Nigerians Get Funding From South Africa’s WesBank For New Cars

Written by Ann Brown

Oct 19, 2014

The National Automotive Council (NAC) of Nigeria recently signed a memorandum of Understanding (MoU) with WesBank of South Africa to offer finance to retail and corporate purchasers of vehicles in Nigeria, This Day reports

The MoU was signed in Johannesburg, South Africa, this week, by the Director General, National Automotive Council (NAC), Aminu Jalal, who headed NAC Management team comprising Luqman Mamudu (Director Policy and Planning) and Waheed Odetoro (Director Industrial Infrastructure). Chief Executive Officer of WesBank, Chris De Kork signed on behalf of his company in the presence of other WesBank management team.

Jalal said the Nigerian government recently approved the National Automotive Industry Development Plan (NAIDP) to attract investments from vehicle manufacturers globally and grow the supply of locally-manufactured vehicles.