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As consumers seek alternatives to vehicle ownership, and with younger age groups starting to actively participate in the acquisition of assets, expectations on financial institutions and their offerings are changing rapidly, Wesbank’s chief executive says, adding that the local industry must evolve to cater for this new lifestyle trend banks can’t ignore.” Ghana Msibi says he expects the motoring industry, including vehicle finance, to evolve more over the next five years than it has in the past four decades. “Generally speaking, Baby Boomers and Generation X are regarded as saving ag...

b DO YOUR HOMEWORK: /b It’s important to know all the facts before signing a vehicle finance contract. i Image: iStock/ /i • Baby Boomers and Generation X interact with many things differently to the Gen Y and Z groups, Wesbank CEO Ghana Msibi says.  • The head of the FNB's vehicle finance arm is predicting a big shift in the motor industry in the next five years.  • He has earmarked shared mobility and online transactions as two of the many ways people will think about their transport needs.  *Wesbank CEO Ghana Msibi sheds lights on where he sees the vehicl...

With younger age groups starting to actively participate in the acquisition of assets, expectations on financial institutions and their offerings are changing…