Africa Finance Corporation (AFC), Africa’s leading infrastructure solutions provider, has played a pivotal role as Co-Financial Adviser in securing a landmark US$753 million financing package for Angola’s Lobito Atlantic Railway (LAR). The agreement, signed alongside Eaglestone, will drive the rehabilitation, upgrade, and operation of the 1,300-kilometre brownfield railway corridor connecting the Port of Lobito on Angola’s Atlantic coast to the Democratic Republic of Congo (DRC) border.
The financing package, 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), is set to increase Lobito’s transportation capacity ten-fold, to approximately 4.6 million metric tonnes annually, while cutting transport costs for critical minerals by an estimated 30 percent.
Backed by leading sponsors Mota-Engil, Trafigura, and Vecturis, the project brings world-class engineering, logistics, and operational expertise to the corridor. This strategic investment is expected to strengthen regional integration, improve access to global markets, and deliver significant socio-economic benefits, including job creation, skills development, improved safety standards, and long-term economic opportunities for communities along the railway.
“The signing of the financing agreements for the Lobito Atlantic Railway highlights AFC’s expertise in structuring complex, cross-border infrastructure projects of strategic significance,” said Samaila Zubairu, AFC President and CEO. “This corridor aligns with our commitment to delivering transformational transport infrastructure that links Angola, the DRC, and Southern Africa, unlocking regional trade, industrial growth, and supply-chain resilience. For Angola, a valued AFC member and shareholder, this marks a milestone in advancing national infrastructure and economic priorities.”
Nuno Gil, Founding Partner of Eaglestone, emphasized the project’s regional significance: “Advising LAR on this landmark transaction unlocks trade and boosts economic activity along the Lobito Corridor, reaffirming Southern Africa’s potential for world-class infrastructure development.”
Mota-Engil’s Deputy CEO, Manuel Mota, added: “This strategic agreement expands transport capacity, reduces transit costs, and opens access to mineral-rich regions of the DRC and Zambia. Our partnership with Trafigura, AFC, and Eaglestone ensures the project delivers on Angola’s economic diversification and regional connectivity goals.”
Richard Holtum, CEO of Trafigura, highlighted the railway’s regional impact: “Securing financing from DFC and DBSA advances the rehabilitation of this vital corridor, supporting the movement of critical metals to global markets and promoting domestic and regional economic development.”
Since Angola joined AFC in 2022 and became a shareholder in 2025, the Corporation has strengthened its presence in the country through advisory and investment projects spanning infrastructure, energy, and industrial sectors. The Lobito Atlantic Railway project exemplifies AFC’s commitment to delivering transformative infrastructure that drives regional growth and prosperity.
