United Bank for Africa (UBA) Plc has unveiled $100 million vehicle finance scheme in collaboration with CIG Motors, Lagride and Lagos State.
The initiative is designed to ease the financial burden of purchasing vehicles by offering affordable loan options with flexible repayment plans, enabling customers to acquire cars while spreading payments over an agreed period. UBA said the programme aligns with its commitment to supporting mobility, productivity and inclusive economic growth.
Under the scheme, eligible customers can finance new or pre-approved vehicles through structured payment plans tailored to their income and business cash flows. The programme is open to both salaried individuals and corporate clients, including small and medium-sized enterprises (SMEs), whose operations depend heavily on reliable transportation.
According to the bank, improved access to vehicle financing will enhance business efficiency, reduce logistics challenges and promote job creation, particularly in sectors such as transportation, logistics, trade and services.
By easing mobility constraints, UBA believes the initiative will help stimulate broader economic participation and growth.
The drive-to-own programme is part of UBA’s broader strategy to deliver innovative financial solutions that address real-life needs of its customers while supporting sustainable development across Africa and other regions where the bank operates.
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