UMB launches Solar Loan product

John Awuah
In a bid to enrich the lives of Ghanaians and to play a role in diversifying Ghana’s utilization of energy sources, Universal Merchant Bank (UMB), in partnership with the Energy Commission, has launched the UMB Solar Loan.
The Ministry of Power, through the Energy Commission, is implementing a Rooftop Solar
Programme with the primary objective of distributing 200,000 free solar panels to residential facilities to reduce the pressure on the national grid. However, to qualify for the free solar panels, individuals must have installed the required inverters, batteries and charge controllers.
Commenting on the Rooftop Solar Programme, the Chief Executive Officer of UMB, Mr. John Awuah stated that, “Organizations and individuals are critically reviewing ways of reducing their expenditure on electricity consumption. UMB is therefore helping individuals who wish to receive the free solar panels by providing fast and affordable loans to assist them in purchasing the inverters and batteries required for the installation of the solar panels.”
Jeffrey Odame Yeboah, UMB’s Head of Personal Banking also outlined the requirements for prospective beneficiaries to qualify for the free solar panels.
“Prospective beneficiaries must pick up an application form from the office of the Energy Commission or visit to fill an application online.
“Once approval is received from the Energy Commission, UMB will provide the funds required to purchase the required inverters, batteries, charge controllers, inverter, changeover switch and wires. The solar panels will then be installed by the Energy commission free of charge”.
Mr. Odame Yeboah further encouraged the general public to take advantage of the Solar Rooftop prgoramme and also to visit any UMB branch or call 0302 633 98 to find out more about the UMB Solar Loan.

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