Kason Motors Chief Executive Officer Daniel Wang Bing and Sam Gatari, Head of Retail Banking and Branch Network at NCBA Bank Rwanda inspect a new vehicle on display.
KIGALI – Rwandans whose dream to own a car has often remained out of reach for failure of raising the upfront purchase price have a reason to celebrate because that barrier may now be starting to disappear for those looking to switch to electric mobility.
Through a partnership between NCBA Bank Rwanda and electric vehicle dealer Kason Motors, customers can be helped to finance up to 100 percent of the cost of an electric vehicle, making clean transportation more accessible to individuals, families and businesses.
The initiative is timely in line with Rwanda’s relentless efforts to accelerate transition to electric mobility by enabling more people to own vehicles that cost less to operate and produce no tailpipe emissions.
Speaking during the signing ceremony in Kigali on Friday, Sam Gatari, Head of Retail Banking and Branch Network at NCBA Bank Rwanda, said the partnership reflects a commitment to helping customers turn their aspirations into reality through innovative financial solutions.
Kason Motors Chief Executive Officer Daniel Wang Bing and Sam Gatari, Head of Retail Banking and Branch Network at NCBA Bank Rwanda signing the Partnership agreement.
“Buying a vehicle is more than purchasing a mode of transport. For many, it is about achieving independence, growing a business, creating opportunities and reaching new destinations. This is what we aim to help them achieve,” Gatari said.
He noted that NCBA does its “banking on belief.” “We believe in the ambitions of our customers, and our role is to provide the financial solutions that help turn those ambitions into reality.”
Gatari explained that the partnership combines Kason Motors’ range of electric vehicles with NCBA’s flexible financing solutions to simplify the customer journey from vehicle selection to ownership.
Beyond simply providing another vehicle financing product, the partnership is poised to play a significant role in supporting Rwanda’s broader environmental agenda.
New fleet on display at the office of electric vehicle dealer Kason Motors.
The government has been encouraging adoption of electric vehicles through incentives aimed at reducing greenhouse gas emissions, improving urban air quality and lowering the country’s dependence on imported fuel.
Industry players say affordability remains one of the biggest obstacles to widespread adoption of electric vehicles.
By removing the need for an upfront payment, the NCBA-Kason partnership has the potential to bring electric mobility within reach of more middle-income households, entrepreneurs and businesses while accelerating the country’s transition to cleaner transportation.
The agreement represents growing confidence that the future of mobility in Rwanda will depend not only on cleaner technology, but also on innovative financial solutions that make that technology accessible to more people.
Kason Motors Chief Executive Officer Daniel Wang Bing addressing guests.
On his part, Kason Motors Chief Executive Officer Daniel Wang Bing, described the agreement as more than a business partnership, saying it reflects a shared commitment to Rwanda’s vision of sustainable development.
“We have deep love and great respect for Rwanda. This beautiful and promising country keeps moving forward with clear plans for a cleaner, better living environment for all its people, and we are truly proud to take part in this meaningful journey alongside Rwandans,” Wang said.
He said the company’s goal is to make electric vehicles affordable to a wider segment of the population.
“Electric cars produce less pollution, cut people’s daily travel costs and make Rwanda’s air and living surroundings much better. This matches Rwanda’s dream of a green homeland that we all love,” he said.
Wang said the financing arrangement will allow ordinary families, small businesses and local organizations that may have struggled to raise the initial purchase price to acquire electric vehicles through affordable loans.
Photos by Melissa Isimbi
