In the Kenyan corporate landscape, NCBA has been a leading advocate for sustainability and a greener future by taking a raft of measures towards this vision.
The bank recently launched a new solar leasing project aimed at helping local businesses access solar energy without the upfront costs. This Solar Photovoltaic solution campaign will enable business owners to adopt solar power more affordable.
This initiative also aims to help companies cut their electricity costs by up to 50% while meeting sustainability goals. The affordable, flexible offer is available to businesses in manufacturing, healthcare, and agriculture.
NCBA Bank is using a leasing model, allowing businesses to pay for the solar investment in smaller, manageable amounts over time. This approach helps reduce the financial hurdles often linked with adopting solar energy.
“NCBA’s Solar PV Leasing allows businesses in manufacturing, healthcare and agriculture to benefit from solar energy with manageable payments, eliminating high upfront costs<” said the NCBA Group Director in charge of Asset Finance, Lennox Mugambi.
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As Kenya aims to reduce emissions by 32% by 2030, NCBA is dedicated to supporting clients in financing sustainable solutions as part of its environmental goals. Around a year ago, the bank made a significant move in clean energy by introducing a KES 500 million solar financing facility.
“The cost of energy and the need to build a green environment are driving demand for solar solutions. In Africa, the cost of financing is three times higher compared to the rest of the world,” said Jibril Omar, CEO and Commercial Director at OFGEN.
Davis & Shirtliff’s General Manager, Joseph Wanene, stated that solar financing will be available to businesses that have their documentation fully in order.
