[SPONSORED] AbsaSouthAfrica is offering loan funding to its SME clients to install alternative energy solutions and grants totalling 10% of the overall installation value to qualifying businesses. Moneyweb Eskom loadshedding
South Africa experienced its first day without load shedding in more than 20 weeks on Tuesday, 21 March 2023, according to reports.
“We see that our clients’ liquidity is being eroded due to the load shedding situation. We were hoping by now that we would see some level of stabilisation, that somewhere, somehow this could be a thing of the past, but unfortunately not,” he says.Data collected through the bank’s point-of-sale devices show the turnover drop clients’ experience during load shedding.
As a responsible financier, says Mbatsane, Absa has realised that it needs to proactively find solutions to assist its loyal customers before they reach a point where business rescue would be required. Above providing finance, Absa will also give grants totalling 10% of the overall installation value – up to a maximum of R50 000 – to qualifying businesses. This will come from the bank’s R50 million renewable energy fund, earmarked for this purpose. For clients who are still hesitant due to the cost of renewable solutions, Mbatsane says the bank provides support when structuring the loan period.
Customers who are looking for an installer can start the process by looking at those who have South African Photovoltaic Industry Association PV Green Card accreditation.
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