Angola secures $753m in US, South Africa financing for Lobito rail.

Lobito Atlantic Railway (LAR) has secured $753 million in financing from the U.S. International Development Finance Corporation (DFC) and the Development Bank of Southern Africa (DBSA). This is to support the rehabilitation of Angola’s 1,300-kilometre Lobito railway corridor linking the mineral terminal at the Port of Lobito to Luau on the border with the Democratic Republic of Congo, Lobito Atlantic Railway. The corridor provides the shortest and most direct rail route between the DRC’s Copperbelt mining region and international markets. LAR stated that the upgrades will significantly enhance the railway’s capacity, efficiency, and reliability, thereby strengthening its role as a key import-export route for metals and minerals, including copper and other critical resources. Nicholas Fournier, Chief Executive Officer of LAR, commented: “This financing from the DFC and DBSA marks a major milestone in our vision to establish the Lobito Corridor as Africa’s premier trade route. The funding will enable LAR to significantly expand capacity, improve efficiency, and strengthen economic connectivity across Angola and the wider region.” The Lobito Railway serves a broad range of users, including mining companies, regional traders, and logistics operators, offering access to global markets through the deepwater Port of Lobito. In recent years, the corridor has gained strategic importance as governments and companies seek alternative and more efficient export routes for critical minerals from Central Africa. Beyond exports, LAR said the railway also functions as a key import gateway, facilitating the movement of goods into inland markets. The company added that the investment is expected to support domestic and regional economic growth, reinforcing the Lobito Corridor’s role as a catalyst for trade and development across sub-Saharan Africa. Source: Africabusinessinsider