Access Bank, Nigeria’s largest bank by assets, has launched its ‘Switch to Solar by Access’ campaign.
The campaign aims to provide affordable financing options for businesses and individuals to adopt solar energy solutions and to promote cleaner, more reliable electricity through solar photovoltaic (PV) systems and batteries.
Njideka Esomeju, Group Head of Consumer Banking at Access Bank, introduced the initiative, emphasizing the bank’s commitment to social responsibility and sustainable development.
“Our goal is to promote cleaner energy solutions within our communities,” Esomeju said. “Recognizing the importance of renewable energy in reducing carbon footprints and fostering environmental sustainability, we offer flexible financing options to help facilitate the acquisition of solar power products.”
The initiative, designed to reduce energy costs and enhance energy reliability, is supported by partnerships with accredited vendors across Nigeria.
These collaborations ensure that solar products are available at competitive rates, enabling households, businesses, and industrial entities to transition to solar power.
Bolarinwa Animashaun, Access Bank’s Regional Sales Director, highlighted the campaign’s alignment with the United Nations’ Economic, Social, and Governance (ESG) goals.
“This initiative is a response to our customers’ needs for alternative energy solutions,” Animashaun noted. “We aim to assist them in managing the high costs of electricity tariffs while contributing to global ESG objectives.”
The financing product allows customers to acquire solar systems with payment terms of up to 48 months.
Additionally, the campaign includes special provisions for women and women-led businesses, with discounted interest rates to support gender empowerment and business growth.
Abiodun Olubitan, Group Head of the W Initiative at Access Bank, emphasized the campaign’s focus on women.
“Our commitment to gender empowerment is reflected in this initiative, which offers women easier access to solar energy solutions at discounted rates,” Olubitan said.
She noted that a significant portion of the target market comprises underserved women.
Thelma Luke Nwoye, Unit Head of Consumer Lending, outlined the campaign’s objectives: “We aim to raise awareness about solar energy’s benefits and its role in environmental sustainability.
Our goal is to reach communities directly and provide education on the advantages of solar power.”
The ‘Switch to Solar by Access’ campaign offers financing up to N50 million for businesses and N10 million for individuals.
This includes solar PV systems, batteries, inverters, and installation coverage, with competitive interest rates and flexible repayment options.
Customers are required to make as little as 10 percent equity contribution on the invoice value.
Access Bank seeks to enhance access to sustainable energy solutions through this initiative while supporting economic growth and environmental stewardship.
