First National Bank (FNB) announced that it is providing 10 000 units of generators at a significantly discounted price to small businesses and residential clients.
FNB said in a statement that this is to alleviate the immediate impact of load shedding, due to power constraints the country is facing.
The generators are available in various sizes (minimum of 2.5 KVA and maximum of 7.0 KVA) and clients can purchase these at the eBucks Shop.
A 2.5 KVA generator, on PriceCheck, costs R6 139, and a 7.0 KVA can cost R30 000 or more.
In order to qualify for the discount, a customer has to bank with FNB.
“Customers have the convenient option of using cash, eBucks or any existing FNB facility to purchase their preferred generator and could qualify for up to 20% price discount depending on their rewards level. Importantly, the offer is available to both Personal and Business customer segments,” said FNB.
Planning for the future
“We believe that this is a timely solution as load shedding is increasingly affecting businesses and consumers, and the generators we have secured will go a long way to helping our customers to plan better,” said Sanjeev Orie, CEO of FNB Business Value-Adds.
FNB went on to say that they are hoping to offer the discount to larger businesses in the future.
The second part of this pilot initiative will focus on the energy needs of larger enterprises and the bank’s intention is to embark on a full rollout over the next few weeks once they are comfortable with their initial piloting objectives.
“Similarly, we are in the process of scoring all our customers for new and / or increased credit facilities to facilitate the purchase of an alternative energy solution,” said Orie.
Orie went on to say that from a FNB perspective, their long-term objective is to enable clients to easily access alternative energy solutions, including solar and gas, to reduce pressure on the national grid while boosting productivity among businesses and consumers.