Dr Nwogu Calls for Stronger PPPs to Sustain Zambia’s Economic Growth
Access Bank Managing Director Dr Iheanyi Nwogu has called for sustained collaboration between Government and the private sector to translate Zambia’s improving macroeconomic stability into inclusive and tangible economic growth.
Speaking at the Ministry of Finance and National Planning Q1 2026 Economic Performance and Budget Outlook Townhall, Dr Nwogu commended the Ministry for maintaining proactive engagement with the private sector, describing the current economic environment as one of “renewed stability”.
He noted that recent fiscal discipline had contributed to a more stable inflation outlook and a Kwacha that is beginning to stabilise, adding that these developments are gradually restoring investor confidence.
However, he stressed that economic transformation requires more than policy direction, emphasising the need for effective execution and timely deployment of capital to drive real economic activity.
Dr Nwogu highlighted Access Bank’s continued support to key sectors, revealing that the institution provided over ZMW 3 billion in financing to energy and agriculture in the previous year, supporting Government’s debt restructuring agenda and food security efforts.
He also pointed to support for small and medium enterprises (SMEs) through the bank’s SME Business Club, which disbursed K12.2 million in collateral-free loans to 147 businesses in the first quarter of 2026 alone.
In addition, he confirmed that Access Bank has been appointed the sole sponsor bank for Phase Two of the Government’s Cash for Work Programme, which is expected to facilitate monthly payments to around 1.3 million beneficiaries nationwide.
He further noted that digital payment systems for the programme had been successfully tested and are now operational.
The Managing Director also highlighted the bank’s role in supporting the Food Reserve Agency during the 2025/2026 crop marketing season, during which it facilitated ZMW 3 billion in payments to over 311,000 farmers, alongside expanded banking hours to improve service delivery in rural areas.
He emphasised the importance of financial inclusion, noting that Access Bank remains the only bank in Zambia with a 24/7 call centre and operates 72 service points across all ten provinces.
On infrastructure financing, Dr Nwogu said the bank is serving as Mandated Lead Arranger for up to US$365 million for the Ndola crude oil refinery project, which he described as a key investment in strengthening Zambia’s energy security and industrial base.
He further revealed progress towards Green Climate Fund accreditation, positioning the bank to support climate-linked financing and sustainable development initiatives.
Dr Nwogu also congratulated the Government on receiving the Public Sector Trade Reforms Award at the Africa Trade Conference in Cape Town, noting that ongoing reforms are improving the business environment and boosting trade activity.
He concluded by urging continued policy consistency, discipline, and stronger partnerships between the public and private sectors, stating that Zambia is well positioned to transition from economic stabilisation to sustained and inclusive growth.
