Eunice Imo Kalu
Lagos — Access Bank Plc, in partnership with ASolar Systems Nigeria, has launched a range of efficient green energy products, pointing towards supporting small-scale businesses with power supply issues across the country.
The newly launched products, including solar-powered television sets, air conditioners, and point of sales, PoS, machines were unveiled at Access Bank’s Garki branch in Abuja during the event named “Light Up Your Community.”
Victor Etuokwu, Deputy Managing Director of Access Bank, who spoke during the launch, said the poor power supply in the country has turned into a significant problem to businesses and livelihoods in the country.
Represented by the bank’s Director of Regional Services, Neka Adogu, Mr Etuokwu said the initiative was aimed at promoting financial inclusion in rural areas.
He said: “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.”
Etuokwu added: “This disparity in power access widens the financial gap, impeding initiatives aimed at providing banking and financial services to those who are most in need.
“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.
“By harnessing the potential of solar energy, we aim to untether these businesses from the shackles of unreliable power sources and offer promising alternatives to traditional generators reliant on expensive and polluting fossil fuels.
“By providing access to affordable solar-powered solutions, we endeavor to significantly reduce operational costs, enhance productivity and catalyse growth for these enterprises.
“Access Bank PLC collaboration with ASOLAR is not merely transforming power solutions; it is utilising our Access CLOSA Agent Network platform as the digital payment provider.”
In his remarks, the Chief Executive Officer of Asolar, Hakeem Shagaya, said the company was committed to ensuring every citizen has access to reliable and sustainable energy across the country.
While appreciating the management of the bank for the collaboration, Mr Shagaya noted that the initiative was in line with the sustainable development goals on clean and renewable energy.
Group Head, Financial Inclusion, Access Bank Plc, Chizoba Iheme, disclosed that the bank has over 300,000 Access agents across the country to facilitate the distribution across Nigeria.
