Ayo Olabisi and Nana Esi Idun-Arkhurst exchanging the signed agreement
Automotive technology company Autochek, has partnered with Fidelity Bank, to make car ownership easier through more financing options for consumers and businesses.
The partnership will make it easier for consumers and businesses across Ghana to leverage Fidelity Bank’s range of financing options to purchase the desired vehicles via the Autochek platform.
Ghana is one of the fastest growing automobile markets in Africa, projected to reach $11 billion in value by 2026, with a strong market for used cars and growing market for new cars.
However, a fragmented marketplace means stakeholders are often working in silos which lead to various inefficiencies across the value chain.
With the Autochek platform customers can identify a vehicle that is available for financing and simply fill a short form to apply for the auto loan.
Should they meet the required criteria, they will begin to receive offers from financial institutions such as Fidelity Bank in Ghana and once an offer has been accepted they are able to receive their vehicle within three to five days.
According to Ayo Olabisi, Country Manager at Autochek, “Our mission is to deepen the penetration of auto financing across Africa, and Ghana represents a significant market on that mission,” he said.
Mr Olabisi further noted that Fidelity Bank has an established reputation for delivering great products and services and “we are looking forward to working more closely with them to connect more Ghanaians to auto financing that works for them and other stakeholders in the automotive industry”.
Divisional Director, Retail Banking at Fidelity Bank Nana Esi Idun-Arkhurst, said “This partnership with Autocheck is to support individuals and businesses to purchase their dream cars at competitive rates and without stress.”
She said the bank has an exciting range of financing options that customers can take advantage of and, “we are confident that with Autochek’s technology, we will achieve significant impact across Ghana’s automotive value chain”.
“This collaboration emphasizes our commitment to partner with relevant stakeholders to roll out products and services that align to the needs of our numerous customers and non-customers alike”, Madam Idun-Arkhurst added.
By Jamila Akweley Okertchiri