Automakers

VW, Nissan chase African new-car market where financing is rare

Most people in Ghana buy used vehicles, as loans can have interest rates as high as 30 percent.
YI
By:
Yinka Ibukun
B
By:
Bloomberg
|
January 13, 2020 01:56 PM

ACCRA, Ghana -- Volkswagen Group and Nissan are among automakers planning new plants in Ghana to target West Africa's largely untapped market of 382 million people. But they face the challenge of finding banks that will offer loans to make buying new cars affordable to the population.

Staying current is easy with newsletters delivered straight to your inbox.