The Zambia-Lobito railway corridor, an ambitious project led by the Africa Finance Corporation (AFC), is entering a critical phase with increased support from international partners, including the United States. During a recent visit to Angola, U.S. President Joe Biden reaffirmed his country’s commitment to this initiative, marking a pivotal step in transforming the economies of Southern and Eastern Africa.
At the Lobito Corridor Leaders Summit, co-hosted by Angolan President João Lourenço and President Biden, AFC CEO Samaila Zubairu announced that the railway project will launch in early 2026. The project, requiring a total investment of over $1 billion, will receive $500 million mobilized by the AFC through various financial instruments. This strategic investment is complemented by partnerships with major players such as KoBold Metals, guaranteeing 300,000 tons of copper and freight annually, and Kobaloni Energy, which will receive $100 million to establish a copper sulfate plant in Zambia.
“This project symbolizes what African leadership, in partnership with global allies, can achieve when united behind a common vision,” said Mr. Zubairu. In addition to financing, collaborations are planned with multilateral development banks and African pension funds to ensure the project’s long-term sustainability.
