- Renewable energy traders will gain greater access to credit, helping them expand solar-powered infrastructure.
- The credit support will provide renewable energy traders with tailored financing that supports sustainable energy and strengthens the WASH value chain.
Renewable energy traders are set for a significant boost as Alert Microfinance Bank expands credit for solar solution providers. This move will power water infrastructure in more communities and strengthen Nigeria’s Water, Sanitation, and Hygiene (WASH) sector.
During a recent media briefing, the bank confirmed that the new financing plan targets the entire WASH ecosystem. Alert MFB directly tackles one of the sector’s most significant challenges—reliable power supply by offering credit to renewable energy traders.
The Managing Director of Alert MFB, Mr Raji Saheed, said the decision shows the bank’s long-term commitment to empowering entrepreneurs with tailored financial products. As a result, small businesses can grow faster and deliver more substantial community impact.
“Our partnership with Aqua for All goes beyond direct WASH financing,” Saheed stated. “We are looking at the full value chain. Renewable energy is crucial because many enterprises use solar power to run their systems. This step links those players together and drives better results.”
Along with the WASH Loan and WASH Plus Loan—both fast-disbursing products—the new credit line will help traders stock more inventory, import quality solar systems, and provide reliable energy to clients.
Alert MFB also secured regulatory approval to raise its single obligor limit to ₦100 million. As a result, the bank can now support larger businesses within the WASH and renewable energy ecosystem.
Furthermore, the bank plans to increase stakeholder engagement by hosting market workshops. The most recent session occurred at Odunade Market in Lagos, one of Nigeria’s largest hubs for water system materials.