Keystone Bank, others partner with Mojec to roll out prepaid meters

By MWorld Team Apr 18, 20190

Mojec Meter Assets Management Company, a subsidiary of Mojec International Limited, has announced partnership with Keystone Bank Limited and other leading banks in the country to provide retail financing for rollout of prepaid meters to its customers within the coverage area of its partner Distribution Companies (DISCOs) across the country.

This is a major step ahead of the commencement of the much-anticipated Meter Asset Providers (MAP) scheme.

The partnership announcement was made at a press conference which was held recently, and also Memorandum of Understanding signing ceremony which took place in Lagos between Mojec and the partner banks. The partner banks include Keystone Bank, Unity Bank, Zenith Bank, Polaris Bank, First Bank, Wema Bank, Sterling Bank and First Option Microfinance Bank.

MAP is a scheme approved by the Nigerian Electricity Regulatory Commission (NERC) through a regulation meant for the provision, supply, installation and maintenance of end-user meters by Meter Asset Providers with a view to fast-tracking a closure of the metering gap and end estimated billing in Nigeria.

Speaking at the event, the Managing Director/Chief Executive Officer, Mojec International Limited, Ms. Chantelle Abdul, disclosed that the company was determined to bridge the metering gap in the power sector by ensuring provision of top-quality electricity meters to consumers in Nigeria.

“Now that MAP is here, Mojec is once again blazing the trail in the provision of high-end quality pre-paid meters to consumers, helping to reduce the financial burden estimated electricity billing is putting on electricity consumers,” Abdul reiterated, that Mojec as a company has invested a lot of resources, positioning it as best suited to meet the metering needs of all consumers within the coverage of its partner Discos.

She further disclosed that Mojec would be partnering with eight Discos including, Ikeja Electric, Eko Disco, Abuja Disco, Kano Disco, Enugu Disco, Jos Disco, Ibadan Disco and Kaduna Disco covering about 20 states of the federation.