AFC Signs $753 Million Financing Deal to Advance Lobito Atlantic Railway Corridor in Angola
Africa Finance Corporation (AFC) has announced the signing of key financing agreements for the Lobito Atlantic Railway Project in Angola, marking a major milestone for one of Southern Africa’s most strategic transport corridors.
AFC, working alongside Eaglestone, acted as Co-Financial Adviser to Lobito Atlantic Railway S.A. (LAR), the concessionaire responsible for rehabilitating, upgrading, and operating the 1,300-kilometre railway line connecting the Port of Lobito on Angola’s Atlantic coast to the border with the Democratic Republic of Congo (DRC).
The project is supported by a strong consortium of international sponsors, including Mota-Engil, Trafigura, and Vecturis, combining expertise in engineering, commodities logistics, and rail operations to underpin the long-term viability of the railway.
The financing package totals US$753 million, comprising US$553 million from the U.S. International Development Finance Corporation (DFC) and US$200 million from the Development Bank of Southern Africa (DBSA). The funding will be used to modernise the existing rail infrastructure, strengthen regional trade links, and improve access to global markets.
Once operational, the Lobito Atlantic Railway is expected to increase annual transport capacity ten-fold to approximately 4.6 million metric tonnes and reduce the cost of transporting critical minerals by around 30 percent.
The project is also set to generate employment, enhance safety standards, support skills development, and deliver long-term economic benefits to communities along the corridor.
AFC President and Chief Executive Officer Samaila Zubairu said the agreement demonstrates AFC’s ability to structure and deliver complex, cross-border infrastructure projects with far-reaching regional impact.
“This initiative supports the development of a transformational transport corridor linking Angola, the DRC, and the wider Southern African region,” he said. “It underscores the critical role of integrated rail and port infrastructure in boosting trade, industrial growth, and supply-chain resilience.”
He added that the Lobito Corridor holds particular significance for Angola, an AFC member country and shareholder, reaffirming the institution’s commitment to supporting the country’s infrastructure and economic priorities.
Eaglestone Founding Partner Nuno Gil described the transaction as a landmark deal that will unlock trade and economic activity along the Lobito Corridor.
Representing the project sponsors, Mota-Engil Deputy Chief Executive Manuel Mota said the agreement would expand transport capacity, lower transit costs, and improve access to the mineral-rich regions of the DRC and Zambia, while reinforcing investor confidence in Angola’s infrastructure sector.
Trafigura Chief Executive Richard Holtum said the railway would serve as a vital national and regional asset, supporting economic development and enabling the efficient movement of critical minerals to international markets.
AFC’s involvement in the Lobito Atlantic Railway builds on its deepening partnership with Angola, which joined AFC as a member state in 2022 and became a shareholder in 2025.
The institution continues to expand its advisory and investment footprint in Angola across infrastructure, energy, and industrial development.
