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| L-R: Director, Regional Services, Access Bank, Neka Aduogu; CEO, ASolar Systems Nigeria, Hakeem Shagaya; and Chairperson, ASolar Systems Nigeria, Bola Shagaya, unveiling the solar-powered energy products on Tuesday… Credit: Olukayode Jaiyeola |
Access Bank Plc, in partnership with ASolar Systems Nigeria, has launched green energy products to support small-scale businesses facing power supply challenges across the country.
The partnering organisations launched the products which
include solar-powered TV sets, air conditioners, and PoS machines, among many
others, on Tuesday at the Garki branch of the Access Bank in Abuja.
Speaking at the launch event tagged “Light Up Your
Community”, Access Bank Deputy Managing Director, Victor Etuokwu, noted the
challenges faced by small and medium enterprises regarding power supply.
Represented by Neka Aduogu, the Director, Regional Services,
Atuokwu also said the lack of power supply hampered financial inclusion in
rural areas, which is a yardstick 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 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.
“Currently we have over 80,000 already to customers on our
database. Maybe about 30,000 have completed payment for the systems. We have a
current stock of over 55,000, and we have a minimum reorder stock level. So as
we have partnered with Access, we hope that the volume will go up, and as the
volume is going up, we will expand our financing”.
Earlier, Chizoba Iheme, Group Head, Financial Inclusion,
Access Bank Plc, disclosed that the bank had over 300,000 Access agents across
the country to facilitate the distribution.