A New Solar Leasing Program has been launched by NCBA for Local Businesses

Posted on : Monday , 4th November 2024

NCBA Bank announced the start of a new Solar Photovoltaic (PV) campaign aimed at local businesses as part of its ongoing sustainability initiatives. By making solar power adoption simpler, the program aims to assist companies in managing rising energy expenses and lowering their carbon footprints.

NCBA Bank hopes to give sectors including manufacturing, healthcare, and agriculture more affordable and flexible access to solar energy with its cutting-edge Solar PV Leasing solution.

According to the bank, this strategy enables companies to run their operations on solar energy with affordable lease payments spread out over time rather than requiring a large initial investment.

The Solar Financing Product is designed to remove the financial hurdles to solar adoption by giving businesses a dependable and reasonably priced way to invest in solar power installations.

Through this, the bank hopes to encourage the use of renewable energy sources across many industries, allowing businesses to lower operating expenses while simultaneously pursuing greater sustainability. According to Lennox Mugambi, NCBA Group Director of Asset Finance, this would significantly contribute to businesses being more energy-efficient.

"NCBA's Solar PV Leasing eliminates high upfront costs and enables businesses in manufacturing, healthcare, and agriculture to benefit from solar energy with manageable payments." NCBA Group Director, Asset Finance, Lennox Mugambi, stated.

By launching this campaign, NCBA Bank reaffirms its dedication to promoting sustainable growth by offering cutting-edge financial solutions that enable companies to make eco-friendly decisions in accordance with both environmental and economic demands.

The announcement was made about a year after the bank made a big move to promote clean energy sources by offering a KES500M solar lending facility.

The NCBA also mentioned at the occasion that ESG is a key component of its strategy. In light of Kenya's 2030 emission reduction target of 32%, NCBA claims it is dedicated to assisting customers in funding sustainable solutions, such as green infrastructure and renewable energy projects.