Azuri Technologies and First Bank of Nigeria (FBN) of Nigeria has collaborated to supply off-grid solar power to Nigerians. The Azuri Solar home product will be co-branded and co-marketed by First bank and Azuri. This collaboration is to bring modern financial and digital services, and also enable financial services in rural areas despite the power challenges experienced at any point in time through FBN Firstmonie agents. Firstmonie agents provide basic financial services such as account opening, cash deposit, cash withdrawals and bill payments.
The CEO Azuri Technologies Simon Bransfield-Garth said the low rates of electricity within sub-Saharan Africa has been a major obstacle to Africa’s economic growth and development. The scale of Nigerians grid-electricity under supply is discouraging, because lack of steady power supply restricts modernization and local development. This under supply of electricity exposes people to expensive alternatives which might be harmful like Fuel.
This partnership will enable customers pay for their solar through First Bank Firstmonie agent and mobile solution. The agents are positioned within semi-urban and rural locations across the country.
Bransfield-Garth said this partnership will extend the reach of solar power and make it easier for locals to access and pay for new services.
“This partnership combines the reach of FBN with Azuri’s technology and pay-as-you-go solar expertise to bring next generation power to off-grid consumers in Nigeria. Azuri and First Bank share the vision of a level playing field where all consumers have the ability to benefit from modern financial and digital services, regardless of where they live and this agreement is another step in making that vision a reality,” He said.
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According to him, in as much as many of Azuri’s customers are on a low income, they still spend a large amount of money on other alternatives. He said that solar is bringing reliable clean power to millions and in the process helping households increase productivity and family incomes. The combined effort of Azuri and FBN will ensure rural off-grid areas access and benefit from affordable clean energy and solar based services.
“In Nigeria over the last 18 months, Azuri has delivered more than 20,000 solar home lighting systems with the backing of Nigerian government.” He also said.
Adesola Adeduntan First Bank CEO said “Financial inclusion is a priority with FirstBank and we are excited that with this partnership, our customers are able to access a wide range of services that address real problems such as access to power. With our over 16,000 Firstmonie Agents spread across the length and breadth of Nigeria, our customers are at an advantage in enjoying seamless financial services from the Bank that puts them first.”
Azuri systems; Solar lighting, Solar TV etc. aims to provide world class performance at an affordable price for all customers that experience irregular power supply. Payments to access Azuri Solar Systems power can be made weekly and monthly.
This partnership will help increase income and improve productivity.