ADVERTISEMENT
TechEconomy
Tuesday, June 3, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » VFD and Autochek Partner to Enable more Affordable Car Financing in Nigeria

VFD and Autochek Partner to Enable more Affordable Car Financing in Nigeria

Peter Oluka by Peter Oluka
September 6, 2023
in Fintech
0
VBank and Autochek partnership
L-R: Gbenga Omolokun, MD, VFD Microfinance Bank (V Bank); Winifred Allison, Executive Director, Product and Marketing, VFD MFB; Mayokun Fadeyibi, Chief Operations Officer, and Philip Ayere, Senior Credit Manager, both of Autocheck Marketplace, at the press conference to announce the partnership between V Bank and Autocheck, in Lagos, yesterday.

L-R: Gbenga Omolokun, MD, VFD Microfinance Bank (V Bank); Winifred Allison, Executive Director, Product and Marketing, VFD MFB; Mayokun Fadeyibi, Chief Operations Officer, and Philip Ayere, Senior Credit Manager, both of Autocheck Marketplace, at the press conference to announce the partnership between V Bank and Autocheck, in Lagos, yesterday.

RelatedPosts

Unity Bank | AfriGO

Unity Bank, AfriGo Explore Collaboration to Deepen Access to Electronic Payments

June 2, 2025

PalmPay Unveils ‘Passing the Baton’ CSR Initiative

May 29, 2025

VFD Microfinance Bank, manager of V Bank, Nigeria’s leading digital banking platform, and Autochek, the automotive technology company making car ownership more accessible and affordable across Africa, have joined forces to make it easier for businesses and consumers in Nigeria to access affordable financing for the vehicles they desire.

Cars are central to how Nigerians live and work. However, recent economic headwinds have pushed many businesses and individuals to prioritise affordability when considering the cars they would like to purchase.

From the ongoing situation with access to foreign exchange and inflation to subsidy removal and other headwinds, these developments have impacted the cost of owning and maintaining vehicles in Nigeria and more Nigerians are exploring new ways to manage the situation more efficiently.

Financing presents a viable option for making car ownership more accessible and affordable, for alleviating various transportation challenges and impacting the whole value chain including dealers, workshops, SMEs, and ultimately the consumer.

V Bank is committed to helping its customers achieve their desires and create wealth, and it is on a mission to become the number one provider of microfinance solutions for businesses and individuals in Nigeria.

With this partnership, businesses and individuals will now be able to access the bank’s market-leading financing options when they apply for financing for their chosen vehicles.

They simply need to find the vehicles they want to purchase on Autochek’s online marketplace or via a dealer in the company’s extensive network, submit an application for financing and they will be able to choose the V Bank option once their application has been approved.

With a 30 percent equity contribution to the value of the new car and affordable monthly repayments, customers will also be able to access insurance, registration, maintenance, and other value-added services from accredited Autochek partners.

Similarly, Autochek has built the infrastructure to drive the penetration of auto financing across Africa, powered by a data analytics engine that makes it easier to offer credit for automotive purchases. Customers can get instant financing offers once the necessity criteria have been met.

With operations in 9 countries across East, South, West, and North Africa, more than 70 banking partners, and a partner-led footprint of more than 2,000 dealers and workshop locations, the company has unrivaled access to insights on vehicle-related transactions that positions it to develop effective solutions for the continent’s automotive ecosystem.

Commenting on the partnership Mayokun Fadeyibi, COO at Autochek Marketplace, said “Vbank’s commitment to providing affordable financing aligns perfectly with our mission to drive the penetration of car financing across the continent, and we are excited to deepen our relationship with this collaboration. With our combined expertise, I am confident that we will be able to connect more customers to the financing they need to access the vehicles they desire, which should in turn catalyze more growth across the automotive sector and the economy at large.” 

Commenting on the partnership between Vbank and Autochek, the MD, Gbenga Omolokun said:

“At Vbank, our mission has always been to empower and uplift our customers and we are guided by the core principles encapsulated within our brand positioning “Enabling you to achieve”. ACHIEVE is an acronym which captures our key focus areas with the letter V symbolizing Vehicle/Mobility.

This partnership with Autochek will bring forth a wave of opportunities for businesses and individuals alike, stimulating economic growth and driving progress across Nigeria. With Vbank’s financing options, a 30 percent equity contribution, and affordable monthly repayments, we aim to not only ease the burden of car ownership but also impact the entire value chain, benefiting dealers, workshops, SMEs, and, most importantly, the consumers we serve.”

Loading

Advertisements
MTN ADS

Author

  • Peter Oluka
    Peter Oluka

    Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

    View all posts
0Shares
Tags: autochekVDF
Previous Post

Interswitch Unveils Techconnect 3.0: Enabling Innovative Payment Solutions

Next Post

Climate Action Africa Takes Center Stage at #ACS2023

Peter Oluka

Peter Oluka

Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

Related Posts

Unity Bank | AfriGO
Fintech

Unity Bank, AfriGo Explore Collaboration to Deepen Access to Electronic Payments

by Latifat Fashina
June 2, 2025
0

Unity Bank Plc has reaffirmed its commitment to advancing electronic payment adoption and financial inclusion by partnering with domestic card...

Read more
PalmPay Unveils ‘Passing the Baton’ CSR Initiative

PalmPay Unveils ‘Passing the Baton’ CSR Initiative

May 29, 2025
Interswitch Group at 2025 Africa Soft Power (ASP) Summit in Nairobi, Kenya

How Interswitch Group Deepens Homegrown Innovation

May 29, 2025
SANEF and CIBN

SANEF, CIBN Partner to Expand Agency Banking Certification

May 29, 2025
Access Bank BVN and NRBVN

Access Bank Opens NRBVN Registration for Nigerians in Diaspora

May 26, 2025
Nigeria’s Top 10 Payment Gateway Providers

Nigeria’s Top 10 Payment Gateway Providers

May 23, 2025
Next Post
Climate Action Africa

Climate Action Africa Takes Center Stage at #ACS2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.