Access Bank and Asolar Collaborate to Empower Nigerian SMEs with Green Energy Solutions

Access Bank Plc, in partnership with Asolar, has introduced a green energy initiative to address the persistent power supply challenges encountered by small and medium enterprises (SMEs) and rural communities in Nigeria.

Empowering SMEs with Solar-Powered Solutions

The initiative encompasses a range of products, including solar-powered TV sets, air conditioners, and Point of Sale (PoS) machines. The launch event, titled ‘Light up your community,’ took place at the Access Bank Branch in Garki, Abuja, signaling a significant step towards sustainable and reliable energy solutions.

Victor Etuokwu, the Deputy Managing Director of Access Bank, represented by Neka Adogu, the bank’s Director of Regional Services, emphasized the critical role of consistent power supply for businesses and livelihoods. He highlighted the challenges faced by SMEs and rural communities in procuring and maintaining traditional power sources.

Addressing Financial Inclusion and Power Accessibility

Etuokwu stressed the importance of dependable electricity for modern financial services, particularly in underserved rural areas. The collaboration aims to introduce cost-effective and reliable solar-powered solutions tailored for SMEs, reducing operational costs, enhancing productivity, and fostering growth. The partnership also leverages Access Bank’s CLOSA Agent Network platform for digital payment services.

“Access Bank PLC collaboration with ASOLAR is not merely transforming power solutions; it is utilizing our Access CLOSA Agent Network platform as the digital payment provider,” Etuokwu explained.

Commitment to Sustainable Development Goals

Hakeem Shagaya, CEO of Asolar, expressed the company’s commitment to providing reliable and sustainable energy access throughout Nigeria. He emphasized the initiative’s alignment with the sustainable development goals related to clean and renewable energy.

“This initiative is not just about illuminating homes; it is about lighting the way for a greener and cleaner tomorrow. The Solar Home Systems represent a commitment to environmental stewardship, reducing carbon footprints, and actively contributing to the global fight against climate change,” Shagaya stated.

Distribution Network and Environmental Impact

Chizoba Iheme, Group Head of Financial Inclusion at Access Bank, revealed that the bank’s extensive network of over 300,000 Access agents across the country would facilitate the distribution of these green energy solutions.

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The initiative is poised to offer a lasting solution to the power challenges faced by SMEs, especially those located in rural areas. The focus is on enhancing business sustainability and growth, aligning with broader environmental and economic objectives.

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