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South Africa’s  Lulalend Partners with solar suppliers to empower small businesses

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Lulalend, South Africa’s first online provider of short-term business funding has partnered with with several renewable energy suppliers from around the country to empower SMEs with sustainable, reliable power solutions.

The company products which are driven by proprietary AI technology, are specifically designed to make it easier for small businesses to access vital working capital. Their mission is to empower SMEs across South Africa to succeed.

“Working within the SME sector, we needed to create an offering that would assist this sector. We have launched a campaign in which there is an easily accessible funding option that will help power up SME businesses with solar energy, ensuring that the doors stay open, and the lights stay on,” says Tom Stuart, chief marketing officer at SME funding provider Lulalend. In addition securing these funds through Lulalend means you get access to several locally based solar installing businesses at a discounted rate .

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Minister Enoch Godongwana’s recent budget speech included exciting news for businesses and individuals looking to invest in renewable energy. Starting this month, businesses will be able to reduce their taxable income by 125% of the cost of investing in renewables. That means there’s never been a better time to start exploring your options for sustainable energy solutions.

As the South African energy grid continues to struggle with instability and regular load shedding, many small businesses are finding it difficult to maintain operations and stay competitive. The loss of power not only disrupts business activities but also leads to significant financial losses.

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According to recent reports, power outages have cost businesses around R100 billion per year in lost productivity since 2019. That’s a staggering amount, and it underscores the urgency of finding reliable, affordable solutions to the energy crisis.

While there are several options out there for SMEs looking to stay connected and ensure business continuity when load shedding strikes, for several reasons solar power is the best choice.

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With advances in energy storage (including Li-ion batteries), solar power has become fully reliable and dispatchable, ensuring a consistent supply of electricity 24/7. With the right setup, you can also sell excess energy back to the national grid, effectively letting your system slowly pay for itself.

Stuart explains “While the initial investment in solar panels may seem daunting, the long-term savings can be significant. Not only will you be able to reduce your reliance on the grid (and therefore your monthly electricity bill), but you’ll also be able to take advantage of the tax incentives mentioned in the recent budget speech.”

Unlike other fossil-fuel-based solutions such as diesel generators, solar power is sustainable. By investing in renewable energy, you’re not just protecting your business from the impact of load shedding – you’re also doing your part to reduce your carbon footprint and contribute to a more sustainable future.

“We at Lulalend are committed to helping small businesses thrive in South Africa, and we believe that sustainable energy solutions are a critical part of that equation. With our flexible funding solutions and partnerships with solar energy suppliers, we’re here to help you power up and keep the lights on. Let’s work together to build a brighter, more sustainable future for all,” says Stuart. 

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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