AFC commits $500m to Phase 2 Lobito Trans-Africa railway Corridor.
By Masauso Mkwayaya
The Africa Finance Corporation -AFC- has secured an additional 500 million U.S. Dollars for the construction of the second phase of the Lobito Trans-Africa railway Corridor.
AFC Chief Executive Officer SAMAILA ZUBAIRU announced the development during the Lobito Summit in Lobito, Angola.
The second phase of the project involves the construction of an 800 kilometers greenfield railway to link Angola and Zambia for the first time.
Mr. ZUBAIRU also said AFC has signed a Memorandum of Understanding with critical minerals enterprise KoBold Metals as an anchor client, securing the movement of a minimum of 300,000 tons of copper and related freight annually.
He said AFC has further committed 100 million U.S. Dollars to Kobaloni Energy to support Zambia’s first battery-grade copper sulphate facility, ensuring sustained cargo movement on the new railway.
Speaking with ZNBC’s MASAUSO MKWAYAYA in Lobito, Angola, Transport and Logistics Minister FRANK TAYALI said the project will break ground in the first quarter of 2026.
Mr. TAYALI said the new funding paves way for Africa’s first transcontinental railway project, aligning with the aspirations of the Africa Continental Free Trade Area -AfCFTA.
He said the rail infrastructure will lower the cost of doing business for land linked countries like Zambia.
