Absa Bank To Offer Energy Grants To Small & Medium Enterprises In South Africa
focusing on developing the markets for C&I and residential solar in several countries in East and Southern Africa for one of my previous employers. Back then, there weren’t many financing options for businesses looking to get into solar both from traditional banking channels or via other developers through things like corporate PPAs. This is one of the reasons why most corporates who were installing solar at that time did it via outright purchases, which meant that adoption was quite slow.
“SMEs make a significant contribution to job creation and economic growth in South Africa. However, in many instances, the operating environment over the past few years has made it very difficult for these vital enablers to grow and thrive,” said Ronnie Mbatsane, Managing Executive for SME Business at Absa Relationship Banking.
This launch follows the considerable investments Absa has already made in the renewable energy sector, including the solar offering for Absa Home Loan clients, a personal loan option for retail customers to procure alternative power sources, and bespoke solutions supported by subject matter experts who have assisted SMEs to find the best option for their particular needs.
Additionally, through the Supplier Value Chain development initiative, Absa has supported SME installers in funding their SAPVIA PV Green Card accreditation, supporting emerging township economies, pipeline commercialisation and allowed Absa’s SME customers to participate in the value chain.
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