Access Holdings pledges $100m to boost Zambia’s energy, agriculture

Access Holdings Plc has committed to financing transformative projects in Zambia’s energy and agriculture sectors, following a high-level meeting with President Hakainde Hichilema at the State House in Lusaka. The discussions underscored Zambia’s urgent need for enhanced power generation and transmission, spurred by recent open-access reforms, as well as growth in agriculture and digital transformation.

President Hichilema highlighted the critical role of financial institutions in supporting these sectors, which are central to Zambia’s economic strategy. Aigboje Aig-Imoukhuede, Chairman of Access Holdings, praised the government’s bold reforms, noting they have created a favorable environment for investment. “Access Holdings stands ready to finance projects that strengthen Zambia’s power generation, transmission, and distribution capacity,” Aig-Imoukhuede said, announcing financing arrangements of up to $100 million to drive development in key economic sectors.

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Lishala Situmbeko, CEO of Access Bank Zambia, revealed ongoing partnerships with Industrial Development Corporation subsidiaries and plans to invest 450 million kwacha in critical infrastructure. These investments aim to bolster Zambia’s energy sector, vital for industrial growth, particularly in mining, where copper production is expected to reach 1 million metric tonnes by year-end.

Beyond energy, Access Holdings reaffirmed its support for agriculture and digital transformation, aligning with Zambia’s growth agenda. Special Assistant to the President for Finance and Investments, Jito Kayumba, and Economic Advisor Pamela Nakamba commended Access Holdings for aligning its investments with national prior