Ayo Falola and Eno Umoh during the partnership. Photo courtesy 

Sterling Bank Plc uses its Sterling Alternative Finance (SAF) non-interest banking division to partner with Sun King to provide sustainable solar power solutions at affordable prices throughout Nigeria. This strategic union focuses on resolving Nigeria’s significant shortfall in energy access by promoting sustainable environmental practices alongside economic progress.

The collaborative program launches perfectly when Nigeria needs it most since the inconsistent grid power system forces households and businesses to use expensive generator sets that cause pollution. Sterling Bank enables customers to access Sun King solar products through affordable financing, offering sustainable power solutions and life-changing benefits with increased productivity outcomes.

SAF will make Sharia-compliant flexible financing available to customers who can buy Sun King solar products through a payment plan system that suits their needs. This new financing method enables people from different economic levels to get solar technology without paying complete expenses in advance.

Sterling Bank continues demonstrating its support for renewable energy in Nigeria and financial inclusion through its recent pact with SAF, as stated by Habib Alimi, who holds the position of Divisional Head of SAF. Economic development requires reliable access to energy systems as an essential fundamental factor. Through its collaboration with Sun Kin, the company will let more Nigerians obtain affordable solar solutions, improve their lifestyle quality, and promote environmental conservation, according to Alimi.

Through this partnership, Sun King aims to expand its business operations in Nigeria through its top-quality solar product range, which it distributes throughout Africa and Asia. CEO Anish Thakkar of Sun King explained how this alliance would create beneficial community changes by focusing on energy solutions for education development and entrepreneurship and enhancing overall community health.

The partnership will play a significant role in Nigeria’s efforts to meet the United Nations Sustainable Development Goals (SDGs) regarding affordable and clean energy, including poverty reduction and climate action. Since their collaboration, Sterling Bank and Sun King have enhanced solar technology deployment to achieve double the benefits of energy access improvement and low-carbon economy establishment.

Sterling Bank’s HEART strategy includes Health, Education, Agriculture, Renewable Energy, and Transportation as its focus sectors, and the project satisfies these goals. Through its investments in renewable energy initiatives, Sterling Bank has established itself as a leading organisation that drives sustainable development and generates enduring value for its customers and stakeholders.