Barclays Bank Ghana has introduced a loan package dubbed ‘Power/Generator Loan’.
The loan facility is to aid its customers and non-customers sail through the current power crisis.
It involves an arrangement between Barclays Bank Ghana and suppliers of electric power solutions which allows the bank to pay directly to a registered supplier who then provides the desired electric power solution to the customer. The package, which covers the purchase of a generator, an inverter or solar power system, provides a collateral-free loan of up to GH¢130,000.
According to Head of Products at Barclays Bank Ghana Evelyn Acquah said the loan was in response to the current market trends.
“In Barclays I believe you are aware of our prosper campaign and as part of that our focus has been on how we help our customers to achieve their ambitions in the right way. So in response to the current market trends which we are all aware that we are in we set to develop a solution that would meet the needs of our customers and what is that solution? That solution was looking at giving them a product that would give a solution that would help them overcome the inconvenience that the power crisis had put on them. And that is what informed the designing of the power loan for our customers.”
She added that there was a 10% discount for all customers because the bank had pre-selected the suppliers. However, if you walked into any of the suppliers shop to buy without using the power loan opportunity you would not get the discount. She also explains how one can access the loan saying salaried earners needed to have an account with the bank to qualify but also all those who were on the scheme loan system like the Fire Service, GES and so on are also qualified to access the facility.
Business World (with notes from citifmonline)