Ecowas, UNEP partner with banks to accelerate adoption of ecofrideges in West Africa

WEST AFRICA – The Economic Community of West African States (ECOWAS), a regional political and economic union of fifteen countries located in West Africa and the United Nations Environment Programme (UNEP) have partnered with local banks to accelerate the adoption of ecofridges.

The partnership with the local banks led by Letshego Ghana will provide the necessary financial mechanism to ensure the fridges are affordable to a majority of the citizens in the ECOWAS region.

To this end, local financial institutions aim to unlock US$5 million in financing to support the purchase of well over 10,000 cooling appliances to replace old existing equipment by 2022.

The mechanism includes the proper collection and disposal of used appliances, product testing, policy considerations, capacity building, and promotion and awareness campaigns.

Eco-friendly refrigerators and other home appliances are increasingly becoming popular in the world today owing to cost reduction and environment friendly benefits.

Unlike their conventional counterparts, Eco-friendly appliances are energy-efficient and are estimated to use around 37 percent less energy than traditional appliances, thus save on energy.

They have also been fitted with modern tools and technology which ensures that they have a significantly smaller carbon print when compares to the old and outdated appliance.

Despite of their immense benefits, eco-friendly refrigerators have not been patronized in Africa as they have in Europe or America, largely because of their cost which is out of reach for an average African home.

The partnership with Letshego will however address this financing gap, proving more west African homes with means to acquire the energy-efficient and climate-friendly domestic refrigerators.

“Letshego brings excellent experience and ambition to drive the transition to more sustainable products,” ECOFRIDGES said in a statement.

As a result of the new partnership, Letshego will offer a credit to finance the up-front cost of a qualifying appliance purchased by eligible customers from participating vendors.

Approved vendors will deliver new domestic refrigerators and room air conditioners and facilitate the collection and disposal of old products that are being replaced.

Customers can receive a voucher to turn-in used but operational cooling equipment that is valid for future use at vendor stores.

“ECOFRIDGES GO offers a triple win – benefiting consumers, reducing strain on Ghana’s electrical grid, and mitigating key environmental impacts,” Brian Holuj, ECOFRIDGES Project Manager, U4E said.

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