Ecobank Partners with Longtai to Promote Electric Vehicle Adoption in Rwanda

• Ecobank Rwanda collaborates with Longtai to boost EV adoption.
• The scheme offers up to 100% financing for electric vehicle purchases.
• Customers can enjoy an interest-free loan if repaid within two years.
• Flexible repayment terms are available for up to five years.
• The partnership supports Rwanda’s green transport initiatives.

Ecobank’s Partnership to Promote Green Mobility

Rwanda is witnessing a significant step towards sustainable transport as Ecobank Rwanda Plc has initiated a partnership with Longtai International Automobile Trading Co. Ltd. This partnership, announced on June 25, aims to bolster the adoption of electric and hybrid vehicles through an innovative vehicle financing scheme, which promises to be affordable and attractive for potential buyers. With Ecobank providing up to 100 percent financing, this approach aligns well with the nation’s goals to transition to greener mobility solutions that benefit both individuals and the environment.

Affordable Financing Options for Customers

Presented with unique features, the financing scheme includes a discount on the overall vehicle purchase price that matches the cost of 24 months of interest payments. Consequently, this effectively allows customers to buy vehicles interest-free if they repay within a two-year window. For those who prefer longer repayment options, Ecobank extends flexible terms of up to five years, while still offering various benefits such as reduced interest rates, dedicated Relationship Managers, and a seamless loan approval process.

Collaborative Efforts Enhance Electric Vehicle Ownership

Olivier Mpenzi, the Head of Local Corporate at Ecobank, highlighted the bank’s commitment to promoting sustainability in vehicle financing, stating, “Our goal is to make electric and hybrid vehicle ownership more accessible and affordable for our clients.” Alongside Mpenzi, Peter Zhao, Managing Director at Longtai Auto, expressed enthusiasm for the collaboration, indicating that this initiative aims to significantly lower the entry costs for Rwandans interested in electric mobility. As the partnership targets Rwanda’s green transport agenda, it aims to support nationwide efforts toward a low-emission economy and foster a cleaner environment for present and future generations.

The partnership between Ecobank Rwanda and Longtai International marks a progressive milestone in the promotion of electric mobility across Rwanda. By providing up to 100 percent financing, enticing discounts, and favorable repayment terms, the scheme aims to accelerate the adoption of environmentally friendly transportation solutions. With a shared goal of contributing to the nation’s green agenda, this collaboration symbolizes a significant advancement in making sustainable mobility accessible to the broader public.