Access Bank Plc, in collaboration with InfoStride News, has unveiled a green energy solution in partnership with Asolar to address power supply challenges encountered by small and medium enterprises (SMEs) and rural communities throughout Nigeria. The launch event took place at the Access Bank Branch in Garki, Abuja, showcasing a range of products, including solar-powered TV sets, air conditioners, PoS machines, and more.
During the unveiling ceremony titled ‘Light up your community,’ Victor Etuokwu, Deputy Managing Director of Access Bank, emphasized the significant obstacle that inconsistent power supply poses to businesses and livelihoods in the country. Represented by Neka Adogu, the bank’s Director of Regional Services, Mr. Etuokwu highlighted the initiative’s goal of promoting financial inclusion in rural areas.
He outlined the challenges faced by SMEs and individuals in rural communities with limited or no power supply, leading to substantial expenses on generators, fuel, and maintenance. Mr. Etuokwu emphasized that the absence of reliable power access acts as a critical barrier to financial inclusion and modern financial services, hindering digital banking and payment systems in underserved rural areas.
The partnership with ASOLAR aims to introduce cost-effective and dependable solar-powered solutions tailored specifically for small and medium businesses. By leveraging solar energy, Access Bank seeks to liberate these enterprises from the constraints of unreliable power sources, offering alternatives to traditional generators reliant on expensive and polluting fossil fuels. The goal is to reduce operational costs, enhance productivity, and stimulate growth for these businesses.
The collaboration between Access Bank PLC and ASOLAR goes beyond transforming power solutions; it integrates the Access CLOSA Agent Network platform as the digital payment provider. This strategic move enhances the reach and accessibility of the solar-powered solutions, aligning with Access Bank’s commitment to promoting financial inclusion.
Hakeem Shagaya, CEO of Asolar, expressed the company’s dedication to ensuring every citizen has access to reliable and sustainable energy across Nigeria. He emphasized the initiative’s alignment with sustainable development goals on clean and renewable energy, highlighting its impact on environmental stewardship, emissions reduction, preservation of ecosystems, and biodiversity promotion.
Chizoba Iheme, Group Head of Financial Inclusion at Access Bank Plc, revealed that the bank boasts over 300,000 Access agents nationwide to facilitate the distribution of these green energy solutions. The initiative, aimed at providing a lasting solution to power challenges faced by SMEs, particularly in rural areas, is expected to significantly enhance business sustainability and growth across Nigeria.
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