Solar loans to boost business
Posted Monday, February 17 2014 at 02:00
Credit will be given through Post Bank first.
Uganda Energy Credit Capitalisation Company (UECUganda Energy Credit Capitalisation Company (UECCC) under the Energy ministry has developed a loan product to enable easy accessibility to solar systems.CC) under the Energy ministry has developed a loan product to enable easy accessibility to solar systems.
Ms Specioza Ndagire, the managing director UECCC, explained that the solar loan product will increase access to credit facilities for both domestic and commercial enterprises. Ms Ndagire noted that there is need to support people in this loan product to increase the consumption of solar in the country.
“We will commit credit to participating financial institutions (PFIs’) for on-lending to both domestic and commercial consumption,” said Ms Ndagire.
This solar loan product is intended to address the higher costs of acquiring solar systems in the country.
Ms Ndagire was addressing stakeholders during the solar finance week recently in Mbale.
Mr Robert Wandwasi, the vice chairperson Mbale, urged Ugandans to consume more renewable energy source which is now available as an alternative source of energy. Mr Wandwasi also called on all SMEs’ to take benefit from this programme to grow their businesses.