Baobab Microfinance Bank Unveils Green Finance Project For Households, SMEs

Baobab Microfinance Bank Nigeria has initiated the Green Finance Project to develop skilled professionals to support households and small and medium-sized enterprises (SMEs) in making responsible, affordable and sustainable solar energy decisions.

The project is informed by rising energy costs and the need for power supply, which continue to impact households and businesses across Lagos.

Baobab Microfinance Bank stated on Monday that solar energy has emerged as an increasingly relevant alternative, but noted that limited access to qualified and responsible advisory support has remained a key challenge, often leading to poorly matched solutions, unrealistic financial expectations, or unsustainable outcomes.

It said the Green Finance Project is developed to address this gap by building capacity at the point of energy and finance.

According to the chief executive officer of Baobab Microfinance Bank Nigeria, Eric Ntumba, the programme focuses on equipping participants with the practical knowledge, financial insight and professional judgement required to assess energy needs, evaluate affordability, and provide advice that prioritises clients’ long-term interests.

He said, “Access to reliable solar energy starts with the right advice. Through the Green Finance Project, we are investing in people and building the skills required to guide households and SMEs toward solar solutions that are affordable, realistic and aligned with their long-term needs.”

He said the programme will train participants to become green energy and finance consultants, combining technical understanding of energy consumption and solar solutions with financial realism and responsible advisory practices.

Ntumba said by strengthening advisory capacity, Baobab Microfinance Bank Nigeria aims to improve the quality of solar energy guidance available in the market and reinforce trust between advisors and end users. Recruitment for green energy and finance consultants will commence as part of the programme rollout, with selected participants undergoing structured training and practical project development focused on real-life solar solutions for households and SMEs in Lagos.

Commenting on the initiative, the project manager, Rolf Kreitel, said, “This project comes from a simple conviction: real change only happens when energy decisions make financial sense, are technically understood, and are supported by advisors who are trained rigorously enough to understand the everyday realities people and small businesses face in Lagos.”

The programme is supported by the European Investment Bank (EIB) through the Financial Inclusion Fund, highlighting its contribution to inclusive and sustainable energy access.