Mutual Trust MFBank Unveils Solar Loan To Support Renewable Energy

As part of its unwavering commitment to responsible banking principles that prioritise sustainability and support the global shift toward net-zero greenhouse gas emissions by 2050, Mutual Trust MFBank Limited has said it was at the forefront of driving renewable energy adoption in Nigeria.

With the introduction of its Solar Loan product, the bank is empowering individuals and businesses to reduce their reliance on costly and environmentally harmful energy sources.

By making it easier to acquire solar panels, batteries, and other renewable energy equipment, Mutual Trust is helping Nigerians combat both the high cost of fuel and electricity while promoting a greener and more sustainable future.

Through its solar financing solutions, the bank is actively supporting the global transition to clean energy, aligning with international efforts to combat climate change and reduce carbon footprints.

Dubbed the “Solar Loan,” the product is designed to reduce reliance on traditional, fossil fuel-powered energy sources and promote clean and renewable energy.

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By making solar technologies more accessible, Mutual Trust is helping Nigerians not only save on electricity and fuel costs but also reduce their carbon footprints, contributing to a greener environment.

Commenting on the Solar Loan, Josh Oyebisi, Managing Director/CEO of Mutual Trust MFBank, described the initiative as part of the bank’s commitment to driving a clean energy revolution. “We are committed to ensuring that Nigerians can transition to solar energy without being burdened by high upfront costs,” he said. “Our solar loans make this possible by providing a cost-effective and environmentally friendly alternative to traditional energy sources.”

Mutual Trust’s solar loan product is not just a financial service—it’s part of the bank’s broader strategy to align with global sustainability goals. “We are bridging the gap between innovative financial services and affordable clean energy,” said Oyebisi. “We aim to make it easier for individuals and organizations to invest in renewable energy and be part of the solution to climate change.”

With flexible repayment options, the Solar Loan is accessible to a wide range of customers, allowing them to transition to solar power without the burden of high initial costs. The bank’s efforts are in line with SDG 7, which calls for universal access to affordable, reliable, and sustainable energy by 2030.

The introduction of the Solar Loan is timely, given the economic challenges many Nigerians face, including the fuel subsidy removal and high electricity tariff. Gbenga Adetola, Chief Corporate Services Officer at Mutual Trust, emphasized the importance of reducing financial barriers to solar adoption. “We understand that the cost of acquiring a solar system can be prohibitive for many businesses and individuals. Our tailored solar loan options with flexible repayment terms make it easier for more Nigerians to transition to clean energy,” he said.

Mutual Trust MFBank Limited has long been recognized for its commitment to financial inclusion. Now, the bank is extending this commitment to include environmental sustainability, ensuring that more Nigerians have access to affordable clean energy solutions. The bank’s efforts in promoting renewable energy through innovative financial products are helping to create a sustainable energy future for Nigeria, aligning with global efforts to combat climate change.

As the world moves towards a greener and more sustainable future, Mutual Trust MFBank is playing a pivotal role in ensuring that Nigeria is not left behind. Through its Solar Loan and other initiatives, the bank is not only supporting the growth of renewable energy but also helping to protect the environment for future generations.