to fully exploit the benefits outlined by visiting any Ecobank Rwanda Branch or CFAO Motors Rwanda Ltd Head Office. Srinivas Cheruvdu, Chief Operating Officer, CFAO Motors Rwanda, stated that: ‘’We are pleased to partner with Ecobank Rwanda to offer finance solutions that enable our customers acquire brand new Volkswagen vehicles with ease and at very affordable interest rates. This package includes 100% finance for the vehicle and insurance’’