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Access Bank launches green energy solutions. Access Bank Plc, in collaboration with ASolar Systems Nigeria, has created green energy products to assist small-scale businesses across the country that are experiencing power supply difficulties.
The collaborating organizations unveiled the items, which include solar-powered TV sets, air conditioners, and PoS machines, among other things, on Tuesday at the Access Bank Garki branch in Abuja.
During the “Light Up Your Community” launch ceremony, Access Bank Deputy Managing Director Victor Etuokwu highlighted the power supply difficulties faced by small and medium industries.
According to Atuokwu, who was represented by Neka Aduogu, the Director of Regional Services, a shortage of electricity supply inhibited financial inclusion in rural regions, which is a benchmark for economic growth.
“This inconsistent power supply poses a substantial challenge for small and medium enterprises [SMEs] as well as initiatives aimed at promoting financial inclusion in rural areas, which is considered a yardstick for economic growth in Nigeria.
“Currently, in Nigeria, owners of SMEs spend huge sums on procuring generating sets, purchasing fuel, and the maintenance of 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.
“Through this partnership, we embark on a transformative journey to introduce cost-effective and dependable solar-powered solutions tailored specifically for small and medium businesses.”
Chief Executive Officer of Asolar Systems, Hakeem Shagaya, while fielding questions from pressmen at the event, explained that a unit of the products costs between N150,000 and N300,000, adding that payments could be spread across a 6-month period.
He also stated that the company has sold approximately 80,000 units of the products and was trying to expand distribution through Access Bank representatives across the country.
“We currently have over 80,000 customers on our database.” Approximately 30,000 people have paid for the systems. We now have over 55,000 items in stock and a minimum reorder stock level. So, now that we’ve partnered with Access, we’re hoping that the volume will increase, and as it does, we’ll grow our financing.”
Previously, Chizoba Iheme, Group Head, Financial Inclusion, Access Bank Plc, revealed that the bank had over 300,000 Access agents across the country to help with distribution.