NCBA Group has launched its Solar PV Leasing Solution, allowing businesses to transition to solar energy without bearing the high upfront costs traditionally associated with such projects. This innovative financing model aims to help companies reduce electricity costs and meet sustainability targets.
“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, underscoring the economic and environmental importance of solar energy adoption in the region.
NCBA’s leasing solution allows businesses to reallocate up to 50% of their power bills to solar energy, offering significant savings. “We are making it accessible for businesses with all their documentation in order,” said Joseph Wanene, General Manager at Davis & Shirtliff.
By eliminating the need for additional collateral, the Solar PV Leasing model allows companies to use assets without affecting their balance sheets. “We are steering away from traditional financing,” explained Lennox Mugambi, Group Director, Asset Finance & Business Solutions at NCBA.
This initiative is designed to support businesses across various sectors, with real-time data and remote monitoring systems ensuring optimal value from solar installations. “Our goal is to understand our clients to maintain high service standards,” said John Wachira, Director at Safi Power.
Solar technology has rapidly evolved, reducing emissions and energy costs. “These products are critical in helping us reduce our carbon footprint,” noted Sammy Waite, Head of Design & Engineering at Chloride Exide. NCBA’s leasing solutions have adapted to technological advances, offering upgrades to solar systems over time, making renewable energy more accessible.
