BancABC, a subsidiary of Pan-African banking Group Atlas Mara has partnered with Distributed Power Africa (DPA), a subsidiary of Econet Wireless to provide Solar Finance for residential and commercial solar solutions and reduce reliance on the national grid. The partnership was officially launched on Friday 8 November 2019 by the BancABC CEO Dr Lance Mambondiani at a surprise pop-up launch event at the bank’s Private Banking branch.
Speaking at the event, Dr Lance Mambondiani said the energy deficit in the country requires businesses to consider renewable energy as a key energy source for the foreseeable future. “The electricity shortages look like the will be with us for a while until we increase our production capacity.
Solving this problem requires a multi-pronged solution and solar energy is one of them”.
Dr. Mambondiani added, “DPA understands the solar business and we understand money, this partnership will make it easier for our customers to access funding for an alternative energy solution that reduces reliance on the national grid”.
Distributed Power Africa (DPA) has in the past worked on several residential and commercial installations for companies such as Econet, Liquid Data Centre, Kefalos Foods, Schweppes and Surrey Meats.
Hope Marere the Head of Retail and Business Banking at BancABC commented that ‘this flexible loan arrangement with DPA represents a wonderful opportunity for every Zimbabwean to finance the installation of solar to power their homes, schools and businesses