In a move aimed at ensuring business sustainability for Small and Medium Scale Enterprises (SMEs) amid Nigeria’s intractable power crisis, BaobabPlus Nigeria is partnering Trade Lenda to offer SMEs alternative solar energy sources.
BaobabPlus is a leading provider of cutting-edge solar technologies, Trade Lenda, while Trade Lenda is a digital microfinance institution dedicated to financial inclusion for micro, small, and medium-scale businesses.
Under the partnership, Trade Lenda will offer credits to SMEs to acquire solar energy solutions offered by BaobabPlus to run their businesses. What this means is that such businesses can now have an alternative to Nigeria’s epileptic and unreliable supply from the national grid.
This dynamic collaboration seeks to revolutionise the energy landscape by offering hybrid solar generators, solar freezers, and solar fridges on loan to customers. Leveraging the strengths of both organisations, this partnership aims to bring affordable solar solutions within reach of a broader audience while simultaneously promoting financial inclusion in underserved regions.
As the world’s demand for clean energy solutions grows, BaobabPlus Nigeria is committed to addressing the pressing need for accessible solar products. Through this partnership, the company will make its range of high-quality solar solutions, including solar-powered generators, fridges and freezers, available to a wider customer base, said Kolawole Osinowo, CEO BaoabPlus. According to Osinowo, prices of solar energy solutions range between N499,000 and N5m.
Trade Lenda, with its expertise in tailored financial services and deep community connections, will facilitate the distribution of these solar products through microloans, ensuring that customers can harness the power of the sun without the initial financial burden. By offering favourable loan terms and flexible repayment options, this collaboration will create opportunities for individuals, business owners and communities to invest in sustainable energy solutions.
“This partnership reflects our shared vision of promoting renewable energy access and economic empowerment for SMEs in Nigeria,” Osinowo noted. “We are excited to work with Trade Lenda, an institution with a proven commitment to financial inclusion. Together, we will provide SMEs with the means to access clean energy solutions that advance their business growth,” he added.
Speaking also, Oyindamola Olaniyan, COO, Trade Lenda COO, said: “At Trade Lenda, our mission is to provide opportunities and unlock potential for SMEs to help them scale.
Collaborating with Baobabplus Nigeria to offer solar products on loan aligns perfectly with our core values of financial empowerment and community development.”