AGS NEWS – Access Bank has introduced a new product aimed at providing affordable financing for businesses and customers seeking to adopt cleaner, more reliable electricity sources.

The initiative, titled “Switch to Solar by Access,” was announced on Thursday as part of the bank’s broader commitment to social responsibility and sustainable development.

Njideka Esomeju, Group Head of Consumer Banking at Access Bank, highlighted the significance of renewable energy in reducing carbon footprints and promoting environmental sustainability.

She emphasized that the initiative is designed to make solar power more accessible by offering flexible financing options, ensuring that households can transition to solar energy while reducing costs.

The initiative involves partnerships with vendors across Nigeria who supply solar products, further enabling Access Bank to align with Environmental, Social, and Governance (ESG) goals.

ALSO READ: Banks fined N678m by CBN and SEC

Bolarinwa Animashaun, the bank’s Regional Sales Director, noted that the initiative emerged from customer engagement, aiming to provide alternative power solutions amid rising electricity tariffs.

Abiodun Olubitan, Group Head of the W Initiative at Access Bank, stressed the bank’s focus on empowering women and women-led businesses through this product.

She noted that the initiative targets underserved markets, where women make up a significant portion of the population.

Olubitan also outlined the financial terms of the initiative, which allows businesses to access up to N50 million and individuals up to N10 million for solar installations, with competitive interest rates and flexible repayment options.