Access Holdings Chief Praises the Government’s Fiscal Reforms as Foundation for Growth

The chairman of Nigeria's Access Holdings has commended the government for its commitment to economic reforms, describing them as creating a "strong foundation for sustainable growth".

Aigboje Aig-Imoukhuede made the remarks during a visit to Lusaka, where he met President Hakainde Hichilema at State House to discuss investment opportunities in the nation’s energy and agriculture sectors.

During the meeting, the Access Holdings chairman praised the government's fiscal reforms, debt restructuring efforts, and economic diversification strategy, saying these measures had created an attractive environment for strategic investments.

"Access Holdings stands ready to finance transformative projects that will strengthen Zambia's power generation, transmission, and distribution capacity," Mr Aig-Imoukhuede said, announcing financing arrangements of up to $100 million for critical infrastructure projects.

In response, President Hichilema highlighted Zambia's urgent need for increased investment in power generation and transmission, particularly following recent open access reforms. The president also emphasised opportunities in agriculture and digital transformation as key pillars of the country's growth strategy.

Meanwhile, Access Bank Zambia's CEO Lishala Situmbeko revealed the bank is already partnering with Industrial Development Corporation subsidiaries and evaluating a 450 million kwacha investment in infrastructure projects.

The investment comes at a crucial time for the nation’s mining sector, with copper production projected to reach one million metric tonnes by year-end. Reliable power supply is essential for sustaining this industrial growth.

Looking ahead, Mr Aig-Imoukhuede reaffirmed that Zambia remains "a key pillar" in Access Bank's African expansion strategy, with the bold ambition to become one of the country's top three banks by 2027.