FCMB unveils N30m clean energy loan for homes, SMEs
In a bid to promote sustainable energy use, First City Monument Bank (FCMB) has launched an enhanced energy finance loan of up to N30 million. This initiative aims to help Nigerian households and small businesses acquire clean energy solutions, including solar panels, inverters, and batteries.
The facility comes with a flexible repayment term of up to three years, providing financial relief to businesses and individuals by facilitating access to reliable and affordable clean energy.
The bank’s intervention aligns with Nigeria’s drive to achieve net-zero emissions by 2060 and is expected to alleviate the energy cost burden worsened by the removal of the fuel subsidy. FCMB’s Managing Director, Yemisi Edun, highlighted the importance of the initiative in driving growth and sustainability in the energy sector.
“This loan gives homes and businesses easy access to clean energy solutions, mitigating the impact of rising fuel prices. At FCMB, we are committed to supporting people and businesses while backing the government’s mission for a stable power supply,” Edun remarked.
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George Ogbonnaya, Group Head of Business Banking at FCMB, emphasised the transformative potential of the loan. “This affordable energy finance facility offers quick, simple access to clean energy, supporting job creation, economic growth, and environmental sustainability,” he said.
FCMB has been a pioneer in renewable energy funding, with numerous investments in solar projects, mini-grids, and energy-efficient systems over the past three years. The bank has also provided free training and capacity-building programmes to support sector growth.
In recognition of its efforts, the Development Bank of Nigeria awarded FCMB for its impact on micro, small, and medium enterprises accessing credit for the first time, and for its commitment to sustainability initiatives.
As part of the FCMB Group Plc, the bank remains dedicated to building a sustainable ecosystem that connects people, resources, and markets across Africa.
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