In a bold step toward advancing sustainability in Kenya, Diamond Trust Bank (DTB) has launched a new Solar Finance Product tailored for salaried homeowners in peri-urban Nairobi. This initiative is part of DTB’s ongoing commitment to environmental stewardship through financing of climate-smart solutions.
Developed in partnership with leading solar technology provider Sun King, the product enables qualified DTB customers to access unsecured loans to finance the installation of solar power systems in their homes.
The initiative targets homeowners with an interest in home improvement and cost-saving solutions, living in peri-urban areas such as Kitengela, Rongai, Ngong, Juja, and Ruiru regions where power reliability is often inconsistent.
Speaking during the MoU signing with Sun King, Murali Natarajan, CEO, DTB Kenya noted that: “At DTB, we recognize that access to affordable and reliable energy is not just an environmental issue—it’s an economic and social imperative. Through this Solar Finance Product, we are not only helping homeowners cut electricity costs but also supporting Kenya’s transition to cleaner, more resilient energy sources.”
Kenyan households continue to grapple with two major energy-related challenges:
- High electricity costs: With energy demand being largely inelastic, rising prices significantly reduce disposable income and contribute to a higher cost of living for families and businesses.
- Frequent power outages: In the year ending June 2023, Kenyan consumers experienced 44.9 unplanned power outages, averaging 115.73 hours of lost electricity. This disrupts productivity for professionals working from home and daily routines for households.
DTB’s Solar Finance Product offers a cost-effective, sustainable, and dependable alternative. Solar energy systems enable homeowners to reduce reliance on the national grid while protecting themselves from fluctuating electricity tariffs and frequent outages.
By lowering the barrier to solar adoption, DTB is helping homeowners take control of their energy use and invest in sustainable solutions that help both their households and the planet.
