African Finance Corporation (AFC), Africa’s leading infrastructure solutions provider, has announced the signing of a major financing agreement for the Lobito Atlantic Railway project in Angola. The project is an innovative regional transport initiative that modernizes one of southern Africa’s most strategic rail corridors.
AFC worked with Mr. Eaglestone as joint financial advisor to support Lobito Atlantic Railway SA (LAR), the concessionaire responsible for the rehabilitation and operation of the 1,300-kilometre brownfield rail line linking the port of Lobito on Angola’s Atlantic coast to the border with the Democratic Republic of the Congo (DRC).
$753 million funding milestone
The project has secured a US$753 million funding package that includes:
This major investment marks a pivotal milestone for the Lobito Corridor, which will strengthen regional integration, improve trade logistics and create a cost-effective export route for critical minerals such as cobalt and copper from the Democratic Republic of the Congo and Zambia.
Supported by world-class sponsors
The project is supported by prominent global infrastructure and logistics leaders.
Mota-Engil – a multinational construction group with a deep presence in Africa
Trafigura – one of the world’s leading independent commodity traders
Vecturis – an experienced international rail operator specializing in freight concessions
Together, these sponsors bring unparalleled technical, operational and commercial expertise to ensure the long-term viability of the corridor.
Transforming regional transportation capacity
The funding package is expected to:
Lobito’s transport capacity increased tenfold to 4.6 million tons per year
Reduce transport costs of critical minerals by up to 30%
Enabling the creation of thousands of jobs during construction and operation
Accelerate skills development, strengthen rail safety standards and unlock new economic opportunities at the community level
The Lobito Corridor will strengthen global supply chains for battery minerals and support regional industrialization by providing a faster and safer alternative to existing export routes.
Voices from key stakeholders
Samaira Zubair, AFC President and CEO:
“This funding demonstrates AFC’s expertise in structuring complex cross-border infrastructure deals. The Lobito Corridor is a transformational gateway that connects Angola, the Democratic Republic of the Congo and Southern Africa and unlocks trade, industrial growth and supply chain resilience.”
Nuno Gil, founding partner of Eaglestone:
“We are pleased to support this landmark transaction that will increase regional trade and economic activity along the Lobito Corridor.”
Manuel Mota, Deputy CEO of Mota-Engil:
“This agreement expands transport capacity, reduces costs and opens access to mineral-rich regions. It strengthens confidence in Angola’s ability to attract world-class infrastructure investment.”
Richard Holtum, CEO of Trafigura:
“Railroads are important national and regional assets, driving economic development and supporting the global movement of critical metals.”
Strengthening the partnership between AFC and Angola
Angola joined the AFC as a member state in 2022 and progressed to shareholder status in 2025, deepening collaboration across infrastructure, energy, mobility and industrial sectors. The Lobito Atlantic Railway financing strengthens AFC’s expanding footprint, including complementary greenfield rail projects connecting important trade corridors across Angola.
A new era of transport and trade in Africa
The Lobito Corridor is one of the most strategically important infrastructure projects in Africa, strengthening regional connectivity, improving export competitiveness and fostering sustainable economic growth across Southern Africa.
