Ecobank Ghana is making a significant investment—over $31 million—through the new Accelerating Solar Action Programme (ASAP) to boost solar energy adoption across Ghana. ASAP is designed to make solar solutions financially accessible for both households and businesses, aligning closely with Ghana’s push for cleaner, more efficient energy.
Here’s how it works: Homeowners can apply for loans up to GHC 200,000, while businesses can access as much as GHC 10 million. The loans are set at a 15% interest rate with a repayment window of up to seven years, offering flexibility to encourage a wide range of participants to make the switch to solar.
Managing Director Abena Osei-Poku emphasized that this initiative—backed by partnerships with the Green Climate Fund, government, and other stakeholders—directly addresses major barriers to clean energy: high upfront costs, limited financing options, and low awareness.
The program’s launch drew recognition from Energy Minister John Jinapor (represented by Dr. Robert Sogbadji), who highlighted the importance of collaboration between the public and private sectors to drive Ghana’s renewable energy agenda. He called for increased investment and effective mobilization of financial resources to support the nation’s energy transition.
With Green Climate Fund accreditation, Ecobank Ghana is well-positioned as a key partner in mobilizing climate finance and delivering sustainable energy solutions nationwide. The bank’s commitment is expected to accelerate Ghana’s transition to a cleaner energy mix, support the development of the renewable energy sector, and potentially lower electricity costs for consumers.