Johannesburg, South Africa — The Africa Finance Corporation (AFC) has successfully secured a $753 million financing package for the rehabilitation and modernization of the Lobito Corridor Railway in Angola. This landmark transaction, closed on July 3, 2026, is a significant stride towards enhancing regional connectivity and economic transformation across Africa.
The Lobito Corridor Railway, a vital transport infrastructure, connects Angola’s Lobito Port to the Democratic Republic of Congo (DRC) border.
The project’s rehabilitation and modernization aim to improve trade efficiency and promote economic transformation in the region, with an estimated 1,300 kilometers of railway line to be upgraded.
The financing package is a joint effort, with $553 million contributed by the United States International Development Finance Corporation (DFC) and $200 million from the Development Bank of Southern Africa (DBSA). This substantial financial backing underscores the project’s importance in strengthening trade links and fostering economic growth within the region.
The Africa Finance Corporation’s representative emphasized that the Lobito Corridor Railway Project is more than just a railway rehabilitation; it is about creating a sustainable and efficient transport corridor that will drive economic development and integration in the region.
The project is expected to have a significant impact on Angola’s economy, particularly in the mining sector, by facilitating the transportation of minerals to the Lobito Port, thereby increasing efficiency and supporting export growth.
The improved transport links are anticipated to reduce costs and open up new markets for member states.
As Africa continues to prioritize infrastructure development, the Lobito Corridor Railway Project stands as a testament to regional collaboration and commitment to progress, setting a precedent for future public — private partnerships in the continent’s economic landscape.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: africa
Source: NG Editor
