First National Bank partners Solar Taxi to Promote Electric Vehicle Ownership Through Equity Release Loans
First National Bank Ghana has partnered with Solar Taxi to offer electric vehicle (EV) financing.
This initiative allows homeowners to unlock the value of their property through the bank’s equity release loans to finance the purchase of an electric vehicle, contributing to Ghana’s transition towards green energy mobility.
Ghana is making significant strides in sustainable transportation, as seen in the recent introduction of electric buses into the country’s public transport system.
This partnership between First National Bank Ghana and Solar Taxi aligns with the nation’s broader sustainability agenda, extending green mobility solutions to private homeowners.
By helping make electric vehicles more financially accessible, First National Bank Ghana is reinforcing its commitment to innovative financial solutions that support 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.”
The Chief Investment Officer of Solar Taxi, Loving Asibey Koranteng, also emphasized the significance of this collaboration, pointing out that his company’s mission is to accelerate 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.”
Through this partnership, eligible homeowners can access up to 70% of their property value to finance the purchase of an electric vehicle from Solar Taxi. The mortgage is denominated in USD ensuring financial stability and competitive financing terms.
The applicant must be a homeowner with a titled residential property to be eligible. Both First National Bank Ghana customers and non-customers can apply.
Homeowners financing through First National Bank’s Equity Release Loan can select from a range of premium electric vehicles offered by Solar Taxi, including sedans, SUVs and crossover models.
