Bank Partners Firm To Power SMEs, Rural Communities

Access Bank Plc, in collaboration with Asolar, has launched a green energy solution to tackle power supply challenges faced by small and medium enterprises and rural communities across the country.
The products, which included solar-powered TV sets, Air Conditioners, and PoS machines, were launched yesterday at the Access Bank Branch in Garki, Abuja.
Speaking during the unveiling ceremony tagged, “Light up your community”, the Access Bank Deputy Managing Director, Victor Etuokwu, said the inconsistent power supply has become a major obstacle to businesses and livelihoods in the country.
Represented by the bank’s Director of Regional Services, Neka Adogu, Mr Etuokwu said the initiative was aimed at promoting financial inclusion in rural areas.
He said, “This inconsistent power supply poses a substantial challenge for small and medium enterprises (SMEs) as well as initiatives aimed at promoting financial inclusion in rural areas, which is considered a yardstick for economic growth in Nigeria.
“Currently, in Nigeria, owners of SMEs and people living in rural communities with non or little power supply, spend huge sums in procuring  generating sets, purchasing fuel, and the maintenance of generators to operate their business successfully.
“Furthermore, in the broader context of financial inclusion, the absence of power accessibility becomes a critical barrier”.
In his remarks, the Chief Executive Officer of Asolar, Hakeem Shagaya, said the company was committed to ensuring every citizen has access to reliable and sustainable energy across the country.
While appreciating the management of the bank for the collaboration, Mr Shagaya said the initiative was in line with the sustainable development goals on clean and renewable energy.
In her remark, Chizoba Iheme, Group Head, Financial Inclusion, Access Bank Plc, said the bank has over 300,000 Access agents across the country to facilitate the distribution across Nigeria.
The initiative is generally geared towards proffering a lasting solution to the problem of power ( light) faced by SMEs across Nigeria; especially those situated in rural areas.
It is predominantly expected to enhance business sustainability and growth amongst SMEs across Nigeria.