AFC Secures $753m Financing for Angola’s Lobito Atlantic Railway Corridor

By offering a faster, safer alternative to existing export routes, the Lobito Corridor will strengthen global supply chains for battery minerals and support regional industrialisation.

The Africa Finance Corporation (AFC), Africa’s leading infrastructure solutions provider, has announced the signing of major financing agreements for the Lobito Atlantic Railway Project in Angola—a transformative regional transport initiative that will modernise one of Southern Africa’s most strategic rail corridors.

AFC, acting alongside Eaglestone as Co-Financial Adviser, supported Lobito Atlantic Railway S.A. (LAR), the concessionaire responsible for rehabilitating and operating the 1,300-kilometre brownfield rail line connecting the Port of Lobito on Angola’s Atlantic coast to the Democratic Republic of Congo (DRC) border.

A $753 Million Financing Milestone

The project has secured a US$753 million financing package, comprising:

• US$553 million from the U.S. International Development Finance Corporation (DFC)

• US$200 million from the Development Bank of Southern Africa (DBSA)

This significant investment marks a pivotal milestone for the Lobito Corridor, which is set to strengthen regional integration, improve trade logistics, and create a cost-efficient export pathway for critical minerals such as cobalt and copper from the DRC and Zambia.

Backed by World-Class Sponsors

The project is supported by renowned global infrastructure and logistics leaders:

• Mota-Engil – multinational construction group with deep African presence

• Trafigura – one of the world’s leading independent commodity traders

• Vecturis – experienced international rail operator specialising in freight concessions

Together, these sponsors bring unmatched technical, operational and commercial expertise to ensure long-term corridor viability.

Transforming Regional Transport Capacity

The financing package is expected to:

• Increase Lobito’s transport capacity ten-fold to 4.6 million metric tonnes per year

• Reduce transport costs for critical minerals by ~30%

• Enable creation of thousands of jobs during construction and operation

• Boost skills development, enhance railway safety standards, and unlock new community-level economic opportunities

By offering a faster, safer alternative to existing export routes, the Lobito Corridor will strengthen global supply chains for battery minerals and support regional industrialisation.

Voices from Key Stakeholders

Samaila Zubairu, President & CEO, AFC:

“This financing demonstrates AFC’s expertise in structuring complex, cross-border infrastructure transactions. The Lobito Corridor is a transformational gateway connecting Angola, the DRC, and Southern Africa, unlocking trade, industrial growth and supply-chain resilience.”

Nuno Gil, Founding Partner, Eaglestone:

“We are delighted to support this landmark transaction that will expand regional trade and economic activity along the Lobito Corridor.”

Manuel Mota, Deputy CEO, Mota-Engil:

“This agreement expands transport capacity, reduces costs, and opens access to mineral-rich regions. It reinforces confidence in Angola’s ability to attract world-class infrastructure investment.”

Richard Holtum, CEO, Trafigura:

“The railway is a key domestic and regional asset that will drive economic development and support the global movement of critical metals.”

Strengthening AFC–Angola Partnership

Angola joined AFC as a member state in 2022 and advanced to shareholder status in 2025, deepening collaboration across infrastructure, energy, mobility and industrial sectors. The Lobito Atlantic Railway financing reinforces AFC’s expanding footprint, including its complementary greenfield railway projects connecting critical trade corridors across Angola.

A New Era for African Transport and Trade

The Lobito Corridor stands as one of Africa’s most strategically significant infrastructure undertakings—enhancing regional connectivity, improving export competitiveness, and advancing sustainable economic growth across Southern Africa.