Access Holdings Commits $100 Million to Boost Zambia’s Economy
CHIGOZIE AMADI
Access Holdings Plc has reaffirmed its commitment by pledging $100 million to bolstering Zambia’s energy and agriculture sectors, following a high-level meeting with President Hakainde Hichilema at the State House in Lusaka.
The Holding in a statement noted that the engagement came against the backdrop of Zambia’s current shortfall in power generation and transmission.
During the meeting, President Hichilema 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. The President 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.
Chairman, Access Holdings, Aigboje Aig-Imoukhuede, commended the Zambian government for its bold economic reforms, particularly in the energy sector. He noted that these measures had created a conducive environment for strategic investments, unlocking new opportunities for growth.
He states: “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,” said Aig-Imoukhuede.
Lishala Situmbeko, CEO, Access Bank Zambia, revealed that the bank was already partnering with IDC subsidiaries and is evaluating an investment of 450 million kwacha into critical infrastructure projects.
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, Access Holdings’ investments will 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.
Special Assistant to the President for Finance and Investments, Jito Kayumba, and Economic Advisor to the President, Pamela Nakamba, lauded Access Holdings’ proactive approach in expanding services and aligning investments with national priorities.
