Stanbic Bank Introduces First Solar-Powered ATM’s In Ghana

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IMG-20150424-WA0018Ghana’s Stanbic Bank has rolled out the first solar-powered offsite ATMs in the country to provide a reliable, cost-effective alternative for running ATMs during the ongoing power outages.

By the end of September 2015, the bank intends to install about 20 more in high traffic areas and also in areas that experience frequent power outages.

According to Farihan Alhassan, Head of Customer Channels, Stanbic Bank, this will come as a relief to those who rely on ATMs rather than traditional banks to make financial transactions.

“As a customer-conscious bank, we definitely need to make sure that clients can readily access their money whenever they want,” says Farihan.

The ATM’s will also be of in regards to the frequent power cuts taking place, eight ATM’s have been installed so far.

“We want to prevent the inconvenience caused to clients when ATM’s are completely down because there’s no power,” he added.

The solar-powered ATM’s will also help sustain the environment while reducing pressure on the national grid.

“The generator sets that are powering our various branches emit a lot of toxins, and that is certainly not good for the environment,” said Hendrix Glover, ATM Manager at Stanbic Bank.

Hendrix Glover has said it’s in the interest of society that the bank tries to use renewable sources of energy that have a negligible effect on the environment.

Power to each ATM is provided by up to sixteen panels, feeding a system that includes a battery-bank, air-conditioners and CCTV cameras. Valued at US$17,000, the solar-powered ATM’s come with over 20 years warranty and have the capacity to produce between three and five kilowatts. During its lifespan, the solar-powered ATM’s are estimated to save the bank some GH?36,000 in energy cost annually.

“We spend about GH?3,000 each every month on electricity and fuelling generator sets for each site,” Mr. Hendrix said.

“So this off-grid solution, expensive as it may seem in the short-term, saves us a lot of money in the long-term.”

The installation of solar-powered ATM’s is in consonance with Stanbic Bank’s commitment to promoting positive environmental practices. Over the years, the bank has undertaken green initiatives such the donation of solar-powered lanterns worth GH?420,000 to students in deprived communities of the Brong Ahafo, Northern, Upper-West, Upper-East and Western Regions.

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