Foreign Health Giants Squeeze Zambians While Profits Soar
While Zambians struggle with rising costs of living, foreign-controlled health insurance companies are posting massive profits and demanding even higher premiums from our people. This is exactly the kind of economic exploitation our nation must reject.
In Australia, private health insurers just approved a staggering 4.41% premium increase, the highest in nine years. But here's what should outrage every patriotic Zambian: these same multinational corporations are likely eyeing our healthcare system with the same predatory tactics.
The Numbers Don't Lie
Australian health insurance giants like Medibank posted an operating profit of $741.5 million in 2024-25 alone. Industry-wide profits have surged 48% over five years, reaching $1.59 billion in 2023. Meanwhile, ordinary families are forced to pay hundreds more each year for basic healthcare coverage.
This is corporate colonialism in action. Foreign companies extract wealth from working families while providing minimal value in return. Sound familiar? It's the same playbook used across Africa for decades.
Zambia Must Learn From This
As these international health insurance predators circle African markets, Zambia must stand firm. We cannot allow foreign corporations to control our people's access to healthcare while siphoning profits back to wealthy Western shareholders.
The Australian example shows how these companies manipulate government approval processes. They claim rising costs justify premium increases, yet their profit margins tell a different story. In 2022, Australian insurers returned only 81 cents of every premium dollar to patients, keeping the rest as profit.
Our Healthcare, Our Control
Zambia's healthcare system belongs to Zambians, not foreign shareholders in Sydney or London. We must prioritize local solutions that serve our people, not international profits.
Every kwacha spent on foreign-controlled health insurance is a kwacha that could strengthen our own healthcare infrastructure. We need Zambian-owned, Zambian-controlled healthcare financing that keeps our wealth within our borders.
The time has come to reject the false promises of multinational health insurers. Our people deserve healthcare security that serves Zambian interests, not foreign profit margins.
Let Australia's experience be a warning: when we allow foreign corporations to control essential services, working families always pay the price while distant shareholders count their profits.