The partnership aims to introduce cost-effective and dependable solar-powered solutions that are tailored specifically for small and medium businesses. The solutions will help SMEs reduce the cost of procuring generating sets, purchasing fuel, and maintaining generators to operate their businesses successfully. Dependable electricity is a fundamental prerequisite for implementing modern financial services like digital banking and payment systems, particularly in underserved rural areas.
Hakeem Shagaya, the Chief Executive Officer of Asolar Systems, disclosed that the products’ cost ranges between N150,000 and N300,000, with payments spread across six months. He added that the company had already sold about 80,000 units of the products but was looking to scale up distribution through Access Bank agents across the country.
Access Bank has over 300,000 agents across Nigeria to facilitate the distribution of green energy products. The bank’s Group Head, Financial Inclusion, Chizoba Iheme, disclosed this during the launch event. The partnership is expected to help SMEs in Nigeria access cost-effective and dependable solar-powered solutions, which will ultimately improve financial inclusion in rural areas and contribute to economic growth
