Access Bank PLC in partnership with Asolar, has launched a green energy initiative to enhance financial inclusivity for communities and small-scale businesses.
The Access Bank partnered with ASOLAR Nigeria Limited on the launch to ensure constant electricity for Small and Medium Entrepreneur (SMEs) in Nigeria and Boost Financial Inclusion.
Speaking at the unveiling ceremony, in Abuja, Access Bank Regional Director, Branch Banking, Neka Adogu, noted that the Access Bank’s and ASOLAR partnership will cap the challenges posed by inconsistent power supply, particularly for Small and Medium Enterprises (SMEs) and promote financial inclusion in rural areas that are crucial for Nigeria’s economic growth.
While speaking on the theme: “Advancing environmental sustainability, delivering energy solutions, and enhancing financial inclusivity for under-served Nigerians.” Adigun emphasized on the pivotal role of consistent power supply.
She said, “SME owners currently grapple with substantial expenses related to procuring generators, purchasing fuel, and maintaining power sources.”
She noted that it was due to this reason that Access Bank PLC embarked on this partnership with ASOLAR, a leading solar operating institution to introduce cost-effective and dependable solar-powered solutions tailored specifically for SMEs, envisioning a shift away from traditional generators reliant on expensive and polluting fossil fuels.
She added that the transformative initiative not only targets businesses but extends its impact across the nation.
Adigun added: “Access Bank’s collaboration with ASOLAR integrates their Access close agent network platform as the digital payment provider, facilitating widespread adoption of digital banking and financial services even in remote areas. This dual approach seeks to bridge the gap between power access and financial inclusion.
“The broader implications of this partnership on economic growth and development, inviting stakeholders to join in sowing the seeds of progress. The collaboration envisions not only empowering SMEs to thrive in an eco-friendly environment but also contributing to a brighter, more sustainable world.”
Adogu further urged everyone to seize this opportunity to make a difference, light up lives, and energize the future of rural communities.
In his remarks, the Managing Director/CEO of ASOLAR, Hakeem Shagaya, noted that Nigeria’s owners of SMEs spend huge sums in procuring generating sets, purchasing fuel, and the maintenance of generators to operate their business successfully.
He explains that the partnership aims at propelling Nigeria towards inclusive economic growth and development.
He said: “This partnership is a testament to our dedication to providing sustainable and transformative solutions, empowering SMEs to thrive in a more efficient and eco-friendly business environment.
“The most exciting aspect of this groundbreaking initiative extends far beyond SMEs, it is also a game-changer for everyone. 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.
“This integration aims to facilitate the widespread adoption of digital banking and financial services, ensuring access even in the most remote corners of our nation. We envision an ecosystem where financial inclusion thrives alongside access to power.”
Earlier, Group Head, Financial Inclusion, Access Bank Plc, Chizoba Iheme, disclosed that the bank has over 300,000 Access agents across the country to facilitate the distribution.
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