Mutual Trust MFBank launches N10m solar financing for renewable energy

Mutual Trust MFBank Limited, one of Nigeria’s leading financial institutions is spearheading the advancement of loans up to N10 million per head, to workers in public and private sectors towards the acquisition of solar panels, batteries, inverters, and clean and renewable energy equipment.

The loan dubbed “solar loan” is designed to help individuals and organizations in the public and private sectors achieve ample savings on money spent on traditional fuelling and electricity and also help reduce carbon footprints through a cost-effective alternative green energy solution.

Commenting on the Solar Loan product, Josh Oyebisi, managing director/CEO of Mutual Trust MFBank described it as “the clean energy revolution by the bank to ensure Nigerians have easy access to cost-effective solar technologies without the burden of initial high costs.”

“Nigeria, like many developing nations, faces traditional energy-related challenges; from increased fuel costs due to subsidy removal to issues of power supply and the non-ecofriendly situations associated with the use of generators,” he said in a statement made available to BusinessDay.

Recognizing the urgency of solving these issues, Mutual Trust has stepped forward to bridge innovative financial services and affordable clean energy by offering flexible and accessible solar loan solutions to individuals and organizations in the public and private sectors.

“We are paving the way for the future of our country to be powered entirely by clean and renewable energy.”

The bank launched the solar loan product to help reduce the impact of the economic challenges and the subsidy removal on Nigerians across the country.

In his comment, Gbenga Adetola, chief corporate services officer, said “We understand that the initial cost required for acquiring a solar system can be a huge financial barrier for many businesses and individuals and to overcome this challenge, the bank is offering to its customers, tailored solar loan options with flexible repayment terms.”

Mutual Trust MFBank Limited stands out for its unwavering commitment to both financial inclusion and environmental sustainability.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.