Ghana is witnessing notable advancements in sustainable transportation, as demonstrated by recent deployment of electric buses within its public transport system, albeit not on a national scale.
A collaboration between First National Bank Ghana and Solar Taxi not only bolsters this move but also extends green mobility solutions to private homeowners.
The partnership offers electric vehicle (EV) financing, empowering homeowners to unlock the value of their property through equity release loans. This innovative financing option supports the nation’s ongoing transition toward green energy mobility.
By facilitating greater financial accessibility to electric vehicles, First National Bank Ghana reinforces its commitment to innovative financial solutions that promote environmental responsibility.
“At First National Bank Ghana, we are committed to providing financial solutions that create long-term value to our customers,” Kojo Addo-Kufuor, Executive Head of Home Loans Business at First Bank says. “This partnership with Solar Taxi is a testament to our dedication to sustainability and innovation in the mortgage space. By enabling homeowners to use their property’s equity to finance electric vehicles, we are giving them a unique opportunity to invest in cost-effective, environmentally friendly transportation.”
Eligible homeowners can access financing up to 70% of their property value to purchase a Solar Taxi electric vehicle. The mortgage is denominated in USD, ensuring financial stability and offering competitive financing terms. Applicants must be owners of a titled residential property, and the product is available to both First National Bank Ghana customers and non-customers. Additionally, homeowners financing through the bank’s Equity Release Loan can choose from a range of premium electric vehicles, including sedans, SUVs, and crossover models.
Loving Asibey Koranteng, Chief Investment Officer of Solar Taxi, also underscored the significance of the initiative, noting that it aligns with his company’s mission to expedite Ghana’s transition toward affordable and clean transportation.
He said, “Partnering with First National Bank Ghana allows us to make electric vehicles more accessible to homeowners who want to reduce carbon emissions while benefiting from lower transportation costs. This is a game changer for sustainable mobility in Ghana.”
