Azuri Technologies a leader in off-grid pay-as-you-go solar technology has ventured into a partnership deal with First Bank of Nigeria to expand access to solar power to millions of Nigerians as well as deepen the financial inclusion in rural, low-income areas.
According to the partnership agreement witnessed in Lagos, Azuri’s solar home TV product will be co-branded and co-marketed by both partners.
The pay-as-you-go customers will also be able to make their weekly or monthly top-ups for their solar photovoltaic (PV) system through FirstBank’s Firstmonie agents or mobile payment solution.
According to a statement released by the UK-based firm, about 16,000 Firstmonie agents are positioned within rural and semi-urban locations across the country.
These agents provide basic financial services such as account opening, cash deposit, cash withdrawals and bill payments.
Commenting on the unique collaboration, Simon Bransfield-Garth, the CEO of Azuri said, “This partnership combines the reach of FirstBank with Azuri’s technology and pay-as-you-go solar expertise to bring next-generation power to off-grid consumers in Nigeria.”
“Azuri and FirstBank 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 added.
In addition, the CEO of FirstBank, Adesola Adeduntan, “Financial inclusion is a priority with FirstBank. With this partnership, our customers will be able to access a wide range of services that address real problems such as access to power.”
According to a new study by
Solar power as an alternative source of energy has boosted productivity especially among the rural areas in Sub-Saharan Africa.
Low rates of electrification, as poor infrastructure has hindered the growth of Sub-Saharan economies leading to an imbalance in economic progress.
Azuri technologies which
The company has been in operation for two years in Nigeria where it deployed 20,000 lighting systems in the Northern part of Nigeria.