Allianz Insurance Ghana Ltd., a leading provider of insurance services, has announced a strategic partnership with Universal Motors and Access Bank to offer innovative vehicle financing solutions to customers in Ghana. The collaboration aims to revolutionize the auto industry by providing seamless access to financing and insurance services, empowering individuals, and businesses to fulfil their automotive aspirations.
Through the hard work of the German Desk team at Access Bank Ghana, this landmark partnership was formalized through a Memorandum of Understanding (MoU) signed between the three entities. The signing ceremony took place on June 26, 2023 at the Universal Motors showroom in North Industrial Area (NIA), and was witnessed by members of the diplomatic community (the Ambassadors of Germany, Turkey and Lebanon to Ghana), government representatives, and the media. The event marked a significant milestone in the efforts to promote inclusive vehicle ownership and ensure financial inclusiveness for Ghanaians.
It is worth noting that the vehicles are proudly assembled in Ghana by Volkswagen (VW).
The agreement combines the expertise of Allianz Insurance Ghana Ltd., Universal Motors, and Access Bank to offer an unrivalled vehicle financing experience. Customers will benefit from a streamlined process that integrates financing options with insurance coverage, reducing paperwork and saving valuable time.
By leveraging the strengths of each partner, this collaboration aims to address the challenges faced by individuals and businesses when seeking vehicle financing. Allianz Insurance Ghana Ltd. brings its extensive experience in insurance, providing comprehensive coverage tailored to the needs of vehicle owners.
Universal Motors, a renowned automotive company, offers a wide range of high-quality vehicles, ensuring customers have access to top-notch options.
Access Bank, a leading financial institution, contributes its deep understanding of lending practices and financial solutions to facilitate easy access to vehicle financing.
Speaking at the signing ceremony, Mr. Ababacar Diaw, CEO of Allianz Insurance Ghana Ltd., expressed his enthusiasm for the partnership. He stated, "We are delighted to join hands with Universal Motors and Access Bank to offer a game-changing solution in the auto industry. This collaboration will redefine the vehicle financing landscape, making it more inclusive and convenient for Ghanaians to realize their dreams of owning a vehicle. We are committed to providing comprehensive insurance coverage that protects our customers' valuable assets, ensuring peace of mind on the road."
Mr. Mr Subhi Accad, CEO of Universal Motors, shared his thoughts on the partnership, saying, "This collaboration represents a major step forward in our mission to provide reliable and affordable vehicles to Ghanaians. Universal Motors is excited to partner with Allianz Insurance Ghana Ltd. and Access Bank to offer a complete package of financing and insurance services. We believe this strategic alliance will empower individuals and businesses to overcome financial barriers and experience the joy of owning a vehicle."
Mr. Olumide Olatunji, MD of Access Bank Ghana, emphasized the importance of financial inclusiveness and stated, "As a customer-centric bank, Access Bank is committed to providing innovative financial solutions that meet the needs of our customers. This partnership with Allianz Insurance Ghana Ltd. and Universal Motors enables us to offer a seamless vehicle financing experience, ensuring that Ghanaians can access their desired vehicles without financial constraints. Together, we will drive economic growth and empower individuals and businesses across the country."
The collaboration between Allianz Insurance Ghana Ltd., Universal Motors, and Access Bank signifies a groundbreaking initiative that combines the strengths of leading players in the insurance, automotive, and financial sectors. By offering an integrated vehicle financing solution, the partners aim to transform the auto industry landscape in Ghana and drive sustainable growth.