Mutual Trust MFBank unveils N10m solar financing for renewable energy

Business A.M

Mutual Trust MFBank Limited, one of Nigeria’s leading microfinance banks has commenced the advancement of loans up to N10 million per head, to workers in public and private sectors towards the acquisition of solar panels, batteries, inverters, and clean and renewable energy equipment.

The loan dubbed “solar loan” is designed to help individuals and organisations in the public and private sectors achieve ample savings on money spent on traditional fuelling and electricity and also help reduce carbon footprints through a cost-effective alternative green energy solution.

Commenting on the Solar Loan product, Josh Oyebisi, managing director/CEO of Mutual Trust MFBank, said the clean energy revolution by the bank  is to ensure Nigerians have easy access to cost-effective solar technologies without the burden of initial high costs.

He noted further that it is aimed at helping to reduce the impact of the economic challenges and the subsidy removal on Nigerians across the country.

According to Oyebisi,Nigeria, like many developing nations, faces traditional energy-related challenges ranging from increased fuel costs due to subsidy removal to issues of power supply and the non-ecofriendly situations associated with the use of generators.

“Recognizing the urgency of solving these issues, Mutual Trust has stepped forward to bridge innovative financial services and affordable clean energy by offering flexible and accessible solar loan solutions to individuals and organizations in the public and private sectors,” he said.

The managing director added that the company is paving the way for the future of the country to be powered entirely by clean and renewable energy.