Credit Corporation of Nigeria (CREDICORP) has entered into a partnership with Koolboks to expand access to affordable, energy-efficient freezers for Nigerians through structured consumer financing. The initiative is designed to help households, traders and small businesses acquire solar-powered freezers without the burden of high upfront costs.
Under the arrangement, beneficiaries can pay for the freezers in manageable monthly instalments, making ownership more accessible to low- and middle-income earners. On its website, Koolboks Nigeria advertises its solar freezer with an entry payment plan of about ₦65,000 per month, positioning it as a flexible option for users seeking reliable cooling solutions.
The partnership is expected to address challenges associated with food preservation, particularly in areas with unstable electricity supply. By providing solar-powered alternatives, both organisations aim to reduce food spoilage, improve storage for perishable goods and support small-scale businesses that depend on refrigeration.
Stakeholders say the initiative will also contribute to economic stability by helping traders minimise losses and maintain product quality. For many small business owners, access to consistent cooling remains a critical factor in sustaining daily operations.
CREDICORP and Koolboks noted that the collaboration brings together financing and technology to tackle a long-standing gap in Nigeria’s cold storage value chain. They added that the programme would be rolled out nationwide, targeting underserved communities where access to reliable power is limited.
The companies further stressed that cooling solutions should no longer be seen as a luxury but a necessity, especially in a country where heat and power shortages continue to affect livelihoods.
With flexible payment plans and solar-powered innovation, the initiative is poised to improve living conditions while supporting economic activities across various sectors.
