Access Holdings to Finance Transformative Projects in Zambia

By Aduragbemi Omiyale

Nigerian financial services provider, Access Holdings Plc, has reaffirmed its support for Zambia’s economy, promising to finance transformative projects that will strengthen the country’s power generation, transmission, and distribution capacity.

This assurance was given by the chairman of Access Holdings, Mr Aigboje Aig-Imoukhuede, during a courtesy visit to the President of Zambia, Mr Hakainde Hichilema, at the State House in Lusaka on Wednesday.

“Access Holdings stands ready to finance transformative projects that will strengthen Zambia’s power generation, transmission, and distribution capacity.

“Our financing arrangements of up to $100 million are designed to catalyse development in sectors that matter most to the economy,” Mr Aig-Imoukhuede stated.

He commended the Zambian government for its bold economic reforms, particularly in the energy sector, noting these measures had created conducive environment for strategic investments, unlocking new opportunities for growth.

With energy playing a pivotal role in enabling industrial growth, particularly in mining, where copper production is projected to hit 1 million metric tonnes by year-end, it was disclosed that Access Holdings’ investments would help ensure reliable power supply and drive broader economic expansion.

Beyond energy, the group reaffirmed its commitment to supporting Zambia’s agriculture sector and advancing digital transformation, in line with the country’s growth agenda.

Also speaking, the chief executive of Access Bank Zambia, Mr Lishala Situmbeko, said the bank was already partnering with IDC subsidiaries and is evaluating an investment of 450 million kwacha into critical infrastructure projects.

President Hichilema, in his remarks, noted that Zambia currently faces a shortage in power generation and transmission, and emphasised the need for increased investment following the recent open access reforms.

He also highlighted the potential for banks to support other key sectors such as agriculture and digital transformation, which are central to Zambia’s growth strategy