Access Bank to Promote Cleaner Energy Among Businesses, Customers 

Samuel Mobolaji

Access Bank has launched its ‘Switch to Solar’ campaign to offer affordable financing opportunity to businesses and customers to adopt a cleaner and more reliable source of electricity through solar photovoltaic (PV) and batteries.

‘Switch to Solar’ a campaign of Access Bank is to enable businesses to access up to N50 million and individuals N10 million for the financing of Solar Photovoltaic (PV), Batteries & inverters along with installation, with competitive interest rate, flexible repayment period up to 48 months and as low as 10 per cent equity contribution on invoice value.

Speaking to media, Group head, Consumer Banking, Access Bank, Njideka Esomeju said, “in alignment with our commitment to social responsibility and sustainable development, Access Bank Retail banking aims to promote cleaner energy solutions within our communities.”

She added that recognising the critical role that renewable energy plays in reducing carbon footprints and fostering environmental sustainability, we are launching a targeted initiative to facilitate the acquisition of solar power products through flexible financing options with the Switch to solar product.

Esomeju added that, ”we launched the initiative which ensure that each household is able to have solar energy, first of all to reduce costs for them, provide clearer energy and the product will be financed by the Bank.” She stated that, in ensuring this the Bank is in collaboration with credited vendors across the country that are selling solar products.

Speaking on the bank’s alignment to ESG, the regional sales director of Access Bank, Mr. Bolarinwa Animasehun said that the switch to solar was born based on engagement with our customers. We needed to assist them to provide alternative ways to power their operations. We all know the cost of tariff of electricity, he added.

Animasehun added that, “the Bank is contributing to the Economic, Social and Governance (ESG) seven goals that were adopted by United Nations as this specifically aligns to it with global brand.”

The Group head of Women Banking at Access Bank, Abiodun Olubitan added that, “this campaign is very important because it speaks to sustainability, social impact and providing finance for individuals or coporates where in purchasing and pay over a period of 12 months to 48 months.”

Olubitan stated that, one of the major target markets for switch to solar are the underserved, saying that this population is probably like 60 per cent of women.

She added that the Bank commitment towards gender empowerment is inspire connect and empower women.

According to her, “we are trying to ensure that this product is also positioned to women’ reach. The products will be given to women at a very discounted interest rate as this will enable them to run their businesses in any scale that they wanted.

She added that the beauty of it is that we are not just ensuring that we have a clean environment, this is also our way of empowering women.”