Key takeaways

• Access Bank Zambia plans to increase financing for agriculture and SMEs under the Government’s Grow Zambia Agenda.

• The bank intends to finance the agricultural value chain, including inputs, mechanisation, irrigation, storage and exports.

• Access Bank reportedly facilitated more than K2.5 billion through the Food Reserve Agency’s digital farmer payment programme.

• The programme recorded a reported system success rate of 99 per cent.

• The bank is prepared to support the proposed transformation of FISP into a loan scheme.

• Access Bank intends to participate among the first lenders to deploy the Bank of Zambia’s K5 billion credit guarantee scheme.

• The bank has committed approximately K1.611 billion to energy value-chain businesses and supported strategic energy initiatives exceeding US$117 million.

• Its Managing Director says stronger financing and public-private partnerships will be important to Zambia’s K1.2 trillion economy ambition by 2029.

Access Bank Zambia has announced plans to increase financing for agriculture and small and medium enterprises (SMEs) as part of efforts to support production, exports and job creation under the Government’s Grow Zambia Agenda.

The bank’s Managing Director, Iheanyi Nwogu, said it would prioritise productive sectors as Zambia moves from economic stabilisation towards expansion and structural transformation.

Speaking at the 2027 Post-Budget Symposium organised by the Ministry of Finance and National Planning at the Mulungushi International Conference Centre in Lusaka, Nwogu said access to capital would be essential for businesses seeking to expand their operations, increase production and create employment.

He explained that the bank intended to support the entire agricultural value chain, including farming inputs, mechanisation, irrigation, storage and exports.

“Businesses cannot invest, expand production or create jobs without access to capital. And that capital must reach the sectors and enterprises capable of driving export-led growth,” he said.

Access Bank Plans Financing Across Zambia’s Agricultural Value Chain

Agriculture is one of the major areas targeted under Access Bank Zambia’s financing strategy.

According to Nwogu, the bank intends to provide financing across different stages of agricultural production, rather than limiting its support to individual farming activities.

The proposed financing areas include agricultural inputs, mechanisation, irrigation infrastructure, storage facilities and export-related activities.

The approach is intended to support farmers and businesses involved in different parts of the agricultural value chain, while helping to improve production capacity and strengthen the sector’s contribution to the economy.

Nwogu also highlighted the bank’s existing involvement in agricultural payment services, revealing that Access Bank had facilitated more than K2.5 billion in payments under the Food Reserve Agency’s digital farmer payment programme.

The programme recorded a reported system success rate of 99 per cent, according to the bank.

Bank Ready to Support Proposed FISP Loan Scheme

Access Bank Zambia has also expressed readiness to support the proposed transformation of the Farmer Input Support Programme (FISP) into a loan scheme.

Nwogu said the bank intended to use its branches and agent network in farming districts to support the proposed arrangement.

The development could provide another channel through which farmers access financing and agricultural inputs, although the proposed transformation of the programme should not be confused with an already implemented scheme.

The bank is also interested in providing financing against warehouse receipts once the Agricultural Credit and Warehouse Receipts Act comes into effect.

Under this arrangement, farmers could use stored agricultural produce as collateral when seeking loans.

The proposed approach is intended to make it easier for farmers to access financing without necessarily having to sell their produce immediately.

Access Bank Targets SMEs Through K5 Billion Credit Guarantee Scheme

Beyond agriculture, Access Bank Zambia is looking to expand its support for small and medium enterprises.

Nwogu welcomed the Bank of Zambia’s K5 billion credit guarantee scheme, saying Access Bank intended to participate among the first lenders to deploy the facility.

The scheme is expected to support access to credit for businesses, while the bank’s proposed participation could help eligible enterprises obtain financing for their activities.

Nwogu emphasised that the effectiveness of a credit guarantee scheme depends on financial institutions actually using the facility to support businesses and employment.

He stated:

“A guarantee creates jobs only when a bank uses it. We will use it,” he said.

The bank’s planned participation forms part of its broader strategy to direct financing towards businesses capable of expanding production, supporting local economic activity and creating jobs.

Access Bank Reveals Energy Financing Commitments

Access Bank Zambia also highlighted its financing activities across the energy sector.

According to Nwogu, the bank had committed approximately K1.611 billion to businesses operating across the energy value chain.

He further disclosed that the bank had supported strategic energy initiatives exceeding US$117 million.

The figures demonstrate another area of the bank’s involvement in productive-sector financing, alongside its agricultural and SME commitments.

Energy financing is also relevant to businesses seeking to expand their operations and production capacity, although the bank’s announcement did not provide further details about the individual projects covered by these commitments.

Financing Needed to Support Zambia’s K1.2 Trillion Economy Ambition

Nwogu said achieving Zambia’s ambition of building a K1.2 trillion economy by 2029 would require timely financing and stronger partnerships between the Government and the private sector.

He argued that financial support should be directed towards businesses and productive activities capable of delivering measurable economic benefits.

According to him, the contribution of financial institutions should be assessed not only by the amount of money they provide but also by the results that financing makes possible for farmers, suppliers and entrepreneurs.

He explained:

“The true measure of our contribution is not simply how much we finance, but what that financing makes possible: a farmer increasing production, a local supplier expanding operations, an entrepreneur creating employment,” he said.

The bank’s stated financing strategy therefore places agriculture, SMEs and energy among the productive sectors it intends to support as Zambia pursues its wider economic expansion objectives.

By targeting agricultural production, business development, exports and employment, Access Bank Zambia says it intends to play a greater role in supporting the country’s economic transformation.

Frequently asked questions (FAQ)

1. What sectors is Access Bank Zambia targeting with increased financing?

Access Bank Zambia plans to increase financing for agriculture and small and medium enterprises, while also supporting businesses across the energy value chain.

2. How much has Access Bank facilitated through the Food Reserve Agency’s digital farmer payment programme?

The bank’s Managing Director said it had facilitated more than K2.5 billion in payments through the programme, which recorded a reported system success rate of 99 per cent.

3. Which areas of agriculture does Access Bank intend to finance?

The bank intends to support agricultural inputs, mechanisation, irrigation, storage and exports across the agricultural value chain.

4. Will Access Bank support the proposed FISP loan scheme?

Yes. The bank has expressed readiness to support the proposed transformation of the Farmer Input Support Programme into a loan scheme through its branches and agents in farming districts.

5. What is Access Bank’s position on the K5 billion credit guarantee scheme?

The bank says it intends to participate among the first lenders to deploy the Bank of Zambia’s K5 billion credit guarantee facility.

6. How much has Access Bank committed to energy-related businesses?

According to its Managing Director, the bank has committed approximately K1.611 billion to businesses across the energy value chain and supported strategic energy initiatives exceeding US$117 million.

7. What is Zambia’s economic ambition for 2029?

The article identifies a K1.2 trillion economy by 2029 as the ambition referenced by Access Bank Zambia’s Managing Director.