Mahama Proposes Salary-Based Payment Plan for Locally Assembled Vehicles

• President John Mahama says the government is ready to support a long-term vehicle financing arrangement for Ghanaian workers
• The proposed system would allow workers to purchase locally assembled vehicles and pay gradually through their salaries
• He made the statement during the commissioning of the third phase of the Zonda Tec Ghana assembly plant

President John Dramani Mahama has outlined plans to make locally assembled vehicles more accessible to Ghanaian workers through a salary-based payment system.

The President said the government was prepared to collaborate with vehicle manufacturers, financial institutions and private-sector organisations to develop a long-term financing arrangement.

Under the proposed system, qualified workers could purchase locally assembled vehicles and pay for them gradually through deductions from their monthly salaries.

Making vehicles more affordable

President Mahama explained that promoting local vehicle assembly alone would not be enough if ordinary workers could not afford the finished products.

He noted that suitable financial arrangements were needed to bridge the gap between vehicle production and affordability.

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The initiative could reduce the pressure on workers who may be unable to pay the full cost of a vehicle at once. Instead, they would have an opportunity to spread payments over an agreed period.

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However, details concerning the interest rates, repayment period, eligibility requirements and participating banks have yet to be announced.

Mahama commissions Zonda plant

The President made the statement while commissioning the third phase of the Zonda Tec Ghana assembly plant.

The expansion of the facility represents another step in Ghana’s efforts to strengthen local vehicle assembly and create more opportunities within the automobile industry.

A salary-based financing scheme could also encourage more people to consider locally assembled vehicles instead of relying mainly on imported cars.

If successfully implemented, the arrangement may provide a convenient path to vehicle ownership for salaried workers while supporting local manufacturers.

The government is expected to engage banks, manufacturers and other stakeholders before providing further information about how the proposed financing programme will operate.

Zonda Tec Aboboyaa features highlighted

Previously, YEN.com.gh reported that Zonda Tec’s 200cc Aboboyaa is among the cargo tricycles assembled in Ghana, offering business owners another option for transporting goods.

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The cargo tricycle features a large loading bucket, a protective canopy and a strong body suitable for farming, trading and construction work.

YEN.com.gh highlighted the major features of the Zonda Aboboyaa and provided an estimated price based on current market rates for similar 200cc tricycles.

Source: YEN.com.gh