First Bank Partners Azuri to Boost Solar Energy
Azuri Technologies Limited and First Bank Nigeria Limited have concluded a partnership deal aimed at speeding up penetration of pay-as-you-go solar energy into rural communities that are lacking access to national power grid.
Under the partnership, Azuri’s solar home TV product would be co-marketed and pay-as-you-go solar customers would be able to make regular top-ups for their solar through First Bank’s Firstmonie agent network or direct from their mobile.
Speaking at the agreement signing ceremony in Lagos, the Founder/Chief Executive Officer of Azuri Technologies, Mr. Simon Bransfield-Garth, said they combined the wide reach of First Bank with Azuri’s technology and pay-as-you-go solar expertise to bring the next generation power to off-grid consumers in Nigeria.
Bransfield-Garth, also said with over 10, 000 Firstmonie agents of Azuri spread across Nigeria, rural consumers would benefit from seamless financial services and easily top-up their solar systems, stressing that the deal would also result to energy, technology and financial inclusion in the unbanked and off-grid communities.
He said: “First Bank’s human ATM or Firstmonie agents will be able to process payments quickly and easily for Azuri customers and will also be solar ambassadors, helping to introduce the benefits and affordability of solar to off-grid consumers.
“Azuri believes in having strong local partnerships and local ties to the communities it serves. That, alongside with high quality products and scalable financing are the keys to the company’s continuing success.”
Bransfield-Garth, also disclosed that since the company started operation in Nigeria 18 months ago, it has delivered more than 20, 000 solar home lighting systems to consumers with the backing of the federal government, adding that it had also provided about 10, 000 jobs to Nigerians.
He noted that the company has three unique characteristics that set it apart in the payas-you-go solar space. These, according to him include the company’s technology – having Artificial Intelligence imbedded in its solar home systems, making it possible to provide reliable light to consumers even on a cloudy day.
“Secondly, Azuri has a distribution system that is designed to meet the needs of the consumer; Thirdly, Azuri is a leaders in the provision of receivables financing, secured on customers’ forward payments,” he added.