Stanbic Bank has signed partnership with Tata Group to provide opportunities for both individual and commercial customers of the bank to purchase vehicles on credit, as a way of addressing the critical needs of vehicles in the country.
Chief Executive of Stanbic bank, Kwamina K. Asomaning stated that the partnership creates avenue for persons and companies that are in a high need of vehicles to run their businesses.
“This partnership is focused on addressing that critical need that exist for companies and individuals. It is our expectation that we will make it easier for individuals and commercial entities to own cars. So, through this initiative, we will stimulate the demand for vehicles and address the need for consumers,” he said.
According to him, this also forms part of plans to drive the country’s growth as it has always been the bank’s purpose, adding that logistics are in high need, therefore making efforts to tackle it through this partnership.
Mr. Asomaning said, the partnership will be reviewed every year to identify the impact it has made. He said the bank will provide financing whilst Tata Group deals with the vehicle provision.
The brand Tata according to Mr. Asomaning, became the right partners due to the long-lasting record they hold in vehicle production and also their successful history they hold in the country.
Tata has proven to be the brand that understand the needs of Ghanaian consumer and business and they have done well to adapt to the meet the demands of the local consumers. Many of their old buses still ply our roads and so we would like to partner with such a company,” he explained.
Country Head – Tata and Daewoo, Karun Sarbarwal indicated that Tata is a brand that has contributed immensely to both companies and individuals – indicating that the Group has provided buses, tracks and other type of vehicles to the transport system in the country.
He said due to the durable vehicles the brand provides, it is able to meet the customer’s demand, adding that “we are the only ones that provide 4 and 5 years warranty to our vehicles so that enhances customer’s confidence.”
