First National Bank Ghana has teamed up with Solar Taxi to offer electric vehicle (EV) financing, allowing homeowners to leverage their property equity to purchase an EV.
Why it matters
The initiative aligns with Ghana’s push for sustainable transportation, expanding green mobility options beyond public transport and into private ownership.
What they’re saying
- “This partnership with Solar Taxi is a testament to our dedication to sustainability and innovation in the mortgage space,” said Kojo Addo-Kufuor, Executive Head of Home Loans Business at First National Bank Ghana. “We’re giving homeowners a unique opportunity to invest in cost-effective, environmentally friendly transportation.”
- “This is a game changer for sustainable mobility in Ghana,” said Loving Asibey Koranteng, Chief Investment Officer of Solar Taxi. “By making EVs more accessible, we’re helping homeowners cut carbon emissions and reduce transportation costs.”
How it works
- Homeowners can access up to 70% of their property’s value through First National Bank’s Equity Release Loan to finance an EV.
- The financing is denominated in USD, ensuring stability and competitive terms.
- Both customers and non-customers of the bank can apply, as long as they own a titled residential property.
The big picture
Ghana is ramping up its transition to green energy mobility, from electric buses in public transit to EV financing for private owners.
Source: Business and Financial Times
