Firm Empowers 100 SMEs to Boost Solar Infrastructure
Stories by Emma Okonji Synafare Energy, a supply chain trade company, that focuses on financing of renewable energy products, celebrated its 2nd year anniversary in Lagos, where it offered between
Synafare Energy, a supply chain trade company specializing in renewable energy financing, marked its 2nd anniversary in Lagos by providing loans ranging from N10 million to N100 million to 100 SME businesses involved in the renewable energy sector. CEO and Co-founder Tobi Esho explained that the financial aid would enable merchants to acquire renewable energy assets and repay the loan with a discounted interest rate as low as 3.5 percent monthly, lower than the standard 5 percent offered by lenders.
Esho revealed that the offer is available not only for installers or end customers but also for distributors interested in stocking up. The company encourages purchasing in larger quantities for better pricing. Kommercial Solar founder and CEO, Mr. Isaac Babafemi, emphasized the importance of capacity building among renewable energy product merchants during a panel discussion.
Babafemi outlined three key principles his solar installation business follows: ensuring every installation functions properly, remains safe, and exhibits aesthetic appeal. These principles have contributed to the company's growth from small residential to large residential installations. Instollar founder and CEO, Chinwe Udo-Davis, stressed the necessity of training and retraining installers during the panel session. Udo-Davis argued that failing to invest in training can hinder a business's growth prospects.
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