AFC Helps Secure Major Financing for Angola’s Lobito Atlantic Railway
Africa Finance Corporation (AFC) has announced the signing of key financing agreements for the Lobito Atlantic Railway Project in Angola, marking a major step forward for one of the region’s most important 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 linking the Port of Lobito on Angola’s Atlantic coast to the border with the Democratic Republic of Congo (DRC).
The project is backed by a strong group of international sponsors, including Mota-Engil, Trafigura and Vecturis, bringing together engineering, commodities logistics and rail operations expertise to support the long-term success 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 support the modernisation of the existing rail line, strengthening regional trade links and improving access to global markets.
Once completed, the Lobito Atlantic Railway is expected to increase transport capacity ten-fold to around 4.6 million metric tonnes per year and reduce the cost of transporting critical minerals by about 30 percent. The project will also create jobs, improve safety standards, support skills development and generate long-term economic benefits for communities along the corridor.
AFC President and Chief Executive Officer, Mr Samaila Zubairu, said the agreement reflects AFC’s ability to structure and deliver complex cross-border infrastructure projects with 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 highlights the vital role of integrated rail and port infrastructure in boosting trade, industrial growth and supply-chain resilience.”
He added that the Lobito Corridor is particularly important 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, Mr Nuno Gil, described the transaction as a landmark deal that will unlock regional trade and economic activity along the Lobito Corridor.
Representing the project sponsors, Mota-Engil Deputy CEO Mr Manuel Mota said the agreement would expand transport capacity, reduce transit costs and improve access to mineral-rich regions of the DRC and Zambia, while reinforcing confidence in Angola’s ability to attract major infrastructure investment.
Trafigura CEO Mr Richard Holtum said the railway would serve as a key national and regional asset, supporting economic development and the movement of critical metals to international markets.
AFC’s role in the Lobito Atlantic Railway builds on its growing partnership with Angola, which joined AFC as a member state in 2022 and became a shareholder in 2025. The corporation continues to expand its advisory and investment activities in Angola across infrastructure, energy and industrial sectors.
