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British International Investment (BII)-backed Growth Investment Partners (GIP) Zambia has announced its fourth investment in the country, committing K50 million to Altus Financial Services Limited.
The deal marks GIP Zambia’s expansion into financial services after its first investment in Boxpack Zambia Limited in November 2025 and two logistics investments totalling US$6.2 million.
Speaking at a media briefing in Lusaka on Tuesday, Musonda Chipalo, GIP Zambia Chief Executive Officer said the transaction reinforced its commitment to deploy catalytic capital into high-impact sectors of the Zambian economy.
Chipalo noted that access to formal credit remained a persistent constraint for many Zambians, particularly public sector employees and micro-entrepreneurs underserved by traditional lenders.
He said Altus addressed this gap through structured, payroll-deducted lending, combining disciplined risk management with predictable repayment terms and disbursement within 24 hours of a completed application.
“Altus is a Bank of Zambia-licensed institution operating 12 branches in all provincial centres. The firm manages more than 2,700 active loans with tenors ranging from 6 to 60 months and ticket sizes from K500 to K150,000,” Chipalo stated.
He said the clients included public sector employees, small-scale farmers, mining suppliers, contractors, and micro-entrepreneurs, segments described as the productive core of Zambia’s economy but frequently passed over by conventional lenders.
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Chipalo added that GIP Zambia’s K50 million investment would enable Altus to scale its operations, deepen its reach within its core borrower segments, optimise its branch network, and strengthen operational capacity.
“Revenue growth has been strong, with revenues increasing at a Compound Annual Growth Rate (CAGR) exceeding 50percent between 2021 and 2025. Over the same period, Altus’ loan book expanded from K14 million to K85 million,” he said.
Chipalo stated that the payroll-deduction model, which routes repayments directly through employer payrolls, formed a compelling basis for GIP Zambia’s investment.
“We are pleased to commence a long-term partnership with Altus to support its continued growth, which will increase access to finance and support inclusive economic growth,” he said.
GIP Zambia is backed by BII, the National Pension Scheme Authority (NAPSA), and Swedfund, with anchor capital of up to US$70 million.
The platform was launched by President Hakainde Hichilema on July 15, 2025 and targets more than 150 investments totalling over US$300 million across Zambian SMEs and financial institutions over the next 15 years.
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