As part of its ongoing sustainability efforts, NCBA Bank announced the launch of a new Solar Photovoltaic (PV) campaign on Tuesday, aimed at supporting local businesses. The initiative is designed to help businesses lower their carbon footprints and manage rising energy costs by offering easier access to solar power solutions.
Through its innovative Solar PV Leasing program, NCBA Bank plans to provide affordable and flexible access to solar energy, targeting industries such as manufacturing, healthcare, and agriculture.
This approach the bank says allows businesses’ operations to run on solar energy without having to invest hugely at the initial stage, but through manageable lease payments over a period of time.
The Solar Financing Product is tailored to empower businesses by providing them with a reliable and affordable means to invest in solar power systems, therefore eliminating the financial barriers associated with solar adoption.
The bank, through this, expects to promote renewable energy sources in different sectors so that organizations can reduce operational costs apart from working towards broader sustainability.
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NCBA Group Director of Asset Finance Lennox Mugambi noted that this would go a long way in ensuring businesses become more energy-efficient.
“NCBA’s Solar PV Leasing allows businesses in manufacturing, healthcare, and agriculture to benefit from solar energy with manageable payments, eliminating high upfront costs.” Lennox Mugambi, NCBA Group Director, Asset Finance said.
With this campaign, NCBA Bank reiterates its commitment to drive sustainable development through the provision of innovative financial solutions that empower businesses to make environmentally friendly choices in line with economic and environmental imperatives.
The launch comes close to a year after the bank took a significant stride towards advancing clean energy sources through the provision of a KES500M solar financing facility.
At the event, the NCBA also noted that ESG is at the forefront of its strategy. With Kenya’s goal to reduce emissions by 32% by 2030, NCBA says it is committed to helping clients finance sustainable solutions, from clean energy projects to green infrastructure.
