Access Holdings Reaffirms Support for Zambia’s Economy
Access Holdings PLC has pledged its continued support for Zambia’s energy and agriculture sectors, following a courtesy visit and high-level discussion with Zambia’s President, President Hakainde Hichilema at the State House in Lusaka.
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.
Aigboje Aig-Imoukhuede, Chairman, Access Holdings, 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.
“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.
As a leading African financial services group, Access Holdings remains dedicated to supporting the Zambian government and private sector stakeholders to deliver sustainable economic impact.
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About Access Holdings PLC
Access Holdings PLC ("the Company") is a non-operating financial holding company licensed and regulated by the Central Bank of Nigeria (CBN) and headquartered in Lagos, Nigeria. The Company was established in 2022 following the regulatory, judicial, and shareholders’ approvals of the Scheme of Arrangement between Access Bank Plc and holders of its fully paid-up ordinary shares. The Company serves its various markets through five subsidiaries across the banking, payment, pension administration, and insurance sectors. The Company’s operating subsidiaries are Access Bank Plc, Hydrogen Payment Services Company Limited, Access ARM Pensions Limited, Access Insurance Brokers Limited and Oxygen X Finance Company Limited.
Access Bank PLC serves its various markets through three business segments- Corporate and Investment, Commercial and Retail. The Bank has enjoyed what is Africa’s most successful banking growth trajectory in the last twenty-two years. Following its merger with Diamond Bank in March 2019, Access Bank Plc became one of Africa’s largest retail banks by customer base and Nigeria’s largest bank by total assets. It operates through a network of more than 700 branches and service outlets, spanning three continents, over 20 countries, and serving over 60 million customers.
Hydrogen Payment Services Company Limited, the payment company, leverages the strong suite of the Bank’s existing assets and customer base, creating a super fintech that will be Africa’s most powerful business services network. Hydrogen being a company of African heritage has a clear understanding of the unique payment challenges across the continent and is positioned to address these challenges with its offerings. Its range of products and services, such as InstantPay, Payment gateway, POS services, Card and Switch processing are gaining traction in the marketplace and addressing the unique needs of customers.
Access ARM Pensions Limited [formerly Access Pensions Limited], is one of Nigeria’s largest Pension Funds Administrator (‘PFA’) by customer base and Assets Under Management, with nearly ₦3 trillion in assets under management and serving over 2 million Retirement Savings Account holders.
Access ARM Pensions Limited is the product of several separate entities. The erstwhile Access Pensions Limited first became a subsidiary of Access Holdings following the acquisitions of the former First Guarantee Pension Limited and Sigma Pensions Limited and their later merger. Subsequently, Access Pensions Limited merged with ARM Pensions Managers [PFA] Limited to form Access ARM Pensions Limited. As one of Nigeria’s leading PFAs, Access ARM Pensions Limited is leveraging key relationships and the growing ecosystem of Access Group across Africa to unlock greater opportunities for customers.
Access Insurance Brokers Limited is a company licensed by the National Insurance Commission that provides intelligent solutions that mitigate the unique risks faced by individuals and businesses in an ever-changing world using leading risk management tools and governance standards.
Oxygen X Finance Company Limited is a digital first consumer lending business built to anchor digital lending for Access Group, deliver superior value to customers, drive enhanced value proposition, and maximize value accretion.
Oxygen X is positioned to be a dominant digital-first player in the Nigerian consumer lending space, leveraging connectivity with Access Bank and other subsidiaries while building a dynamic ecosystem.
Access Holdings Plc strives to invest in businesses that are committed to sustainable practices and have a positive impact on the environment.