Azuri technologies limited, has partnered with First Bank of Nigeria to supply the next generation power to off – grid consumers in Nigeria.
The Partnership is expected to give rural customers modern financial and digital services while also enabling access to financial services irrespective of the power challenges experienced at any point in time.
The partnership, according to the two companies at a press briefing in Lagos last week, is consistent with the shared vision of providing a level playing field where all customers can benefit from modern financial and digital services regardless of where they live, noting that the partnership enables rural customers to access final services irrespective of the challenges experienced.
The founder and Chief Executive Officer, Azuri technologies, Simon Bransfield- Garth, said low rates
of electrification, with sub-saharan Africa ranking among the poorest in the world, have been a
major impediment to the continent’s economic growth and development prospects.
He said, the scale of Nigeria’s grid electricity deficit is daunting maintaining that the lack of reliable
power limits local development and modernisation forcing people to rely on expensive, harmful
fuels as alternatives. He said by partnering with First Bank of Nigeria, it would be extending the
reach of the solar power while also making it easier to rural customers to access and pay for new
Speaking on how Pay -as – you- go solar and mobile payments through the First Bank’s first monie
agents resonates with the Central Bank’s financial inclusion strategy for rural and semi-rural
locations, the Deputy Managing Director of First Bank of Nigeria Ltd, Mr. Gbenga Shobo, described
the partnership as one capable of deepening energy, digital and financial inclusions. Shobo, who was
represented at the event by Mr. Tunde Owolabi, Group Executive, Retail Banking Group, Lagos and
West, First Bank of Nigeria, said there would be no doubt help those who live in the hinterland to
live the lives those in the cities live and would stem the tide of rural- urban migration.
This partnership is aimed at providing solutions to one of the major challenges in Nigeria today, which is delivering power to millions of Nigerians, while at the same time enabling ourselves to
financial services in the rural and low income areas. We all know what power is: people say “touch power touch lives”. If you have power in an environment, you can imagine how lively it will be.
Financial inclusion is a priority to us in First Bank of Nigeria, we are very excited about this partnership.
Shobo said the partnership with Azuri technologies limited was another evidence of the bank’s track record of a partnership aimed at meeting the needs of its millions of customers across the country.