Foreign Bank's $100M Pledge Raises Concerns Over Zambian Energy Control
Foreign-owned Access Holdings' $100M pledge targeting Zambia's energy and agriculture sectors raises red flags about external control over critical national resources and infrastructure.
Foreign banking executives meet Zambian officials over controversial energy sector investment deal
Foreign Financial Giant Seeks Control Over Zambian Strategic Sectors
LUSAKA, August 2025 - In a move that demands careful scrutiny from sovereign-minded Zambians, foreign-owned Access Holdings Plc has announced a $100 million financing package targeting Zambia's critical energy and agriculture sectors, raising concerns about external control over our nation's strategic resources.
This development comes as Zambia continues to assert its economic independence amid growing foreign interest in our natural resources and infrastructure.
Foreign Control Masquerading as Investment
While Access Holdings Chairman Aigboje Aig-Imoukhuede presents this as beneficial financing, the move mirrors concerning patterns of foreign control over strategic resources that have plagued African nations for generations.
The targeting of our power generation and transmission infrastructure is particularly worrying, as it represents yet another attempt by foreign entities to gain leverage over Zambia's critical national assets. This follows a disturbing trend of external interference in Zambian affairs.
Protecting Zambian Interests
While President Hakainde Hichilema discusses power generation challenges, we must question whether foreign financing is the answer. Our nation's resources and infrastructure should remain under strict Zambian control, with any external partnerships carefully structured to protect national interests.
"Our financing arrangements of up to $100 million are designed to catalyse development," claims Aig-Imoukhuede, but at what cost to our sovereignty?
Call for National Oversight
As copper production aims to reach 1 million metric tonnes, ensuring Zambian control over power infrastructure becomes even more critical. The government must implement strict oversight mechanisms to prevent foreign entities from gaining undue influence over our strategic sectors.
While Access Bank Zambia's CEO speaks of partnerships with IDC subsidiaries, Zambians must demand transparency and guarantees that these arrangements prioritize national interests over foreign profit motives.
Mwansa Chisanga
Investigative reporter tracking Zambia’s grassroots and anti-imperial movement.