Access Bank Plc, in collaboration with Asolar, has introduced a green energy initiative to address power supply challenges encountered by small and medium enterprises (SMEs) and rural communities in Nigeria. The launch of solar-powered products, including TV sets, air conditioners, and Point of Sale (PoS) machines, took place at the Access Bank Branch in Garki, Abuja, on Tuesday.
During the unveiling ceremony themed ‘Light up your community,’ Victor Etuokwu, the Deputy Managing Director of Access Bank, expressed concerns about the impact of inconsistent power supply on businesses and livelihoods in the country. Represented by Neka Adogu, the bank’s Director of Regional Services, Etuokwu highlighted the initiative’s focus on promoting financial inclusion in rural areas.
He noted that the unreliable power supply poses challenges for SMEs and financial inclusion efforts, hindering economic growth. Etuokwu emphasized that the partnership with ASOLAR aims to introduce cost-effective and reliable solar-powered solutions tailored for small and medium businesses, reducing operational costs and fostering growth.
The collaboration utilizes Access Bank’s CLOSA Agent Network platform as the digital payment provider. Hakeem Shagaya, the CEO of Asolar, affirmed the company’s commitment to providing reliable and sustainable energy access nationwide, aligning with sustainable development goals on clean and renewable energy.
Chizoba Iheme, Group Head of Financial Inclusion at Access Bank, disclosed that the bank has over 300,000 Access agents across the country to facilitate the distribution of eco-friendly energy solutions. The initiative seeks to offer a lasting solution to power challenges faced by SMEs, particularly in rural areas, aiming to enhance business sustainability and growth.
The green energy initiative not only addresses power needs but also aligns with environmental stewardship goals. Shagaya emphasized the positive impact on the environment, including reduced carbon footprints, preservation of ecosystems, promotion of biodiversity, and contributing to the global fight against climate change. The initiative aims to create a more sustainable and resilient planet for future generations