Transformative Corridor to Connect Africa’s Key Mining Regions to Global Markets
LUANDA, Angola (BG) – The Zambia-Lobito Rail Project, spearheaded by the Africa Finance Corporation (AFC), has gained significant traction following U.S. President Joe Biden’s visit to Angola.
During the Lobito Corridor Leaders Summit, co-hosted on Thursday by Biden and Angolan President João Lourenço, African leaders from the Democratic Republic of the Congo (DRC), Zambia, and Tanzania joined private sector CEOs and global development institutions to celebrate progress on the project and its potential for regional transformation.
The Lobito Corridor is a railway project stretching from the Angolan port of Lobito on Africa’s Atlantic coast to the city of Kolwezi in the Democratic Republic of the Congo, which contains one of the largest mining deposits in the world.
The $1 billion Zambia-Lobito Rail Project is set to break ground by early 2026, with AFC committing $500 million in financing and mobilizing additional resources through innovative financial instruments.
The corridor will connect the Port of Lobito on Angola’s Atlantic coast to Zambia, with plans to extend to Tanzania’s Port of Dar es Salaam, creating a critical link between Africa’s Atlantic and Indian Oceans.
The rail line is expected to reduce travel time for exports from Zambia’s Copperbelt to international markets from 45 days to just seven, significantly lowering costs and enhancing efficiency. Additionally, the transition from road to rail will cut carbon emissions by at least 300,000 tons annually, supporting Africa’s energy transition and decarbonization efforts.
President Biden emphasized the Lobito Corridor’s significance, announcing over $560 million in new U.S. funding for infrastructure projects along the Corridor, including commitments to generate at least $200 million in private sector capital. The total U.S. investment along the Corridor now exceeds $4 billion.
The Corridor has mobilized over $6 billion in high-standard public and private investments. AFC President and CEO Samaila Zubairu described the project as more than just a railway, calling it an “economic gateway” to boost Africa’s global competitiveness.
Key milestones include AFC’s signing of concession agreements with Angola and Zambia and its partnership with KoBold Metals to secure 300,000 tons of annual freight. The summit reinforced the Corridor’s transformative potential to enhance access to critical minerals for clean energy, strengthen food security, and foster regional trade.
President Biden’s visit to Angola marks the first visit by a sitting U.S. president to the Republic of Angola, and the first visit of a U.S. president to sub-Saharan Africa since 2015.