Access Bank has launched its ‘Switch to Solar’ campaign aimed at customers and businesses, with the goal of addressing climate change and promoting a cleaner energy environment.

The campaign was officially introduced at an event in Lagos, where the bank’s Group Head of Consumer Banking, Njideka Esomeju, outlined its objectives and benefits.

The campaign is designed to leverage the rapidly improving economics of solar and storage technologies, enabling households, commercial enterprises, and industrial clients to transition to cleaner energy sources.

Esomeju emphasized that this initiative aligns with Access Bank’s commitment to social responsibility and sustainable development.

Key Highlights of the ‘Switch to Solar’ Campaign:

Reliable Solar Energy Solutions:

The campaign will provide consumers with a reliable source of electricity through solar photovoltaic (PV) systems and batteries.

Access Bank is collaborating with accredited vendors across the country to ensure customers can acquire these products at competitive rates.

Flexible Financing Options:

Access Bank is facilitating the acquisition of solar power products through flexible financing options.

The bank offers financing for the entire solar setup, including panels, inverters, batteries, and installation, with payment plans ranging from 12 to 48 months.

Targeted Customer Segments:

The campaign targets various customer segments, including households, commercial businesses, and industrial factories.

Individual salary earners can access up to N10 million, while businesses can receive financing up to N50 million.

Commitment to Sustainability:

The initiative supports the Federal Government’s commitment to reducing greenhouse gas (GHG) emissions as part of its Nationally Determined Contribution to the United Nations Framework Convention on Climate Change Paris Agreement.

The government aims for a 20% unconditional GHG emission reduction and a 47% conditional reduction below 2018 levels, contingent on international support.

Social Impact and Gender Empowerment:

The campaign also focuses on social impact, targeting underserved communities, with about 60% of the population being women.

Access Bank is committed to gender empowerment, offering the solar products to women at discounted interest rates to support their business operations.

Voices from the Launch Event:

Njideka Esomeju: “We are launching a targeted initiative to facilitate the acquisition of solar power products through flexible financing options with the Switch to Solar product.

” Our aim is to ensure that all households, commercial businesses, and industrial factories are powered by solar.”

Gbenga Sheriff, Head of Risk Management, Environmental and Social Risk:

“This campaign will increase the adoption of solar power products in targeted clusters and have a positive environmental impact through reduced carbon emissions.”

Bolarinwa Animashaun, Regional Sales Director, Lagos 1:

“We needed to assist our customers by providing alternative ways to power their operations.

“The product can be easily acquired without pressure, with payment plans extending up to 48 months.”

Abiodun Olubitan, Group Head, Women Banking:

“We want to take this awareness in collaboration with our partners to the doorstep of every community around us, educating people about the benefits of solar energy and its impact on environmental sustainability.”

Access Bank’s ‘Switch to Solar’ campaign stands as a significant step towards fostering environmental sustainability and providing cleaner energy solutions to its customers, while also addressing social impact and gender empowerment.

Access Bank has granted 18 million digital loans worth N740 billion since the launch of its first
digital loan platform QuickBucks in 2017 aimed at strengthening financial inclusion.

The Group Head, Consumer Banking, Njideka Esomeju, disclosed this at the media roundtable of the revamp of Quick Bucks, Access Bank digital loan platform, on Tuesday in Lagos.

Esomeju said the digital lending solution was introduced by the bank to enable every Nigerian to achieve financial freedom.

“Many Nigerians are facing financial challenges due to the economic situation in the country.

“At Access Bank, our goal is to enable every Nigerian to achieve financial freedom, which is why we introduced digital lending solutions.

“Since 2017, when we issued our first digital PayDay loan, we have granted 18 million digital loans worth over N740 billion, where customers can access up to N10 million instantly,” she said.

She added that the bank had revamped the digital loan platform ‘QuickBucks’ to meet the needs of its retail customers to boost lending.

Esomeju said that customers can access the digital loans for businesses, vehicle financing and school fees payment.

According to her, QuickBucks loans allow customers to get that assistance fast and easily.

She said the loan can be accessed through the QuickBucks USSD code, Access More app for smartphone users, or on QuickBucks platform on web or app.

Esomeju said that QuickBuck loans would launch a new version of the platform with features such as improved credit scoring algorithms; more loan options, including a digital asset and vehicle financing digital loans; and strategic partnerships to improve its services and satisfy changing customer needs.

“At first, our digital loans were only for salary earners who had to pay back in 30 days.

“But now we have QuickBucks loans with up to 12 months of repayment time for customers who have salary accounts with us or other banks, self-employed and active account holders, and also our business account and trader account holders,” she said.

The Unit Head, Digital lending , Access Bank, Efe Obaigbena, said that QuickBucks loans are designed to meet the bank’s customers’ urgent financial needs.

“Since its launch in 2017, QuickBucks loans have improved significantly, and as a responsible lender, we make sure that our customers do not get into debt trouble, which is why we cap our loans at a certain percentage of salary or account transactions.

“Customers must also have good credit records across all financial institutions to be eligible for our loans,” Obaigbena said.

