Heritage Bank Plc has entered into a strategic partnership with the Choice International Group (CIG) Motors Limited to introduce a new vehicle finance scheme aimed at assisting interested and pre-qualified customers to buy brand new GAC Vehicles with ease and at affordable prices.
The initiative tagged: “Go CAR-razy,” was facilitated by the sole representative of GAC Motors in Nigeria known as CIG, which enables individuals who meet the prescribed conditions to pay an equity contribution of 10% with 48 months tenor repayment.
The scheme is largely for three models of cars and sport utility vehicles in the stable of GAC Motors: GS3, GS4 and GS8.
Speaking on the signing of a Memorandum of Understanding, MD/CEO of Heritage Bank, Mr. Ifie Sekibo said the auto finance scheme was tailored to suit customers’ needs with manageable monthly repayments and is best suited for individuals, organizations, corporate bodies and institutions to avail a convenient and easy access to finance options making it easier to buy and drive away a brand new GAC Motors.
According to him, the partnership was planned to encourage customers to buy environmentally-friendly GAC vehicles instead of used cars otherwise known as “tokunbo.”
Sekibo specifically explained that the reason for the alliance was to afford deserving customers with the ease of convenient and discounted opportunities with just 10% equity contribution, as against the 30% standard equity contribution required to own brand new GAC vehicles.
He listed other benefits of the vehicle finance scheme, which involve competitive interest rate, discounted vehicle pricing, subsidized insurance premium, free vehicle registration.
The Chairman of CIG, Chief Diana Chan, stressed that the automobile firm entered into partnership with the Heritage Bank because of its track record in quality service.
According to her, “We are proud to partner with Heritage Bank on this Finance Scheme as we believe it gives Nigerians who are yarning for quality the opportunity to own the latest GAC vehicles with a soft payment plan.
She said through independent innovation and excellent quality, GAC Motor has been widely recognized by many as a brand that offers great value at affordable prices to Nigerians.
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Heirs Holdings Signs $600 million Loans With Afrexim Bank, To Scale Its Energy Investments
As a further demonstration of the African Export-Import Bank’s (“Afrexim”) mandate to facilitate the growth of intra-Africa trade and support the development of African businesses, Afrexim today, signed financing facilities totalling US$600 million with the Heirs Holdings Group, a pan-African proprietary investment holding company.
Heirs Holdings has significant investments across Africa, in the financial services, resources, real estate and hospitality and power sectors. The facilities will further support the Group’s power, oil and gas strategy, as it positions itself as an African leader in integrated natural resources. The signing ceremony took place at the Afrexim Intra-Africa Trade Conference taking place in Cairo, Egypt.
The proceeds of the facilities will assist the Heirs Holdings Group vision of creating a dynamic resource based division, focused on ensuring value creation occurs on the African continent and that value chains are developed, that directly benefit the broader African economy and consumer.
Commenting at the ceremony, Dr. Benedict Oramah, President of Afrexim who signed on behalf of the Bank, stated that the investment by Heirs Holdings would play a key role in addressing some of the fundamental challenges that have affected the power and energy sectors in Africa. He stated that “A world class energy sector is fundamental to the sustainable growth of businesses in Africa. If we do not deal with these basic matters, growth of trade and exports will always be limited”.
Mr. Tony Elumelu, the Chairman of Heirs Holdings, commented that “We are delighted to be partnering with Afrexim. The Bank continues to play a critical role in the economic and social development of the continent. Together, we illustrate that Africa can create world class institutions, which are capable of successfully making the long-term investments necessary for Africa’s economic transformation and catalyse the enabling environment that will unleash Africa’s potential”.
UBA Academy Gets CIBN Accreditation for Excellence in Training, Capacity Building
In recognition of its high standard, quality of human resources development, training and capacity building, The Chartered Institute of Bankers of Nigeria(CIBN) has certified and awarded UBA Academy the certificate of accreditation in line with the Central Bank of Nigeria’s Competency Framework for the banking industry .
UBA Academy, the dedicated learning and development centre of the Pan African financial institution, United Bank for Africa (UBA) Plc, was accorded the new recognition of excellence at a ceremony presided over by the President/Chairman of Council of the institute, Dr. Uche Olowu in Lagos on Thursday.
According to the president of the institute, UBA Academy was conferred with the new status having met the rigorous standards set for the delivery of their suites of programmes by the Institute.
The certification follows rigorous assessment exercise carried out by the institute’s Capacity Building Committee, the accreditation agency under the competency framework for the country’s banking and finance industry instituted by the Central Bank of Nigeria.
“This Accreditation is an affirmation that UBA Academy has adopted and complied with the minimum assessment standards for programmes run by the organisation, which have gained a label of recognition and distinction,” Olowu said.
According to him the accreditation of UBA Academy would enable its graduates to be eligible for exemptions from various subjects in the banking professional examinations thereby facilitating their completion of the Chartered Banker examination. “This will not only enable them comply with the provisions of the Competency Framework for the banking industry, it will go a long way in the strengthening of the intellectual resources and capabilities available in their institutions,” he concluded.
Speaking at the ceremony, the Bank’s Group Head Human Resources, Mrs Patricia Aderibigbe, while appreciating the recognition conferred on the UBA Academy, said the academy has already embarked on training for the future with digitisation of its training programmes and modules.
“With Ignite, UBA has taken training into the future as we believe that the only way to get the best results and continually stay ahead of the curve is to continually sharpen our most important asset – our people, using mobile technology,” Aderibigbe said.
Aderibigbe promised that UBA Academy will continuously seek improvement in ensuring that it serves the needs of industry in a changing banking industry.