BOG urged to reduce interest rates to make new cars affordable

Chief Operations Officer of Rana motors, an automobile marketing company Kassem Odaymat is urging the Bank of Ghana to further cut down interest rates to enhance the affordability of new vehicles by the public.

The automobile sector continues to be a major driver of economic growth serving as a significant foreign exchange earner.




Unfortunately, many people are not in the position to acquire brand new cars as a result of increased cost.

Mr Odaymat said “… talking with banks and even talking to Bank of Ghana if we can take the rates and the interest rates down so that we can make it more affordable for each and every Ghanaian to be able to buy a car.

Honestly speaking, a lot of second-hand cars are coming into the country, it is causing more pollution and at the same time, they are not safe and they are not made for our country in terms of even equipment and options,” he said.

Mr Odaymat raised this concern on the sidelines of the launch of Ford Truck 3543T in Accra.

Ghana is the first to launch the Ford Truck 6×4 tractor head (3543T) which is the latest from Ford Trucks, made specifically to meet the demand of the Ghanaian market.

Source: Myjoyonline.com