FirstRand Unit WesBank to Offer Nigerian Vehicle Finance
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FirstRand Ltd., Africa’s largest bank by market value, is to offer vehicle finance in Nigeria as the Johannesburg-based lender targets growth in the continent’s biggest economy.
FirstRand’s WesBank has signed a memorandum of understanding with Nigeria’s National Automotive Council to serve retail and business customers in Africa’s most-populous nation, the vehicle-financing unit said in a statement today. The agreement aims to to stimulate the sale of locally assembled autos in Nigeria, it said.