Walmart-owned retail group Massmart said on Wednesday that it has launched a solar funding solution to help customers reduce their reliance on Eskom as load shedding in South Africa continues unabated.
The company is offering the funding – which consists of a loan of up to R250 000, available within 24 hours – in partnership with Retail Credit Solutions (RCS), a financial services provider.
“The retail group offers flexible payment plans, where fixed monthly repayments can be tailored to the customer’s monthly expense budget,” Massmart said in a statement.
Repayment terms are between 12 and 60 months, depending on a customer’s requirements and financial position.
The funding solutions are available through Massmart-owned retailers Makro, Builders and Game.
The move by Massmart comes less than a month after finance minister Enoch Godongwana announced that individuals who install rooftop solar will be eligible for a tax rebate of 25% of the cost of the panels, up to a maximum of R15 000.
“Through this financing solution, we can offer much-needed assistance to cash-strapped South Africans by providing them with funding for their preferred, more sustainable energy requirements,” said RCS chief commercial officer Gavin Lomberg in the statement.