She noted that the interest rate charged on the loan was the lowest in the industry between five per cent and 15 per cent depending on the customer’s loan type.

“QuickBucks loans are designed to be easy to access, where customers who have low literacy can get our digital loans through USSD, helping them join the financial system by offering them digital loans even if they have different levels of financial knowledge,” she said.

Also speaking, Team Lead, Digital Lending, Access Bank, Mr Oladisun Dawodu, said the bank had adopted the FinTech culture as a way to stand out in the market.

“Access Bank foresees future developments in FinTech such as AI-based lending solutions, blockchain technology for safe transactions, and closer integration with financial ecosystems.

“Access Bank has prepared QuickBucks loans to respond to these developments by putting money into technology improvements and strategic actions to keep its competitive advantage in the market,” he said.

He said that QuickBucks loans primarily targets the working population (salary earners and self-employed customers) in Nigeria, which constitutes 26.4 per cent of the populace, to provide them with accessible and flexible digital loan solutions.

“QuickBucks Loans are designed to fit different user preferences by having flexible repayment plans, various loan options, and customized customer experiences through the accessing channels,” Dawodu said.

Access Bank’s W Initiative has announced the opening of applications for the highly anticipated 2023 edition of its Womenpreneur Pitch-a-ton.

The application process will begin on Monday, June 26, 2023, and will run until Friday, August 11, 2023.

The Womenpreneur Pitch-a-ton program spans three months and includes an eight-week mini-MBA training program conducted in collaboration with the International Finance Corporation (IFC).

During this period, participants will also have the opportunity to showcase their businesses in pitching sessions to a prestigious Pan-African jury.

The top finalists will present their business ideas, incorporating the knowledge gained from the mini-MBA program, and stand a chance to win financial grants and other consolation prizes.

Abiodun Olubitan, Group Head of Women Banking at Access Bank Plc, expressed her excitement about the launch of the new season, stating, “The continuity of the Womenpreneur Pitch-a-ton is a testament of Access Bank’s commitment to empowering female entrepreneurs in across Africa.

“We believe in providing women with the necessary tools, resources, and opportunities to succeed in the business world. We aim to build on the successes of previous editions and this year, we are increasing the number of beneficiaries to 120 women entrepreneurs.”

Entering its fifth season, the Womenpreneur Pitch-a-ton program is designed to support female entrepreneurs who have been running their businesses for at least one year, have at least 50% ownership or controlling rights, and fall within the age range of 18 to 55 years.

To apply, interested candidates must visit the official website at www.womenpreneur.ng and complete the online application form.

Upon closure of the application period, a team of independent business experts will review and screen all online submissions. Out of the numerous applications received, the top 500 candidates will be selected to proceed to the next stage.

These candidates will then be required to submit a sixty-second video pitch, which will determine the final top 120 participants.

Access Bank, through the W Initiative, launched the first Womenpreneur Pitch-a-ton in 2019 in line with its value proposition to be the No. 1 Bank of Choice for women in Nigeria, and the program has since received over 150,000 applications through its first four iterations.

The Bank has also awarded Mini-MBA trainings to 300 women and disbursed over N45 million in grants.

The President of the Federal Republic of Nigeria, Muhammadu Buhari, has appointed the Managing Director, Access Bank PLC, Roosevelt Ogbonna, to the Presidential High-Level Advisory Council on Support to Women and Girls.  

108scoop.com reports that the appointment comes on the heels of Access Bank PLC’s concerted contribution to women empowerment through access to adequate financing and literacy while promoting advocacy and specialised training. 

On his appointment, Ogbonna affirmed, “This feat signifies a more significant responsibility to ensure gender equality, equal access to opportunities and national development through purposeful long-term initiatives targeted at women.

“Being appointed by the Presidency signifies that we are doing something right at Access Bank and also points to the impact of our various initiatives and vocational training programs on the larger society.  

“Indeed, every individual, irrespective of status, organisation or tribe, has a part to play in ensuring the rights of women and girls are upheld.

“As we enter the month of the woman, we must recognise that gender equality is a fundamental human right and a necessary foundation for a peaceful, prosperous and sustainable nation.

“Therefore, all public and private stakeholders must work collaboratively to embrace equality, ensure women have a voice and have the right support to thrive,” Ogbonna concluded.  

Since unveiling the ‘W’ Initiative in 2014, Access Bank has worked to accelerate a new and more substantial wave of hitherto scanty female entrepreneurs in Nigeria.

In addition to financial inclusion and liberation, the ‘W’ initiative is a one-stop shop for all Access Bank’s women empowerment offerings. Some of these include capacity-building programs, mentoring programmes, and maternal health services, all aimed at helping to build a bigger, stronger and more sustainable society.  

Since Ogbonna’s appointment as the MD/CEO of Access Bank PLC, he has consolidated the Bank’s various initiatives to ensure equal access to opportunities and social infrastructure among women.

Under his stewardship, Access Bank signed a commitment letter with the DFC for $280 million in financing to help address the financing gap for small and medium-sized enterprises (SMEs) and advance financial inclusion in Nigeria, and aid the Bank’s commitment to supporting women-owned and led businesses.