Ecobank and Longtai Launch Interest-Free Financing for EVs in Rwanda

• Ecobank partners with Longtai to promote green mobility in Rwanda.
• The partnership offers up to 100% financing for electric vehicles.
• Customers benefit from an interest-free scheme if repaid within two years.
• Long repayment terms still provide multiple benefits from Ecobank.
• The initiative aims to support Rwanda’s green transport ambitions.

Ecobank and Longtai Partner for Green Mobility

Ecobank Rwanda Plc has unveiled an exciting collaboration with Longtai International Automobile Trading Co. Ltd, a prominent distributor of electric and hybrid vehicles in Rwanda. This strategic partnership is aimed at boosting green mobility within the region through a groundbreaking vehicle financing scheme. The agreement was officially signed on June 25, and it’s clear that Ecobank is stepping up to offer substantial financial support—up to 100 percent financing for customers acquiring Longtai’s electric or hybrid vehicles, along with repayment plans extending up to five years.

Interest-Free Financing Promotes EV Adoption

One of the standout features of this financing option is an exclusive discount on the cost of the vehicles. Remarkably, this discount corresponds to two years’ worth of interest payments, effectively rendering loans interest-free for those who are able to repay within that time. This incentive is a significant boon for early payers, facilitating the transition toward more eco-friendly transportation. However, for those who choose longer repayment terms, Ecobank offers various benefits, including reduced interest rates and dedicated support from a Relationship Manager. The application process is also designed to be efficient and quick, making it easier for clients to access these options.

Leaders Highlight Commitment to Sustainability

Olivier Mpenzi, who serves as the Head of Local Corporate at Ecobank Rwanda Plc, highlighted the bank’s commitment to sustainability: “We strive to make electric and hybrid vehicle ownership more accessible and cost-effective for our clients. This partnership with Longtai embodies that mission—offering attractive financing solutions that align with Rwanda’s green transport objectives.” Peter Zhao, the Managing Director at LongTai Auto, echoed this sentiment, expressing excitement over the collaboration. He noted that this initiative will enable more Rwandans to own brand new electric and hybrid vehicles, ultimately supporting the national green agenda and reducing emissions. Together, this partnership showcases the potential of private sectors working collaboratively to bolster Rwanda’s goals for a low-emissions economy and promote smart mobility solutions.

In summary, Ecobank Rwanda’s partnership with Longtai represents a significant step toward enhancing electric vehicle adoption in the country. The innovative interest-free financing scheme creates accessible opportunities for Rwandans while reinforcing the national agenda for sustainable transportation. This collaboration not only emphasizes the importance of green mobility but also highlights the potential of partnerships in achieving broader environmental goals.