Access Bank, ASolar launch green energy solution for SMEs

by Vincent Godstime

Access Bank Plc has partnered with ASolar Systems Nigeria to launch green energy products that will provide support to small-scale businesses across Nigeria facing power supply challenges. The products launched include solar-powered TV sets, air conditioners, and PoS machines, among others. The launch event, tagged “Light Up Your Community”, was held on Tuesday at the Garki branch of Access Bank in Abuja.
During the event, Victor Etuokwu, the Deputy Managing Director of Access Bank, noted the challenges faced by small and medium enterprises regarding power supply. He emphasized that the lack of power supply hampers financial inclusion in rural areas, which is a yardstick for economic growth.
 
 

Access Bank, ASolar launch green energy solution for SMEs

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.

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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

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